Good evening Publish0x community! Welcome back in this new article of my “Easy & Short Cryptocurrencies Made Accessible” area.
In this article we talk about more features of Chiliz!
In the last E&S article I introduced you Chiliz (CHZ) and I said that is a project born during the last years and with a business model completely innovative and different. In fact, the project considers many features, in each case related to the world of cryptocurrencies and tokenized assets. The real novelty is represented by a platform called Socios.com. Within it you can buy a new class of assets, namely Fan Tokens. For those who do not know them, Fan Tokens can be considered tokens in all respects, associated with a football club, or any other sports club that decides to participate in the project.
Chiliz Mining
Based on the Ethereum protocol, CHZ is an ERC20 utility token that is a leader in sports tokenization.
CHZ token serves as a digital currency for the Chiliz.net and Socios.com platforms that allow soccer fans to purchase CHZ tokensand exchange them on these platforms for later use as fan tokens. Another feature of Chiliz is its supply is limited and its tokens are fungible, which means its ownership can be traded and its price is determined by the market.
The CHZs' blockchain infrastructure uses the Proof of Authority (POA) consensus mechanism, an evolution of Proof of Work (PoW).
While with PoW, network nodes must solve mathematical problems to validate blocks, POA is less computationally intensive. This is because, unlike Pow, it uses a set of "authorities," i.e. nodes that are explicitly authorized to create new blocks and secure the blockchain.
CHZ Token
CHZ, with a market cap above 1 billion $, is actually trading around 0.17-0.20$ range, after an ATH around 0.75$ in April 2021.
Chiliz serves as:
- A utility tool within the Socios platform.
- An exchange asset with its own value and present within the crypto market.
Regarding the first point, as we will have the opportunity to see in relation to the operation of Chiliz, the CHZ token allows to obtain the previously exposed Fan Token. Regarding the second point, Chiliz CHZ can be considered a token belonging to the well-known ERC-20 category. This acronym is known to crypto enthusiasts and indicates the creation of the asset through the well-known Ethereum technology.
In addition to being an ERC-20 token, Chiliz CHZ can also be seen as a TRC-20 token (in this case referring to the Tron blockchain) as well as a BEP-20 token. At the time of launch, the first percentages on the proposed total issue (8.8 billion tokens) were divided among multiple sub-funds: initial investors, advisory board, development team, other parties.
Next Sunday I’ll introduce to you a new cryptocurrency.
Have you already invested in CHZ or fan tokens? Let me know in a comment.
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