Chiliz has almost 250 staff spread across different regions. It is a blockchain provider that mainly targets the event and entertainment industry. At the time of writing, Chiliz has its regional offices in London, Madrid, Miami, Istanbul, Lyon, and Malta.
The native token of Chiliz is $CHZ. One can buy and sell $CHZ on any leading Crypto exchange platform. The token has finally got a boost in its value with a huge step that Chiliz has taken in recent days.
Incentives for the holders of $CHZ have a reason for with Chiliz price prediction estimating that the prices will rise in the coming times ahead. The current transformation, or any other planned upgrade, is sure to offer more incentives to the community members.
Scoville Testnet, Now Live!
Chiliz published a blog post to announce that it has taken Scoville live on the network. Scoville is a public testnet for Chiliz Chain 2.0, a blockchain that was created solely to support the event and entertainment industry.
With Chiliz Chain 2.0’s update, the network will now be able to facilitate three processes for its members. These are:
- Building Play2Earn Games & DeFi products,
- Minting Fan Tokens & non-fungible tokens, and
- Creating programs like loyalty, event, & merchandise for the users.
All the elements constitute a part of the upcoming Web3 ecosystem. Ventures that partner with Chiliz Chain 2.0 will be able to avail of the benefits of all these elements.
The space will be powered by $CHZ, a token that will now witness the transformation to the network enabler. $CHZ was earlier spotted as an in-app currency at Socios.com, a fan engagement platform.
From being an in-app currency to stepping inside Chiliz’s open and multi-vertical ecosystem is indeed a huge step. Some members say that it was long overdue since late 2019, the time when it was brought into the market.
Chiliz collaborated with Ankr to develop Chiliz Chain 2.0. Ankr is a provider of decentralized infrastructure that contributed immensely to making the launch of Chiliz Chain 2.0 a huge success.
It is embedded with crucial technical features like EVM compatibility and offers higher TPS for developers to leverage efficiency while interacting with smart contracts.
The Proof-of-Stake Authority model has been deployed to ensure that the network works at an efficiency of 2000x more than the Proof-of-Work model.
$CHZ holders also benefit from the developments. They can become active validators on the network to receive returns from the growth of the ecosystem. However, only those who have staked their holdings and are approved by the network will be eligible for becoming active validators.
Alexandre Dreyfus, the Chief Executive Officer of Chiliz & Socios.com, thanked a network of more than 130 partners and connections for making Chiliz Chain 2.0 a mainstream Layer-1 blockchain.
He added that this was a huge step for the native token as it got transformed to becoming the enabler of the new, open, mainstream, and multi-vertical blockchain for sports and entertainment.