What is Chiliz (CHZ)? How does it work?

Chiliz (CHZ) is a blockchain platform designed to provide solutions for the sports and entertainment industry. CHZ is primarily used on the Socios.com platform, where fans can buy and trade tokens of their favorite sports clubs.

To understand more about Chiliz (CHZ) and how it operates, please follow the content below from AZCoin!

What is Chiliz (CHZ)?

What is Chiliz (CHZ)?
What is Chiliz (CHZ)?

Chiliz (CHZ) is a blockchain platform designed to connect fans with sports and entertainment clubs. Aimed at enhancing fan interaction and engagement, Chiliz provides Fan Tokens through the Socios.com platform. These Fan Tokens allow fans to participate in club decisions, receive rewards, and have unique experiences.

Project team, investors, partners

Project team

The Chiliz project team comprises over 250 experts from 27 countries, with extensive experience in web and platform development, including payment solutions and gaming. They collectively boast over 20 years of industry experience.

Specifically:

  • Alexandre Dreyfus (CEO): He founded and developed several technology projects such as Mediartis, Webcity, Winamax, and Chiligaming.
  • Emma Diskin (COO): She has held key positions such as Chief Information Officer, Chief Marketing Officer, and Chief Operating Officer at various media and technology companies.

Investors

Chiliz has attracted the interest of many reputable investors, including venture capital firms like Binance Labs, Jump Capital, FBG Capital, Ceyuan Ventures, OK Blockchain Capital, and numerous others.

Partner

Chiliz has collaborated with a range of prestigious sports organizations worldwide, including football clubs such as FC Barcelona, Juventus, Paris Saint-Germain, Inter Milan, AC Milan, Manchester City, Arsenal, AS Roma, and others. They have also partnered with organizations like Gallagher Premiership, NFL, MLS and Enjin.

How does ChiliZ work?

How does ChiliZ work?
How does ChiliZ work?

The problem that ChiliZ is facing

The rapid growth of the esports and electronic sports economy has led to challenges in managing teams and clubs. Some limitations of Chiliz include:

  • Fans face barriers to participation, and project crowd management isn’t tightly controlled.
  • Fans do not have voting rights in club management.
  • Internal club elections lack transparency and reliability.
  • The current esports platform is insufficiently centralized.

ChiliZ’s solution

The Chiliz development team, with extensive experience in web and platform technologies, identified limitations in sports entertainment and implemented a Proof of Authority (PoA) consensus mechanism instead of Proof of Work (PoW). With PoA, validators use their reputation to authenticate blocks on the blockchain.

This solution provides the following benefits:

  • Fans have voting rights and decision-making power in managing their favorite teams.
  • Elections are organized publicly with transparency.
  • Crowd management and control have become more effective.
  • Creates a new wave in electronic sports.
  • Transactions become safer and more efficient.

Outstanding products of ChiliZ

Chiliz stands out with three main products:

  • Chiliz Exchange: A specialized cryptocurrency exchange for sports tokens, enabling users to buy, sell, and trade Fan Tokens of various sports clubs and teams.
  • Socios.com: An interactive platform allowing fans to purchase and use Fan Tokens to participate in club decisions, receive rewards, and enjoy special experiences.
  • Chiliz Chain: A dedicated blockchain supporting transactions and activities related to sports and entertainment, ensuring transparency, security, and efficiency in management and transactions.

Detailed information about CHZ Token

Detailed information about CHZ Token
Detailed information about CHZ Token

CHZ Token is the primary currency of the Chiliz platform, used for paying for services and transactions across Chiliz products.

Important indicators of CHZ

  • Token Name: CHILIZ.
  • Ticker: CHZ.
  • Blockchain: Ethereum & Binance Chain.
  • Token Standard: ERC-20.
  • Contract: 0x3506424f91fd33084466f402d5d97f05f8e3b4af
  • Token Type: Utility, Governance.
  • Total Supply: 8,888,888,888 CHZ.
  • Circulating Supply: 5,344,064,580 CHZ.

CHZ Token Allocation

  • Token Sale & Pre-Sales: 34.5%
  • Userbase Reserve: 20%
  • Marketing Operations: 15%
  • Strategic Acquisitions: 15%
  • Seed Investors: 7.5%
  • Team: 5%
  • Advisory Board: 3%

Where to buy and sell CHZ Token?

Currently, CHZ Token can be bought and sold on top cryptocurrency exchanges such as Binance, Crypto.com, and Huobi Global. Users can purchase CHZ using other cryptocurrencies like bitcoin (BTC), ETH or Tether (USDT).

In which wallet to store CHZ Token?

In which wallet to store CHZ Token?
In which wallet to store CHZ Token?

Similar to dxdy token, CHZ Token is also supported for storage in various multi-platform wallets such as Ledger Nano S, Trezor, MyEtherWallet, MetaMask and Trust Wallet. However, users can also store CHZ directly on exchanges if they prefer.

Is Chiliz (CHZ) a good investment?

Combining blockchain technology with the sports industry, Chiliz is a promising project with great potential for the future. The platform has attracted significant attention from various partners and reputable investors, demonstrating confidence and support in its developmental prospects.

However, like any investment, investing in CHZ carries its own risks. Investors should conduct thorough research and an evaluation process of the project before making investment decisions to understand the potential risks involved.

The end

Through this article, AZCoin hopes you have gained a clearer understanding of Chiliz (CHZ) and the detailed information about CHZ Token. Please consider and thoroughly research before deciding to invest in this project. Wishing you luck and success in your investment journey!

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