Chiliz Chain is the new Layer-1 blockchain launched by Chiliz, enabling sports teams and brands to build innovative products and experiences for fans in the emerging web3 space.
What is Chiliz Chain?
Chiliz Chain is a Layer-1, EVM-compatible, interoperable blockchain launched by Chiliz, the leading blockchain provider for the sports industry. It aims to be the home for major sports brands to explore web3 opportunities and build fan-focused products using Chiliz’s $CHZ token.
What are the key features?
Chiliz Chain uses a Proof of Staked Authority (PoSA) consensus mechanism, providing lower fees, faster transactions and significantly lower energy consumption compared to proof-of-work blockchains. It also supports the EVM, allowing developers to build apps using solidity and existing Ethereum tools.
What role does $CHZ play?
All fees on Chiliz Chain will be paid in $CHZ, the native token of the ecosystem. $CHZ holders can also stake their tokens to secure the network and earn rewards.
Benefits for sports brands
Sports teams and brands in Chiliz’s existing network, including top soccer clubs, UFC and F1 teams, can leverage Chiliz Chain to build next-generation experiences for fans using web3 technologies. This can help foster stronger connections with their global communities.
Where to buy CHZ token?
Chilliz has been listed on several centralized exchanges, including Bybit, MEXC Global and Gate.io and can be purchased through these various platforms. For Dutch and Belgian users CHZ can be bought on Bitvavo
The post Chiliz Chain: Enabling Web3 Innovation for Sports appeared first on YourCryptoLibrary.
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