Chiliz Unveils Its Blockchain Technology

Chiliz, a social media solutions provider, recently launched its upgraded blockchain technology, Chain 2.0. This blockchain operates on a proof-of-stake authority (PoSA) consensus mechanism, offering faster block times, lower fees, and decreased energy consumption.

Quick take:

  • Chiliz’s Chain 2.0 blockchain uses a proof-of-stake authority consensus mechanism to secure and control fan tokens and digital assets.
  • Chiliz is giving new users free non-fungible tokens (NFTs) for a limited time.
  • Sports and entertainment brands can create unique NFTs, use decentralized finance systems, and revive traditional fan practices in Web3 with Chain 2.0.

Chiliz Unveils its Groundbreaking Layer 1 Blockchain Technology

In celebration of its fifth anniversary, Chiliz is giving away free non-fungible tokens (NFTs) to new users who sign up.

Chiliz CEO Alexandre Dreyfus emphasizes the importance of evolving from a simple token to a full-fledged blockchain ecosystem. He introduces the “Fan Token Everywhere” program, which aims to increase in-stadium fan engagement, provide web3-based ticketing and payments, and bring back the tradition of collecting memorabilia in the web3 environment.

The Chiliz token (CHZ) drives the Chiliz ecosystem, adding utility for accessing dApps, deploying smart contracts, and transferring token assets. Given that, CHZ holders who participate in staking receive rewards for contributing to network security. Moreover, Chiliz plans to launch up to ten projects in the coming months, including NFT ticketing, athlete-focused fan tokens, and partnerships with Web3 infrastructure firms.

To increase adoption, Chiliz intends to host global hackathons for developers in stadiums and sports arenas in 2023 and 2024. This new layer of the blockchain will further the success of the company’s fan tokens and the Socios platform.

Chiliz CEO Unveils New Blockchain Era with the Launch of Chain 2.0

With this upgraded blockchain, Chiliz aims to provide improved security and control over fan tokens and other digital assets. Also, the company touts its API access, vast user community, and robust network effect as excellent reasons for choosing Chiliz. Notably, the upgraded logo showcases Chiliz’s commitment to innovation and compatibility with the Ethereum Virtual Machine.

Chiliz’s launch of Chain 2.0 and its limited-time offer of free NFTs is a significant step in the company’s journey to becoming a full-fledged blockchain ecosystem. Plus, participating in “Fan Token Everywhere” enables sports and entertainment brands and developers to accomplish a variety of goals. This includes developing original NFTs, launching decentralized financial systems, and evolving games that provide fans with tangible rewards.

Overall, Chiliz’s Chain 2.0 provides a secure and verified way to store digital assets on the blockchain. Furthermore, the blockchain makes it an attractive option for individuals and businesses alike. Finally, the company’s efforts to increase adoption through hackathons and partnerships will help to drive growth and further the success of the Chiliz ecosystem.

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