Chiliz, one of the leading blockchain fintech service providers globally for sport and entertainment, has announced the public testing of its newly established Layer-1 blockchain network, “Chiliz Chain 2.0.” Chiliz has partnered with decentralized infrastructure protocol, Ankr to develop Chiliz Chain 2.0 protocol.
In an April 1 announcement, the digital asset sporting and entertainment-oriented project Chiliz confirmed the public launching of the Scoville testnet for its newly-established Layer-1 blockchain network, “Chiliz Chain 2.0,” dubbed CC2.
The Chiliz Chain 2.0 now prepares to advance the Web3 capabilities of high-profile sporting and entertainment firms to create non-fungible tokens (NFTs) and fan tokens. The protocol also plans to establish several decentralized finance applications (dApps), play-to-earn games, and implement a wide range of programs and services for its community.
Launched in 2018 in Malta, Chiliz has positioned itself as the leading digital asset for sporting and entertainment engagement, with its native token CHZ serving as the primary currency with the fan-oriented Socios.com platform.
While commenting about the newly launched Scoville testnet, Max Rabinovitch, the chief strategy officer at Chiliz, explained the general process of stakeholder approval and the on-chain validation mechanism proposed within the proof-of-stake authority model, stating:
“The number of validators will increase over time, as the ecosystem grows and the fees are significant enough to be shared across more validators.”
“Approval of the validators must go through our governance process, with validators voting to approve any new validators. Voting power will depend on the amount of $CHZ stacked by each validator.”
The Scoville testnet features six phases, with each iteration aligned with the brand new ethos and following a specific chronological order based on the chili pepper Scoville scale. Upon success, Chiliz will officially launch Habanero Mainnet between Q3 and Q4 2022.
According to CoinGecko, CHZ currently stands at position 66 in market capitalization list, valued at $0.284. Chiliz’s digital asset reached an all-time high last year but has since tumbled just like other assets in the market.
While speaking about Chiliz’s vision on the general growth in engagement and utility of the CHZ token for both fans and developers amid the recent transition towards a more inclusive ecosystem, Rabinovitch mentioned:
Buy Crypto Now“Utility and fan engagement is achieved through fan tokens on Socios.com, where CHZ has existed as a medium of exchange, but thanks to CC2, Socios.com is no longer the sole steward of the Chiliz narrative, and that “holders will be able to stake their CHZ allowing them to become active network participants.”
Chiliz Aims To Offer Infrastructure Services
Furthermore, the Chiliz Labs accelerator anticipates offering infrastructure services, technical assistance, and funding grants to developers seeking to build on-chain applications on the Chiliz Layer-1 blockchain.
Earlier this week, Socios.com announced the signing of world champion and footballing icon Lionel Messi as the company’s global brand ambassador. The successful deal was reportedly worth $20 million and will extend for an initial three-year period.
Socio.com has already integrated more than 130 established football organizations, including Messi’s former club Barcelona and his current outfit Paris Saint-Germain. The company now believes the recent acquisition will attract worldwide opportunities for fan participation in their beloved games and encourage greater engagement in digital asset experiences on their platform.
In that context, Rabinovitch expressed his enthusiasm for the recent Messi signing, describing him as “GOAT” Greatest-of-all-time.
GOAT is a renowned cultural accolade often attributed to most esteemed sports players such as football legends Pele and Diego Maradona and recent ones Christiano Ronaldo and Leo Messi.
