Chiliz

Chiliz, the prominent blockchain provider for the sports industry, has reached a significant milestone as it officially launches the public mainnet of Chiliz Chain. This launch signifies a crucial phase in Chiliz’s mission to revolutionize the relationship between fans, communities, and their favorite sports teams and brands using blockchain technology.With its expertise in creating highly engaged digital communities and an extensive sports network of over 150 major teams, Chiliz offers teams and brands from the sports industry and beyond the opportunity to build next-generation experiences, products, and services. These initiatives are powered by Chiliz’s native token, $CHZ.<h2 id="header-0">Game-Changing Web3 Platform for the Sports Industry</h2>Chiliz Chain is a Layer-1, EVM-compatible, interoperable ecosystem that introduces a system of 11 active Proof of Stake Authority (PoSA) node <a href="https://blockchainreporter.net/glossary/validator/" rel="noopener noreferrer nofollow">validators</a>. These validators include respected names in the <a href="https://blockchainreporter.net/how-can-features-of-blockchain-support-sustainability-efforts/" rel="noopener noreferrer nofollow">blockchain space</a> and will eventually involve leading sports properties. They are responsible for validating transactions and creating a highly secure environment for approved developers to build projects that will shape the foundation of Web3 in sports.The initial validators announced are Jump Crypto, Paribu, and Meria (formerly known as Just Mining), with more announcements expected soon. On the Chiliz Chain, all fees will be paid using the Chiliz native token, $CHZ, which serves as the network enabler for this new <a href="https://blockchainreporter.net/glossary/digital-asset-ecosystem/" rel="noopener noreferrer nofollow">ecosystem</a>. <a href="https://blockchainreporter.net/glossary/staking/" rel="noopener noreferrer nofollow">Staking</a>, a crucial mechanism where users delegate their tokens to secure the network, is an integral part of the PoSA model. $CHZ holders can now actively participate in the ecosystem’s development and receive rewards by staking their tokens on the chain.Chiliz Chain aims to become the home for leading sports brands in Web3, with the opportunity for Chiliz’s existing sports network of <a href="https://www.socios.com/" rel="noopener noreferrer nofollow">Socios.com</a> partners and other major brands from the sports industry and beyond to explore innovative ways of bringing fans and communities together through Fan Tokens and Web3 technology.Chiliz plans to foster continued innovation within the Chiliz Chain ecosystem through Chiliz Labs, a $50 million accelerator and incubator backed by Jump Crypto. Chiliz Labs will support early-stage sports-focused blockchain projects seeking to build on the Chiliz Chain. Over the next few months, Chiliz Labs will unveil a range of Web3 sports projects, including <a href="https://blockchainreporter.net/metaverse/" rel="noopener noreferrer nofollow">Metaverse</a>-based sports platforms, AI-based content platforms, 3D digital sports collectibles, and <a href="https://blockchainreporter.net/nft/" rel="noopener noreferrer nofollow">NFT</a> ticketing programs.

Chiliz Unleashes Web3 Potential in Sports with Public Launch of Layer-1 Blockchain

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