First Blood: Blockchain Token – What is it?

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Estimated reading time: 3 minutes, 8 seconds

In this series, we will cover the different types of blockchain platforms and cryptocurrencies on the market right now. We’ll give you a quick description of each blockchain/token, its function, who is their competition and where you can learn more. Episode 20 is about First Blood!

First Blood (1ST) is a global, decentralized eSports platform that allows gamers to play in matches on the platform using an built in ERC20 token, 1ST. The players can also gain rewards from their activity and challenges on the platform; this reward is in the form of a digital token.

First Blood’s purpose is intended to decentralized gaming networks, while allowing a more enjoyable experience for players and a greater ability to gain and prove reputations. 

This decentralization prevents downtime from network failures, and also has automated disputing, rather than relying on a centralized moderator. User’s tokens and deposits are completely controlled by the users, which prevents centralized companies from confiscating funds, and lessens the ability for hackers to steal them. The blockchain technology verifies the outcomes of each gaming challenge, and rewards users appropriately. They use a type of Witness and Jury system for rewarding players, which we will touch more on in a minute.

First Blood states that this blockchain-based system allows the users experience to be “fully automated, safer, and much more enjoyable;” and this is very desirable for gamers, especially professional gamers who need a disputable and verifiable reputation of their skills. They have global ranking systems, too.

The First Blood ERC20 token, known as 1ST, is used within the platform to participate in game matches and is also how players are rewarded within the platform. You need the token to challenge other players to matches, which can get the player more tokens if they win. First Blood uses the blockchain technology to keep a history of the matches and store information from each match. Using this along with their tokens and the community, rewards are given.

Witnesses and jurors watch and vote on the match and are rewarded, and users are reward for their activity within the platform. Witnesses are people who run a “witness node software to verify max outcomes with game APIs.” The jurors make up a pool called the “Jury Voting Pool,” or JVP, and they “manually review evidence to sort out disputes.” Using the witness and juror systems helps get cheaters or toxic players out of the game ASAP, which creates a better environment for other players and feed back into the reputation system built into the platform.

This is all held in smart contracts on the blockchain, which is very secure and hard to wrongly manipulate, especially in a platform that heavily relies on reputation benchmarks. Users can also use their tokens to set up customized eSports tournaments from anywhere.

So overall, First Blood is a pretty cool platform that uses Ethereum‘s blockchain, with an integrated cryptocurrency that is used to reward participators and contributors.

Their competition includes other decentralized eSports and gaming platforms like Eloplay and Gilgam. Although First Blood does seem to be the only project primarily focused on decentralizing match set ups and using the technology to settle disputes.

Find more information First Blood here, and check out the resources and information to start digging deeper into First Blood!


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