FirstBlood 1ST

$0.0465
Market Cap $ 3.979 MM (#480)
24h Volume $ 10.437 K
Chg. 24h: -20.75%
Algo. score 2.9/5  (#696)
Show Quick Stats

FirstBlood project purpose and description

FirstBlood clarity of purpose

FirstBlood purpose and aspects

When compared to existing centralized e-sports solutions, FirstBlood eliminates the chance for a singular point of failure, as well as decentralizes the entire platform.

FirstBlood additional differentiation against competition

--

FirstBlood categories

GamingDigital currencyGambling

WHAT IS FIRST BLOOD?

FirstBlood is a decentralized gaming application built on the Ethereum platform. It is an electronic sports platform built on the blockchain technology which gives game players the opportunity to challenge one another directly for rewards. The platform was developed to allow game players and prospective game players a reason to horn their skills to earn a designated price or reward.

Competition could be an individual player against another or a team against another team. Through the platform being decentralized, it excludes the presence of third parties as is common in everyday e-sports platforms which allow the involvement of casinos and some financial institutions. FirstBlood is built on the Ethereum Virtual Machine.

On this platform, there is a direct control of funds by the players or participants through the use of the smart contract. On the platform, verification is done by either the Jury Voting Pool or witnesses. Based on the reports received, pay-outs would then be awarded to the declared winner of the competition.

The platform also incorporates a ranking system that allows for healthy competition between participants based on their winnings. Based on the ranking, a hall of fame would be created and players who are in this category end up being teachers or mentors.

FirstBlood, aside from being a decentralized gaming application, it is also a cryptocurrency. The platform has its token called the 1st coin. One can only participate on the platform through the token. The utilities that are to be enjoyed by coin holders are:

  • The token is what is used to play matches
  • Through the token, voting and witnessing is made possible
  • Tournaments are hosted through the token
  • Rewards are received through token

 

What Problem does FirstBlood solve?

FirstBlood aims to provide Esports fan with more gaming opportunities than current platforms provide. Outside of the FirstBlood initiative, there are basically four tournaments that esports fans get to enjoy every six months.

This limits the amount of time and opportunities game players have to enjoy themselves, horn their skills and to compete with each other. Furthermore, the user interface of current esports operators is very confusing and difficult to understand. This scares many potential participants and it even discourages continuity among existing participants.

Also, this platform is a decentralized platform that aims to exclude the interference of middlemen. The traditional mode of operation is prone to hack, strict regulations, fraud and also very expensive for participants as they have to give these middlemen reward for their services. Participants are always scared to stake their bets for these reasons and as such, it has not allowed esports meet its potential peak. Nobody wants to be a victim of a hack or the various misconceptions that occur. Most of the activities on the platform are not customer or participant based.

 

How does First Blood solve the problems?

The numerous problems facing current operators of esports is subsumed under the fact that they all operate on a centralized system. First blood has capitalized on this shortcoming by providing a decentralized system in which participants would have direct control of the system. This is possible because of the blockchain technology.

First blood is built on the Ethereum platform and through the use of the smart contract, operations are automated. Decentralization allows users to control their earnings without any interference. Pay-outs and payments are done by the players and these funds are then cleared automatically by the platform without the need for a bank or any other financial institution. This way, the cost is reduced and the transaction is done faster.

Operating a centralized system means that accounts are centralized too, making it prone to hack, embezzlement, etc. By operating a decentralized system through the use of the blockchain, the possibility of external influences and involvement is made impossible. First blood puts the users in complete charge of their funds.

Through the use of the smart contract, alongside the decentralized witness and jury system, first blood is able to operate in an entirely different way from traditional operators. This way, the platform is not dependent on game API policy changes. If issues arise beyond the scholarship of the participants, the jury system comes in to settle such issues.

 

What Makes FirstBlood better than its Competitors?

FirstBlood is a first of its kind. Therefore, competitors here would mean traditional operators. Below are the reasons why first blood is better than its competitors

  • FirstBlood is a decentralized platform and this is possible through the use of the blockchain technology. This decentralization excludes the presence of third parties and as such, there is likely any possibility of system hack, loss of information, fraud, etc. Also, with the exclusion of any external party, cost effectiveness is achieved. The platform also ensured that a well-detailed security auditing was carried out before it was launched on the Ethereum platform. As the platform is being updated, so also would the system be updated and the result would be shared on the network for all to see.
  • FirstBlood has an easy to use and straightforward user interface, unlike the traditional operators. This way, users are encouraged to use the app without any background knowledge needed. First blood was created with a user interface to propagate the brand through providing an enjoyable user experience. The user experience starts from the creating of an account till the account is verified. Features that are present on the participant panel is the basic account information, available matches, connected games and recent matches. The interface is device considerate as it works well on both mobile and web platforms. The platform also makes use of an agile framework across platforms with the aim to reduce work not needed on some OS- focused development.
  • First Blood is the first platform to incorporate the use of reward. Game players are rewarded for their expertise. This also serve as a source of encouragement to other game players to play harder and better.
  • Through the jury and witness system, issues as regards match results are easily reviewed giving no room for offenses.

 

How can FirstBlood be Categorized

  • Gaming

The first blood platform can be categorized firstly as a gaming platform in which players from different parts of the world come together to compete against one another. The platform, although are yet to incorporate so many other games, have the vision to make the platform a gaming hub. Winners are rewarded for their excellence.

The platform provides an atmosphere for healthy competition between these players. These players are thus encouraged to horn their skills so as to achieve desired success. Consistency in winning would take one into the hall of fame wherein these players would become coaches to upcoming game players.

  • Digital Currency

A digital currency is a form of money which is digital in form as against fiat money which is physical. First blood is also a digital currency that has a prospective increase in value. Without the token, there can be no access to the platform. With the continuous increase in the number of game players and the accompanied reward system, more players would be attracted to the first blood platform and without the token, they cannot participate. This means there would be a high demand for the coin and once there is a high demand, there would be increased in value. In the run, 1st coin would be a means to invest.

  • Gambling

First blood operates as a decentralized gambling platform. Users gamble with the others without the need for a middleman. All that is needed is that the users file in the necessary conditions on the smart contract and any of the gamblers who meet up with the criteria take the price home. Every of the money goes to the winner with nothing going to any third party since it is not a centralized system like other operators.

 

What is First Blood Vision on Security?

Security is one of the major aims of the platform. Since traditional operators employ the centralized system, there are usually numerous cases of hack on both the platforms themselves and accounts of players too.  First blood being a decentralized system totally eradicates the possibilities of such nuances.

The platform employs the use of the smart contract to achieve a secured platform. The smart contract ordinarily is impenetrable as it is built on the blockchain and every information uploaded unto the smart contract, once validated is broadcasted on the whole network for all to see. The first blood platform also in a bid to discourage individuals from creating more than one account so as not to monopolize the platform has set up measures against it. This is achieved through the user reputation system. The User Reputation System would also restrict hackers and criminals alike, protect players, and enhance healthy competition between these players. From the account registration to the playing of games, the URS would be present at all times.

New players would have to gain the trust of the system before they can be ranked. This system makes it easy for malicious users to be easily identified. The matchmaking feature would place more priority on individuals with a good reputation than another without. A good reputation means more playing time, playing at higher levels and also staking more. Whenever there are cases to be settled, the system automatically provides such situation with the Jury Voting Pool and also witnesses to handle it. Members are selected randomly by the system to be a member of the JVP to preside over any matter. Judgment is based solely on facts and evidence from both parties.

 

 

Example of First Blood Use Cases/Application

  • Gaming

First Blood application can be used to play a different kind of games. It was designed essentially to meet the gaming needs of game players and to reward them for their faithfulness, diligence, and success. The use of the first blood platform to play games is towards competition and also to horn skills of upcoming players. Although currently, there is a limited number of games that can be played through the platform, it is likely in years to come that other games would be incorporated giving the platform a larger usage. Unlike other gaming platforms, this system helps to foster healthy competition between players across borders, provides the platform through which various champions come together to challenge themselves and to fight for the crown

  • Gambling

Gambling has become very lucrative of recent and as also become a source of income for a lot of people across the globe. However, it has suffered from a lot of shortcomings due to the fact that it is centralized. There have been major case of gamblers not receiving their loots due to system error or manipulation. Also, there have been cases of hack which has led to the loss of money. The loss of money implies that majority of winners who are yet to get their funds and they most likely would not get it since there really is not regulation guiding it.
FirstBlood hopes to tackle issues like this by providing gamblers with an opportunity to relate with their competitor or competitors more directly. Gambling is open to both the payers and the audience. The audience can stake on who they believe would win the match. The decentralization of gambling means that transactions would be done faster, trust is increased, there is no possibility of fund misplacement or even a hack.

  • Business

With time, the first blood platform can be incorporated into the business world with the 1st coin acting as the means of exchange. Goods and services can be exchanged, more games can be developed on the platform increase the userbase of the game. The aim of the platform is for the platform to be redeemable for services and goods within specific retailers and other individuals known on the platform. Once the demand for the token increases also, it paves way for investment as people would have to buy the coin and sell depending on the value.

 

 

 

 

 

Enjoying our data? We have spent over 4000 hours on Platform Development and Coin Research. Donations are welcome!
Trading and investing in digital assets is highly speculative and comes with many risks. The analysis / stats on CoinCheckup.com are for informational purposes and should not be considered investment advice. Statements and financial information on CoinCheckup.com should not be construed as an endorsement or recommendation to buy, sell or hold. Please do your own research on all of your investments carefully. Scores are based on common sense Formulas that we personally use to analyse crypto coins & tokens. We'll open source these formulas soon. Past performance is not necessarily indicative of future results. Read the full disclaimer here.
Dark Theme   Light Theme