Chiliz Launches New Layer-1 Blockchain, CHZ Price Soars 20%
Chiliz, the fan token project, has officially launched its own blockchain while introducing CHZ staking capabilities.
On February 8, Chiliz (CHZ), known for issuing fan tokens for top sports organizations globally, celebrated its 5th anniversary by launching its own blockchain, named Chiliz Chain 2.0.
Chiliz Chain 2.0 is an independent blockchain utilizing a Proof-of-Stake Authority (PoSA) consensus mechanism with 11 validators. The goal of this Layer-1 solution is to offer users fast transactions, low fees, and energy efficiency.
Previously, Chiliz operated on Chiliz Chain 1.0, a Proof-of-Authority (PoA) blockchain where fan tokens were issued.
The new CHZ token will serve as the native currency of the new blockchain, used across all dApps developed on the platform. CHZ holders will also be able to participate in staking to earn additional rewards.
Boom. Block #1 of @chiliz Chain 2.0 was produced at 8.08 UTC on the 8th of February. There is 8,888,888,888 $CHZ. This is part of our DNA. https://t.co/aVvafqQvnp pic.twitter.com/K3JiIbpmKp
— Alexandre Dreyfus 🇹🇷 (@alex_dreyfus) February 8, 2023
Chiliz’s new blockchain promises to be EVM-compatible from the start, allowing it to connect with dApps, Play-to-Earn games, and NFTs on the Ethereum platform, facilitating easy asset transfers between the two blockchains.
In the coming months, Chiliz will unveil 10 projects developing products on Chiliz Chain.
𝐂𝐡𝐢𝐥𝐢𝐳 𝟓𝐭𝐡 𝐀𝐧𝐧𝐢𝐯𝐞𝐫𝐬𝐚𝐫𝐲 | Limited Edition NFT 🤩
— Chiliz - The Sports Blockchain ⚽🏆 (@Chiliz) February 8, 2023
For our 5th anniversary, we wanted to create something very special to reward our Chilizens.
Introducing: 100 limited Anniversary NFTs which can be won throughout the festivities 👏#ChilizAnniversary ⚡️ $CHZ pic.twitter.com/nw4L9r0VXE
In celebration of its 5th anniversary, Chiliz has also refreshed its branding to mark a new chapter for the project. Additionally, South Korean national team player Minjae Kim, who plays for S.S.C. Napoli in Serie A, has been named as the brand ambassador.
Following these positive announcements, the price of CHZ has surged nearly 20% in recent hours.
1-hour CHZ/USDT Chart on Binance as of 07:00 PM, February 8, 2023
To date, Chiliz and its parent company Socios have partnered with and issued fan tokens for over 170 major sports organizations worldwide, including FC Barcelona, Paris Saint-Germain, Manchester City, Juventus, S.S.C. Napoli, Inter Milan, AC Milan, Arsenal, Atlético Madrid, A.S. Roma, UFC, and F1 teams.
