FirstBlood

1ST
18.96 % (24hr)

$ 0.0314075013

❝ First Blood is P2P competitive gaming platform built on the top of Ethereum Blockchain which solves the majority of the concern in the traditional gaming platform. ❞
Market Cap

$ 2.687M

Current Supply

$ 93.47M

Max Supply

$ NA

24hr Volume

768.888624602

Proof

-

website

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Overview

First Blood is a decentralised eSports gaming platform (DApps) built on Ethereum blockchain for P2P competitive gameplay. The platform functions on Ethereum Virtual Machine (EVM) and is powered by its 1ST token. First Blood intends to make the eSports platform more transparent and efficient by transforming it into crypto-community.

Its autonomous structure allows skill-based competition to take place independently without being subject to any downtime, hacks, financial regulations and free from the clutches of middlemen. Ethereum allows for the creation of smart contracts and run business logic autonomously on the blockchain that can be used for fast, secure processing of match results and rewards from the competitive eSports matchplay. All the transactions on the First Blood platform can be publicly viewed and verified without being subject to the risk external processing.

In the traditional gaming platforms have a flawed structure which are hugely centralized and none support seamless customer experience which often leads to confusion and potential for fraud. First Blood decentralized online platform rescues gamers from the problems associated with the current offering and also fill the gap in the growing eSports segment.

How Does it Work

Its token 1ST is an integral part of the platform to get access to the ecosystem and the economy. The holders of the 1ST token enjoy four major utilities such as:

  • Playing Matches
  • Witnessing matches and voting on the jury
  • Hosting tournaments
  • Claiming rewards from referrals

When the user bets on a competitive match with its token 1ST, the tokens are sent and held by the First Blood smart contract on the Ethereum blockchain which also functions as a decentralized escrow. After the match, Witnesses connect to the game API, analyze the result and communicate the result to the smart contract. If the result went uncontested, then the rewards are released to the winner and a fee is paid to the witnesses. If the results are countered, the results will be analysed and voted on by Jury Voting Pool (JVP).

Witnesses and Jury Voting Pool (JVP) two main component of First Blood.

Witnesses are the users randomly chosen to analyze the post-match results and also responsible for running the automated witness nodes and a fee is paid for their services. In order to become a witness in the First Blood platform, they need to have 1ST token balance and need to send a special transaction to the smart contract to signal that they want to participate in the witness pool.

Jury Voting Pool (JVP) is a mechanism to address the contested match results. Whenever a match result is contested, a group of juries from JVP vote on the match outcome manually and record the evidence provided by players. Then the group of jury votes and the winner is rewarded. Those juries that vote against the majority are penalized.

Key Features

Global Ranking System: This system allows users to earn reputation based on their achievements and match results. It increases competition among the players and once the players reach high enough, he/she will able to mentor less experienced players in exchange for 1ST tokens.

Match Making Ranking: After every match, the player is adjusted according to their results and skills. It allows players to be paired accordingly.

User Reputation System (URS): URS rewards players for the honest conduct and penalises those who don't which ultimately affects the user's global ranking. URS is present is present in every aspect from initial sign-up to tournament matches play.

Founding Members and History

The project started around mid-2016 in which Joe Zhou is the Project lead and Developer and Marco Cuesta is the Head of Business Development. 

In its crowdsale in September 2016, First Blood raised $5.5 million in 465,312 ETH which was raised within minutes. Majority of the raised capital will be used in developing and strengthening the platform.

Key Links

Website: https://firstblood.io/#/home

Whitepaper: https://prod.coss.io/documents/white-papers/first-blood.pdf