FirstBlood.io (“FirstBlood”) is an upcoming decentralized eSports gaming app that will allow individuals to test their skill and compete in 1v1 and team vs team matches for popular online games, such as League of Legends, Dota 2, and Counter¬Strike: Global Offensive.
FirstBlood’s innovations will allow skill based competition to take place independent of middlemen, such as financial institutions or casinos. The cryptocurrency Ethereum allows for the creation of smart contracts that run business logic autonomously in the blockchain. These smart contracts can be used for fast, secure and reliable processing of results and rewards from competitive eSports matchplays. Unlike existing platforms (which are both skill and game of chance¬based), all of FirstBlood’s transactions are publicly verifiable, viewable, resistant to counterfeit, and not subject to the risk of institutional processing.
Traditional online businesses with centralized structures are subject to hacking, strict financial regulations, and onerous overhead costs. Peer¬to¬Peer (“P2P”) decentralization allows skill based competition without reliance on payment processors, reduces operational regulatory burdens, and protects against organizational corruption such as fraud and embezzlement.
Each match outcome will be automatically verified by two groups: Witnesses, and/or the Jury Voting Pool (“JVP”). Witnesses are people running the automated Witness node software that verifies and reports game results. Payouts will be rewarded to the winner based on player reports and Witness checks. This significantly reduces the risk of fraudulent reporting that is rampant on similar platforms.