Get to Know Crypto Chiliz, This Football Club Coin!

Industry crypto now seen as an investment sector. Many people are attracted to crypto assets because they want to invest or earn big profits. One of them is Chiliz or CHZ.

Although this has begun to change with the presence NFTs and other crypto tools, investment remains the main attraction for new users.

However, Chiliz is something special. CHZ is the crypto-profit behind the Socios.com app, an app focused on engaging players with their favorite sports teams. 

Know Crypto Ball Chiliz?

Chiliz or better known as CHZ is a crypto service created for the sports fan environment. Chiliz wants to change the way football players interact with their favorite club or association.

Therefore, CHZ uses blockchain and crypto technology for fans to participate in various events of their favorite club. Chiliz token is CHZ based on ERC-20 Ethereum and BEP-2 Binance.

Chiliz allows fans to join their favorite sports team directly through an application called Socios.com. Fans can purchase fan tokens or separate fan tokens that serve as voting rights and special access tokens.

Each CHZ-supported sports club can determine the rights of its supporters holding this particular logo. For example, PSG (Paris Saint Germain football club) fans can vote for the best goal of the season and even meet their idol. Currently, CHZ has many partnerships with various sports teams around the world. 

CHZ Development Team

Alexandre Dreyful founded Chiliz in 2018. In October 2018, 8.8 billion Chiliz (CHZ) tokens were issued and distributed to the first donors. Chiliz raised $66 million on Binance as one of his first investors.

After that, the CHZ token was listed on several exchanges, including Binance and BitMax. Then, the Socios.com platform was launched at the end of December 2019. Currently, there are 73 fan icons registered on Socios.com.

Chiliz has a proven ability to attract more players to its platform and can offer a variety of attractive offers for its fans. 

Also read: Crypto Playing Strategy for Beginners

How CHZ Works

Chiliz is a cryptographic tool built on top of the Ethereum network with smart contracts that you can view and analyze. Therefore, CHZ currently does not have its own blockchain.

The CHZ token and all Chiliz fan tokens are compatible with all compatible platforms and ERC-20 tokens. However, CHZ has a side-chain that is allowed on top of Ethereum with a proof-of-authority (PoA) system (named CHZ Chain 1.0).

The PoA verification process processes transactions similar to Proof of Stake (PoS) using validators. However, nodes or computers can process transactions within a predetermined PoA. 

The sponsor must own the rights granted to him by the network. This makes CHZ a highly regulated platform compared to other applications on the blockchain.

Therefore, it refuses to overthrow the government so that its platform can process transactions quickly and at low fees. CHZ is currently planning to create its own blockchain called Chiliz Chain 2.0 (CC2).

CC2 will enter the mainnet domain in the fourth quarter of 2022. Currently, Chiliz dominates this side of support but will expand to include outsiders to make the network more secure. 

Also read: The difference between Crypto Coins and Tokens and Their Effect on Prices

As other info, you can also buy VCG Tokens on BitMax and Indodax. This token belongs to VCGamers which you can stake.

Get it the latest update regarding the VCG Token only on VCNWS!