Zhou: FirstBlood Operated as 'Project Tron' on The DAO Before Hack
Joe Zhou · 784: Crypto: How ICO Companies Turn Money Raised Into Cash-In-Bank To Fund Growth · Sep 16, 2017 · at 7:49
Joe Zhou, founder of decentralized esports platform FirstBlood, discusses how The DAO's smart contract exploit in 2016 derailed their original plan to receive DAO funding.
0:00 / 0:16exact quote · 16.7s
720p mp4 · rendered on demand · StarZero watermark
“Before the name first slide really came into life, we were operating under the project Tron in the DAO community, and we were one of the Most popular projects that are being supported. We're thinking about launching it, but then the whole bug happened.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Joe Zhou
Zhou: Why FirstBlood Needed a Custom Token for Witness Node Utility
“For that layer, both both digital currency can work. Yeah, and then you go a little bit further where there are function, functional specific utility that cannot be achieved by ether, such as this witness Witness program would be running these only decentraliz…”
Zhou Admits FirstBlood's Crowdsale Token Pricing Ratio Was 'Very Arbitrary'
“That ratio is very arbitrary. We basically, you know, look at the previous projects, we did the token launch and then we came in with a number, and then we want to give early supporters the special perks, such as discounts to, you know, to join the crowdfundin…”
Zhou: FirstBlood Invented the Crypto 'Power Hour' Crowdfunding Concept
“And really the September 26th, we finished in the first hour, Because we were the inventor of the Power Hour concept for the whole crowdfunding thing.”
Zhou: Most dApps in 2017 Lack Real-Money Economic Functionality
“A lot of dApps right now, they haven't launched with their real, you know, real money function yet. They probably, you know, there's some products who deployed their app, applications on top of testnet, but they don't know how the real economy is going to work…”
Zhou: FirstBlood Caps Witness Node Selection Impact at 1% Per Wallet
“All this selection process, ah, Has like a cap rate on on how likely you're getting selected to be participating in the network or helping the networks to be around which we did we did cap at the one percent as a maximum impact. So it doesn't matter how much y…”