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1Hermes Chain White Paper 1.0

Hermes Chain

a one-stop sports platform based on blockchain

White Paper 1.0

2018/01


Table of contents

Abstract... 3

1. Analysis of athletic sports industry... 6

2. Market pain points and blockchain solutions... 8

2.1 Pain points solution of global sports audiences... 8

2.2 Pain points solution of global sports lottery... 10

2.3 Pain points solutions of sports stars' cross-regional broadcast... 10

2.4 Pain points solutions for investment in athletes and teams... 10

2.5 Pain points of the global sports merchandise payment... 11

2.6 Pain points sports charity...... 12

2.7 Pain points of commercial sponsorship... 12

3. Irreversible block chain technology... 13

4. The technical implementation of Hermes Chain... 14

4.1 Hermes Chain system structure design... 14

4.2 Private chain design... 14

4.3 Hermes Chain consensus mechanism...... 15

4.4 EXP standard. 17

4.5 Hermes Chain anti-counterfeiting determine design... 17

4.6 Hermes Chain data layer design... 18

4.7 Hermes Chain network layer design... 18

4.8 Hermes Chain application layer design... 19

5. Investment value of Hermes Chain... 20


6. Business development... 20

7. The economic system of Hermes Chain... 22

7.1 Exchange plan... 22

7.2 Targeted fundraising... 22

7.3 Herm distribution scheme... 23

7.4 Fundraising allocation... 25

7.5 Hermes usage... 26

8. Introduction to the core team... 26

9. Project schedule ...... 26


Abstract

Competitive sports industry is a global industry full of opportunity and vitality. But

the traditional centralization of development patterns and the differences in political

and economic systems in the region has led to the value of the various branches of the

sports industry and not to keep up with the globalization of sports information.

Hermes Chain (Chinese name: 赫尔墨斯链), a one-stop competitive sports

platform based on blockchain technology, designed to overturn the traditional rules of

sports industry and construct an open and transparent focus on the new ecology of the

competitive sports industry.

Hermes Chain is named after the Greek ancient god of competition, Hermes. The

original intention was to redefine competitive sports ecology and lead the

transformation of global competitive sports industry through blockchain.

To solve the problems of sports industry, the Hermes Chain team put forward a

series of solutions based on the blockchain technology, and through the continuous

innovation of technology and the implementation of the iterative guarantee scheme.

Hermes Chain designed the underlying protocol and foundation framework of the

tunnel and implemented a multi-party phase change communication protocol.

Intelligent innovative products can easily realize value recognition, exchange, transfer

and transaction through this design. Execute Turing smart contracts in channels to

realize complex business logic of the real world.

The Hermes Chain employs multi-dimensional component architecture, including

data components, network components, consensus components, contract components,


application components. The data components use the chain format data structure and

distributed ledger technology to realize the business logic of value recognition,

transfer and exchange.

Hermes Chain will launch multi-language versions and multi-platform support for

global markets.


1. Analysis of Competitive Sports Industry

In today's world, competitive sports, as an important cultural carrier and window,

focus on the pursuit of civilization and healthy life of human society. Since the modern

Olympic movement was born in 1894 till today, with the progress of human

civilization and the development of social economy and culture, science and

technology, and as a result of changes in human life concepts, competitive sports have

become increasingly become an indispensable important content in human life. And

because of the great appreciation and entertainment, more and more new groups are

paying attention to it, and there is a rising personalized demand in the global market.

For instance, the football industry is the world's 17th largest economy, and its

annual output is worth $500 billion. Quadrennial World Cup is the jewel of the

greatest crown in the football economy. The football World Cup is the third in the

most valuable brand published by Forbes, with a brand value of 160 million. With the

rise of China, the world’s second largest economy, the Chinese football industry chain

is expanding. According to the Chinese sports industry, it is estimated that the football

industry has more than $800 billion potential market growing space.

In the 2010, in the World Cup final in South Africa, FIFA announced that 700

million people around the world watched the match. There are 3.2 billion people who

have been tuned to the World Cup for at least a minute, and in 2014 FIFA announced

that the World Cup in Germany was about 3 billion. The number of football fans

around the world can be estimated from the two figures released by FIFA. But as the


world's largest sport, there is no doubt that the number of football professionals and

fans involved are over one billion. Due to the large number of players involved in

football are from more than 200 countries all over the world, and the fans are unable to

truly realize the global integration development due to many factors such as time,

region, politics and currency exchange rate. The profitable modes of competitive

sports are multipoint and fully flowering, ranging from athlete training education,

ticket sales, broadcasting right sales, commercial sponsorship, derivative development,

sports lottery tickets, gambling and monetizing of customer data.


2. Market pain points and blockchain solutions

2.1 Pain points solution of global sports audiences

The traditional centralized purchasing mechanism has the problem of the difficulty

of buying tickets, the difficulty of getting into the venue and the overflowing fake

tickets. The centralized opaque ticketing system has the inevitable problem of trust in

the rules of ticket pricing, statistics and the feedback of progress. Moreover, due to

time, region, politics, currency exchange rate and other factors, the users of various

countries cannot complete the tickets booking conveniently. After buying tickets, it is

necessary to keep paper tickets that are easily lost and damaged. Some venues need to

perform rigorous authentication to enter, which is extremely inconvenient.

Hermes Chain can solve this pain point through blockchain technology. The whole

process of a sports event from the scheduling to confirmation of the venue to the start

of the ticketing system can be carried out on the Hermes Chain. The blockchain

electronic tickets can be matched with the seats and the purchasers by their self-

evident.

After each phase is confirmed, it cannot be tampered with. Each ticket transaction

generated in the system is valid and open to the public for inspection so as to facilitate

the global sports fans to know the information on the ticket at any time. In addition,

the Hermes Chain live-time synchronizes ticket information with all nodes. All around

the world, the exclusive currency in the system is used for ticket transactions, which


breaks down the inconveniences of the sports fans in the world in terms of time, space

and currency exchange rates. The unique identity function of the blockchain

technology will revolutionize traditional paper tickets and validate the entry with a

paper ticket, saying goodbye to the age of the counterfeit tickets.

Traditional ticketing process

Blockchain ticketing process

Strive for a seat

Submit the order

Order Payment

Collect paper ticket

Admission with ID and paper ticket

Smart seat reserve

Automatic Payment

Block chain ticket

Admision with E-ticket


2.2 pain points solution of global sports lottery

There is always the trust problem of the centralization operation in the lottery

betting, and the existing betting mechanism still hasn't got rid of the doubt of

"operation of the dark box" in the market.

Hermes Chain will use the blockchain technology to build the first decentralized

sports lottery sales platform in the world. With the technology of blockchain

untampering, lottery investors are safe, fair, and transparent.

Hermes Chain applies security key authentication, blockchain browser and other

advantage technologies, so that each bet can query the bonus pool amount at any time,

and automatically pay out bonus by triggering the machine algorithm.

2.3 Pain points solutions of sports stars' cross-regional

broadcast

Influenced by different regional policies, currency exchange rate and other factors,

sports star broadcast still cannot keep up with the demand of globalization.

The business model of Hermes Chain can properly solve this problem. The data

synchronization and live broadcast of the blockchain across regional nodes can also fit

well and break through the restriction of the broadcast platform as the intermediary,

and sports fans can make a reward to the sports stars on the block chain.

2.4 Pain points solutions for investment in athletes and teams


At present, the investment of athletes is controlled by the central club and the

organization, is restricted by various aspects, the personal investment channel is

severely lacking trust, as well as the right of personal investment cannot be

guaranteed.

Hermes Chain is going to build a centralized investment platform for individual

investment in athletes. To convert part of the time and earnings of an athlete or team

into digital assets, sports fans can be their investors by purchasing the corresponding

digital assets, and the blockchain can guarantee the rights and interests of every

investment.

2.5 Pain point solutions of the global sports merchandise

payment

Due to the large number of intermediate costs to be consumed for cross border

payment, a significant price difference is caused when a sports product is sold across

regions.

Hermes Chain will launch a point-to-point global sales platform for sports

products. The platform will provide users with automatic price comparison. On the

one hand, the product passes through the blockchain certification to guarantee the

authentic products. On the other hand, the payment of the points through the

blockchain point can save a large amount of intermediate costs, and the cost savings


will be converted into discounts and concessions, which can be later provided to the

buyers.

2.6 Pain point of sports charity

Sports charity is operated by centralized institutions, which not only consumes a

large amount of labor costs, but also because of the opacity of information, the

development of sports charity is greatly hindered.

Hermes Chain provides a distributed sports center, trust charity system,

participants provided every charity, pools of each money flows are authentic record in

blockchain, every participant can be view at any time.

2.7 Pain points of commercial sponsorship

The advertisers have been concerned about the market in the hands of the agents,

and the amount of advertising is often not ideal for the false data. Hermes Chain can

provide an open and transparent advertising platform, data sharing can make it

possible for advertisers to trust environment for commercial advertising sponsorship.


3. Irreversible blockchain technology

At present, we are in the midst of a silent change, blockchain has brought the

information from the Internet to the value of the Internet revolution.

If the existing Internet has solved the problem of information dissemination and

sharing, is money to solve, then blockchain contracts on the Internet and digital assets

value exchange, transaction and transfer problem. Individuals and institutions in any

one of the nodes of the network, the transfer and exchange of value in a set of

decentralized, trusting mechanisms built by the blockchain technology.

Blockchain technology is the use of blockchain to verify the data structure and

data storage and use of distributed node consensus algorithm to generate and update

the data, the use of cryptography way to ensure the security of data transmission and

access, the use of automated script code intelligent contracts to programming and

operating data of a new kind of distributed infrastructure and computing paradigm.

The blockchain is a super-complex distributed accounting technology that can

keep records in thousands, or even millions, of stand-alone computers that work

together without a single entity controlling them. With the development of the block

chain technology, we will use a set of trust and verify the basic automation system to

store or to exchange information and assets, block all the stuff on the chain is to trust,

capitalization, and people all over the world to recognise the worth of it. The world is

entering an irreversible block chain era.


4. The Technical Implementation of Hermes Chain

4.1 Hermes Chain system structure design

Hermes Chain to adopt dual chain design scheme of dual chain are deployed on

the Ethereum network. The Hermes Chain is responsible for handling the earnings of

the associated token (Herm) associated with Hermes Chain. The Herm can be used to

move up and down on the major exchanges. All tokens and smart contracts are run on

the mother Chain, and the tokens are in accordance with the ERC20 token of

Ethereum, which is compatible with the global exchanges. The Hermes Chain sub-

chain is responsible for dealing with the accounts management, payment, project

progress and benefits of users' investment in sports industry.

Herm is a virtual currency in the form of a constant value transaction.

Hermes Chain adopts the self-designed Participation degree proof of stake consensus

mechanism. Herm is freely convertible through Exchange Protocol and ETH, and

Exchange Protocol is a two-way flow channel. We call the Exchange Protocol the EXP

standard.


4.2 Private Chain Design

In order to make the characteristics of blockchain more convenient for sports

industry, private chains (such as football chains, tennis chains, etc.) in different fields

are designed according to the characteristics of sports industry structure. We chose the

go-ethereum and Solc as the base platform for building the private chain. The base

layer adopts the open source technology and code of Ethereum Block chain. Establish

an Account system with commonality and uniqueness to save the transaction data and

Herm asset data of users. All the data in the Account is saved in the block. The data

will not be tampered with, so as to ensure the security of the asset. The Account will

be transferred to the wallet Account by the trigger condition through the Smart

Contract. Each Account is defined by a pair of keys with a private key and a public

key. The account is indexed by address and the address is 32 bits. The address is

derived from the public key and takes the last N/2 bytes of the public key. Each pair of

private key addresses is encoded in a key file.

The key file is a JSON text file that can be opened and viewed with any text editor.

The key part of the key file and the account private key can be encrypted using the

password set when the account is created, and can be set to a number that is easy to

remember.


4.3 The Hermes Chain Consensus Mechanism

Delegated Proof of Stake is the consensus mechanism selected and improved

according to the characteristics of the Hermes Chain project, hereinafter referred to as

DPOS.

DPOS is based on the user's behavior portrait to get a comprehensive score and use

comprehensive evaluation as a reward. For example, user A has registered the account

on the system of Hermes Chain, and conducted A series of activities such as browsing

project, duration, thumb up, collecting project, forwarding, commenting, voting and

participating activities in the system on the system for a period of time. The whole

process of structured Data is recorded in block. Data of Hermes Chain. Through a

series of modeling algorithms, user A is tagged with the behavior label that conforms

to its characteristics. The weighted value of the comprehensive evaluation is what we

call participation activity.

The relationship between the behavior tag and the user will reflect the relationship

between the behavior label to a certain extent. Here we use w (P, T) to denote the

number of times a behavior tag T is used to mark the user P. TF (P, T) represents the

proportion of the number of marks in the user P's all behavior tags. The user 1 has

labeled five for the behavioral label A, two of the behavior label B, one for the

behavior label C, therefore, the total tag on user 1 is TF = 5 / (5 + 2 + 1).


The corresponding IDF (P, T) denotes the scarcity of the behavior tag T in all tags,

that is, the occurrence probability of this behavior label. If a behavior label T has a

small probability and is used to tag a user, this makes the user more closely related to

the tag T. Then the system can obtain the user's comprehensive weight value according

to TF*IDF*F(x).

DPOS will be a new understanding of the convergence of interactive indexes and

mining, which will be more of a boost to the user's energy and participation, and to the

development of the project.

4.4 EXP Standards

We refer to Exchange Protocol as EXP standard, and EXP is a conversion

algorithm for the current mechanism of the anchor mechanism of currency and

constant currency.

If the history of Herm is X1, X2, X3... Xn, let's take the data of 24H time, X1 plus

X2 plus X3... Xn) /n =Xt.

The price of the HLWP is $10, based on that day of Xt and the price of the Herm.

At the same time, the time factor function f (t) and platform function f (p) when the

price will affect the time factor function by and among index KDJ line, formula of f (t)

= f (KAJ) & f (among), platform factor function f (p) we take a platform for the

average price. The Herm and ETH conversion algorithms are summarized as

FBC=Xt&f(t)&f(p).


4.5 Hermes Chain Anti-counterfeiting Determination.

The Chain of Hermes Chain is untampered and transparent, and once the

characteristics of the Hermes Chain and the original markers and the original time

stamp enter the blockchain, it can't be changed. And signature marks cannot be forged

after a technical process. When characteristics with evidence of alleged false creators

cannot correspond or matches, then you can prove such authenticity in Hermes

Chain’s.

4.6 Data Layer of Hermes Chain

In addition to the standard block chain structure, Merkle tree, hash function,

asymmetric encryption and timestamp technology, the data layer also introduces the

technology of member representative record, dynamic priority calculation, Fibonacci

sequence calculation and cryptography signature evidence.

The data layer has created a model of the block genesis transaction, and according

to the credit performance of the bookkeeping board, it's a quick query method of the

bookkeeping track record. In the data layer, in the ordinary TX Out, the transaction

type is introduced, and various extended trading models are extended and defined,

which support both traditional ordinary transactions and various complex knowledge

production transactions, and introduce the type of extended penalty transaction to

ensure the safe and stable operation of the system.

4.7 Network layer of Hermes Chain


The network layer adopts the P2P network mode, and the data of P2P network is

transmitted by broadcast. The risk of adopting the DPOC consensus is that the unit of

account is identified at the beginning of each billing cycle, and thus may cause

targeted IP attacks.

There are many ways to prevent this attack from occurring, and for the network

layer, each node is required to notify other nodes to be active.

Other networks monitor the development of the new blocks, and once the cycle is

out of the ordinary, there are other nodes to take over the billing rights. This will

ensure the validity of the transaction and effectively avoid targeted attacks.

4.8 The Application Layer of Hermes Chain

The application layer provides the function paradigm's Herm function to facilitate

the user to generate asset operations using the functional paradigm.

Complete the convention and use of the functional paradigm with a simple

interface function. Business application developers in most cases do not need to

understand the underlying implementation of logic and process, only need a custom

function paradigm about rules, flexible and diverse business application requirements

can be realized.

Given the flexibility of the business, the application layer does not interfere with

user-generated rules in addition to the underlying functional paradigm constraints.


Application layer through browser Block (Block Explorer) can query the basic

information of the trading, trading in the basic information of the description can be

traded through the electronic label, transaction type, description, and so on to get the

approval information.

5. Investment value of Hermes Chain

Herm circulates in the secondary markets. Fans buy Herm through the secondary

market and invest in players, teams and lotteries that they like or want to support

through Hermes Chain.

Through blockchain of fairness and justice, tamper-resistant guarantee accounts

use transparent, through intelligent anchor investment contract, automated operation,

internal integration EXP standard, realize the investment facilitation. Herm will be the

hard currency and communication bridge between sports and sports fans. Such a

design will prompt the rapid flow of Herm and increase the value in a short time.

6. Business Development

Hermes Chain can not only be used in the management of the accounting books of

competitive sports industry, but also the functions of fan crowdfunding, fan interaction

and other functions, which can lead to the latest application of ticketing behavior in

other industries.

Hermes Chain will work with the international mainstream exchange, to strengthen

the tokens, circulation, enlarge the influence of the secondary market, also will work


with professional block chain project community, to obtain more excellent project

guidance and development Suggestions.

At the same time, the virtual reality community of Hermes Chain has reached a

consensus with various well-known football clubs, fans clubs, sporting goods

sponsors, sports media and gaming companies, to reach the global decentralization and

integrated competitive sports community in the future.


7. The economic system of Hermes Chain

7.1 Exchange plan

Name of tokens Hermes Chain

Code Herm

Total amount of redemption 2000,000,000 Herm, never

increase issuance again.

Exchange rates 1 Herm = US$ 0.039

Hard top 800,000,000 Herm

Soft top 600,000,000 Herm

Using purpose In the table below

Exchangeable Currency: Bitcoin (BTC), Ethereum (ETH)

Settlement price and price are subject to coinmarketcap.com 22 PM of the day.


7.2 Targeted Fundraising

Time: January 15th to February 15th.

Object: qualified investors in the global capital from legitimate sources

Investment starting point: $50,000 equivalent token.

Incentive plan: to grant a corresponding proportion of additional Hermes token based

on individual investor's investment, the details are as follows:

Investment Amount in USD Bonus tokens

≥50000 3%

≥250000 20%

≥500000 45%

1. The extra reward of Herm will be initially locked.

2. The locking part will be unlocked in 10 months from the month after the launch of

the exchange.

3. The reward portion of the remaining tokens will be owned by the foundation after

the private placement.


7.3 Herm Distribution Scheme

Proportion Distribution plan Milestone

25% Community distribution After the KYC and white list certification, 25

percent of Herm will be distributed to the

community. Herm's distribution of funds in

the neighborhood will be used for the

operation of the Hermes foundation,

including development, marketing, financial

and legal consulting.

30% Private investors Private investors are professionals with

strong influence both within and outside the

industry, who can guide the Hermes in terms

of technology and business development to

help the original team to screen the right

direction of development

5% Promotional

distribution

For the media, such as community channels

of promotion.

15% Strategic cooperation

and asset replacement.

Strategic cooperation with strategic partners

in the field of digital assets, asset


replacement, etc

10% Commercial

deployment of landing

To select the appropriate sports industry

digital assets, conduct strategic deployment

in the field, project business support, and

actually achieve business landing.

20% Founding team,

consultant team.

The founding team has great contributed to

the development of the Hermes in the terms

of manpower, resources, social, and

technology. So we give Herm in return. Team

hold some initial release of 4% of the total,

then lifted 4% every six months, released

two years to complete.


7.4 Fundraising Allocation

Allocation Type Proportions Details

Technical development 30% Mainly includes rewards for

initial development teams,

recruiting experts and

developers, and technology.

Commercial

development

40% Business landing, foreign

investment, expansion and

training, technical exchange

and sharing, periodical

publication, alliance creation,

etc.

Community promotion

and legal services

10% The promotion and operation

of the community and the

related matters of all legal

services.

Daily operation 20% Daily logistics management,

transportation and office,

finance and writing reports,

etc.


7.5 Hermes Usage

Herm will be the "fuel" of the Hermes distributed product, which is the value of

the right to use. Herm has the following specific use purposes:

1. Handling fee for the application of assets.

Hermes users paid for their favorite assets by holding the Herm, and truly

democratized their assets.

2. Used for the opening of advanced social functions.

There are a lot of advanced features in the Hermes community system, including

increasing the number of construction groups, launching a group of entertainment

games, etc. Users can use the Herm to obtain relevant functions.

3. Participate in the product's built-in entertainment activities.

Hermes users can use Herm to participate in built-in entertainment activities, and

some activities can even help users earn extra Herm.

4. Reduce the transfer fee.

Hermes users can deduct 50% of the fee from the transfer transaction using Herm.

8. Introduction to the core team

9. Project schedule

March 2017: project approval.

April 2017: demonstration of business model.

May 2017: the Hermes Chain technical team is established.

June 2017: development of Hermes Chain product 1.0.


July 2017: PDPOS\EXP design is completed.

August 2017: the Herm private chain contract is complete

September 2017: the 5th iteration upgrade of Hermes Chain product version 1.0.

October 2017: Herm Europe and Asia Pacific operation team is established.

November 2017: Herm launches angel round financing, and the operation team of

North America and greater China is established.

December 2017: the European and asia-pacific private placements are initiated by

Herm

January 2018: Herm launches global public offering.

March 2018: Herm global 5 trading market, and release the source code.

May 2018: Herm Russia World Cup commercial application road show, and set up a

prize pool of 5 million FBC World Cup champion team.

July 2018: publicize the results of Herm's application in the World Cup and start the

award ceremony of the 5 million Herm Prize World Cup winners.

Documents

images.fxempire.com · Web viewThe whole process of a sports event from the scheduling to confirmation of the venue to the start of the ticketing system can be carried out on the