The world of cryptocurrency offers a vibrant landscape for the public, not just by embracing innovation but also by celebrating the passion for sports. Recognizing this, Chiliz Chain was born to maximize the utility of fan engagement in global football. So, what is Chiliz? Let’s dive in with Coin68 to explore this groundbreaking project.
What is Chiliz (CHZ)?
Chiliz (CHZ) is a cryptocurrency project designed exclusively for sports and entertainment, aiming to bridge the gap between the sports world and fans through technological advancements and community growth. Chiliz focuses on enhancing fan interaction via tokens, allowing them to engage with their favorite clubs and participate in exclusive experiences.
Key Features of Chiliz Chain
EVM Compatibility
Chiliz Chain is a fork of BNB Smart Chain (BSC) and Ethereum, inheriting Ethereum's EVM mechanics. This ensures seamless compatibility with Ethereum tools, simplifying development for builders on the chain.
Proof of Staked Authority
Chiliz Chain combines Proof of Authority (PoA) and Delegated Proof of Stake (DPoS) to create Delegated Proof of Staked Authority (DPoSA). Key aspects include:
- Validators produce blocks in rotation.
- Staking CHZ secures the network and rewards participants.
Staking
Staking CHZ supports network operations, transaction security, and blockchain integrity. Participants earn CHZ rewards, incentivizing contributions to network stability.
Components of the Chiliz Ecosystem
ChilizX Fan Token Exchange
ChilizX is a dedicated exchange for trading fan tokens representing top football clubs. Users need CHZ to trade these tokens.
Socios.com
Socios is a mobile app enabling fans to interact with clubs through token ownership and voting on club-related decisions, fostering deeper engagement.
Chiliz Labs
Chiliz Labs accelerates Web3 sports projects, offering strategic guidance and funding. Focus areas include:
- NFT Marketplaces: Mint, trade, and showcase NFTs.
- Ticketing Solutions: Combat fraud and enhance transparency.
- Fan Token Utilities: Empower fan participation and rewards.
Fan Tokens
Fan tokens enhance fan-club interactions, with top tokens like BAR (FC Barcelona) and PSG (Paris Saint-Germain) leading the market. Total market cap exceeds $396 million (CoinGecko, April 2024).
CHZ Token Basics
| Metric | Details |
|---|---|
| Token Name | Chiliz Token (CHZ) |
| Blockchains | Ethereum, BNB Chain, Solana |
| Total Supply | 8,888,888,888 CHZ |
| Use Cases | Utility, Governance, Gas Fees |
Team and Investors
Chiliz’s global team brings over 20 years of tech experience. Key investors include Binance Labs, Jump Capital, and OK BlockChain Capital, with $65 million raised.
Conclusion
Chiliz revolutionizes fan engagement in sports through blockchain, offering innovative tools like fan tokens and Socios.com. This article provides a comprehensive overview of its ecosystem and impact.
FAQ
1. What is Chiliz Chain used for?
Chiliz Chain powers fan engagement platforms like Socios.com, enabling tokenized interactions between fans and sports clubs.
2. How can I buy CHZ tokens?
CHZ is listed on major CEXs like Binance, OKX, and KuCoin, as well as DEXs like Uniswap.
3. What are fan tokens?
Fan tokens grant voting rights and exclusive perks for sports club supporters, tradable on ChilizX.
4. Is staking CHZ profitable?
Yes, staking CHZ yields rewards while securing the network.
5. Who invests in Chiliz?
Notable investors include Binance Labs and Jump Capital.
6. Can I use CHZ for gas fees?
Yes, CHZ serves as gas for transactions on Chiliz Chain.