Chiliz Chain Now Launched To Accelerate Web3 Infrastructure

Key Points:

• Chiliz Chain is the next phase in the Chiliz project, delivering the infrastructure for sports teams and brands to build Web3 products.
• It is a Layer-1, EMV-compatible, Proof-of-Stake Authority blockchain.
• Chiliz will drive innovation on the chain through its $50M accelerator program Chiliz Labs, as well as a global series of hackathons.

Chiliz, a blockchain infrastructure provider focused on sports and entertainment, has announced the official launch of Chiliz Chain, its new EVM-compatible Layer-1 blockchain.

Using fan tokens and Web3 technology, Chiliz Chain intends to give a Web3 infrastructure to sports businesses, bringing fans and communities together. All the chain fees will be paid in CHZ. Users will have the option to stake and delegate their CHZ. Jump Crypto, Paribu, and Meria are the first Chiliz Chain validators to be announced.

Chiliz’s former blockchain is now known as Chiliz Legacy Chain, while the new blockchain is known as Chiliz Chain.

In addition, Chiliz announced the launch of a cross-chain bridge between Ethereum and the new chain, through which users can cross CHZ on the Ethereum mainnet Chain (ERC-20) to Chiliz Chain (CAP-20). Currently, the cross-chain bridge only supports CHZ tokens.

Chiliz is the blockchain technology pioneer behind the Socios.com and Fan Token digital sports ecosystems, which have over 2 million wallets and have allowed sports clubs to develop direct interactions with their worldwide followers.

Chiliz Chain, a Layer-1, EVM-compatible, interoperable ecosystem, will introduce a system of 11 active Proof of Stake Authority (PoSA) node validators, including some of the most respected names in blockchain and, eventually, leading sports properties, who will be responsible for validating transactions and creating a highly secure environment in which approved developers can build the projects that will form the backbone of web3 in sport.

Chiliz will encourage innovation on the Chiliz Chain via its $50 million accelerator program Chiliz Labs, as well as a global series of hackathons.

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