The Chiliz Chain 2.0 Testnet is Live
Table of contents:
- Chiliz makes another step towards establishing an improved blockchain network.
- Better than the Ethereum blockchain.
Chiliz makes another step towards establishing an improved blockchain network
There isn't a blockchain firm that gets so much attention from us than Socios and its subsidiary Chiliz. This kind of attention is totally justified because no one is doing more for the adoption and promotion of this technology and the products built on it, such as fan tokens and sports collectibles. Socios currently holds the monopoly on sports-related blockchain solutions and is likely to fortify it even more as the team has on its way to establishing the first Layer-1 blockchain dedicated solely to sports and entertainment industries called Chiliz Chain 2.0.
The UK-based firm made an announcement that it had launched the public testnet for the said blockchain dubbed Scoville. A quick reminder that Socios already runs the Chiliz blockchain that’s the foundation for all of its fan tokens that have become a major hit among elite sports organizations, mostly football teams from top European leagues. But Chain 2.0 will take it a step further as it will allow users to mint non-fungible tokens (NFTs), as well as proprietary fan tokens, create exclusive products for the decentralized finance (DeFi) sector, develop play-to-earn games, which is gaining huge traction, and much, much more. Basically, Chiliz Chain 2.0 will become the gateway for sports teams and their fans to the emerging Web3.
Better than the Ethereum blockchain
The introduction of this Layer-1 blockchain will mark the biggest expansion that Socios made since its emergence on the blockchain horizon in 2019. Since then, over 130 prominent sports organizations have incorporated its products, mostly fan tokens, and saw a significant improvement in global fan engagement by granting token holders some minor voting rights along with many other means to become deeper involved with their favorite teams.
Chiliz’s new blockchain solution is the fruit of collaboration with another blockchain project Ankr which is known as a very reputable provider of decentralized infrastructure developed on the basis of Ethereum Virtual Machine (EVM). But its main advantage lies in ultra cheaper gas fees - those on the Ethereum network still remain exorbitant - along with considerably higher throughput, and a substantially improved interaction with underlying smart contracts. This entire blockchain ecosystem for sports is powered by the Chiliz (CHZ) token.