FirstBlood Coin, an Ethereum-based IBS platform, announced the launch of a fundraising campaign to raise money and completed the campaign in minutes by selling 79 billion and 103 million FirstBlood Coin for $5.5 million.
FirstBlood Coin – The Company
FirstBlood is a decentralized application, dApp, which allows users to bet on eSport games.
It runs on the Ethereum Virtual Machine (EVM) and is powered by 1ST coins.
When a user opens the FirstBlood web or desktop software and sets it to a match with the 1ST coin, the coins are sent to the FirstBlood Smart Contract System and held there, which acts as a decentralized escrow.
After the game has taken place, witnesses connect themselves to the game API, analyze the results and convey the result to the Smart Contract System.
If the result is undisputed, the prize will be sent to the winner and a fee paid to the witnesses for the service offered.
If the result is contested, a jury voting pool (JVP) will vote on the result.
The FirstBlood team includes personalities such as Joe Zhou, co-founder and CEO of Alt-Options, Zack Coburn founder of EtherOptt, a decentralized options exchange based on Ethereum.
Joey Krug, core developer at Augur, the decentralized ethereum-based anticipation market, and Mikko Ohtamaa CTO and co-founder of LocalBitcoins, the world’s largest P2p bitcoin exchange.
The developers of the FirstBlood platform said their goal is to develop an ecosystem for gamers that is crypto-currency-centric, decentralized applications and autonomous locations are an excellent tool.
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The developers of the platform believe that their concept will be successful, because the use of intelligent contracts that reward participants in the game exclude the human factor.
In order to promote a healthy and competitive environment, FirstBlood Coin will implement ranking and reputation systems such as Global Ranking, Match Ranking (MMR) and the User Reputation System (URS).
The global ranking system allows users to earn a reputation based on achievements and match results. This ranking system promotes competition among FirstBlood players.
Once a player reaches a high enough ranking, he will be able to become mentor and teach less experienced players in exchange for 1ST coins.
The Match-Making-Ranking (MMR) is adjusted after each match according to the result. It allows users to be paired according to their abilities.
The User Reputation System (URS) encourages players to behave honestly and punishes players who do not.
The URS is present in every aspect of the user experience, from initial registration to professional tournament play.
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MMR also gives a higher matching priority to users with higher reputation scores.
FirstBlood Coin – The Cryptocurrency
The new platform allows players to arrange games and tournaments and see the game in real time.
The main difference between FirstBlood and similar vendors is the opportunity to receive a monetary reward for success in the game.
To make this possible, the developers created a coin called 1SF, the FirstBlood Coin.
It can also be used for the voting of jury members and for organizing tournaments.
FirstBlood Coin is a decentralized platform where players can earn rewards by demonstrating their skills in games.
Built on the Ethereum platform, FirstBlood Coin enables users to place bets on each other in popular games.
The results are confirmed and processed by intelligent contracts, excluding the possibility of fraud and the need for third parties to participate.
You can’t buy it directly for fiat on any exchange. You can choose the best BTC exchange for your region and buy BTC there, then trade it for 1ST on exchanges. Read here how you can quickly convert other coins to bitcoin and the other way around.
Our recommendation is always check if Coinbase is available for your country and buy there – as it is by far the safest and best regulated bitcoin exchange. Coinbase has acceptable fees and limits and it is a leading platform for buying BTC.
If Coinbase doesn’t support your country, use Cex.io – read how Cex.io works – it is as good or even better than Coinbase. Coinmama is also legit exchange for buying cryptocurrencies – click here to visit Coinmama.
If your country is not available on Coinbase – check for best Coinbase alternatives (such as Cexio and Indacoin – see here Indacoin exchange review) and buy BTC on one of those exchanges. You can always exchange your coins on Changelly (see if Changelly is secure place to buy crypto), instantly and directly to bitcoin.
Best and safest option to store your coins is to download an official coin wallet and store it on a hardware wallet (if it is supported) – our recommendation is just go and buy Ledger Nano S or Trezor Wallet or KeepKey, those are the safest options. You can read our article on how to use Ledger Nano S wallet and where to buy it or check out other top physical crypto wallets here. You can also create a paper wallet – learn here more about crypto wallets.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com