Litecoin is one of the first open-source altcoins based on the original Bitcoin code. It was initially a strong competitor to the first cryptocurrency. However, as the cryptocurrency market expanded, Litecoin’s popularity gradually declined.
Chiliz platform and its features. CHZ Token
What is Chiliz (CHZ)?
Chiliz is an esports blockchain platform for interacting with fans, as well as rewarding them. Users of this platform can take an active part in the life of sports teams, for example, buy or sell players of football clubs, vote in some studies and surveys of the club. All actions take place through the service Socios.com .
Chiliz is perhaps the only platform of its kind that cooperates with big football clubs and esports players.
It is difficult not to agree with the fact that today there are practically no options for any kind of cooperation with clubs directly, that is, you cannot influence their lives in any way, etc., the maximum that you are allowed is to buy club merchandise, some accessories or ordinary match tickets.
But then Socios.com appeared – a service that makes it possible to convert the voting rights of fans into tokens by providing them with a Fan Token. Thus, it was possible to remove the gap that existed between active and passive fans.
To buy these branded fan tokens on the Socios platform, the Chiliz coin (CHZ) is used, which we will talk about in more detail later.
The history of Chiliz creation. Project Team
Chiliz cryptocurrency was developed in 2018 by Maltese Mediarex, which has been based in Malta for more than 12 years. They are members of the EU and are part of the Enterprise Ethereum Alliance (EEA). The Maltese Mediarex team is actively engaged in the construction of optimal technical infrastructure for projects related to cryptocurrencies.
The founders of the team, they are also the developers of Chiliz, are Alexander Dreyfus and Thibaut Pelletier. Dreyfus holds the position of executive director, since he actually founded Maltese Mediarex. Prior to this turning point, Alexander had been engaged in entrepreneurship in the digital world for 22 years, as well as in the space construction industry. Another developer Chiliz Pelletier has been creating applications for games and digital media for more than 13 years. Now he is the chief technologist at Maltese Mediarex.
In addition to these two geniuses, the company consists of more than 100 specialists in the field of blockchain: programmers, game industry specialists, marketers, etc.
The main investor of the Chiliz project is the Binance crypto exchange, which can also indicate the reliability and prospects of this project.
Well, even though the idea of creating CHZ appeared with Dreyfus and Pelletier back in 2016, the implementation itself took place 2 years later, in 2018. 8,800,000,000 Chiliz coins were issued, which were sold to investors during a private placement, as a result of which $66,000,000 was received.
Chiliz Token
The Chiliz platform has its own token called CHZ. The essence of the token is that the more CHZ a user has, the more important and significant his vote will be during the voting.
As described above, fans can exchange CHZ for special Fan Tokens that allow them to be used within the Socios.com system in order to take part in voting, polls, etc. Such processes take place inside blockchains using smart contracts.
Initially, 8,800,000,000 coins were issued and this number is unchanged, in fact, the question of the possibility of mining Chiliz immediately disappears.
All tokens were distributed among the platform participants in the following way:
- 34.5% – sent for sale and preliminary placement;
- 20% – reserve for users;
- 15% – marketing;
- 15% – strategic acquisitions;
- 7.5% – seed investors;
- 5% – team;
- 3% – advisory board.
At the time of writing, Chiliz is trading at $0.01002 and has a market cap of $603,388,990.
Key Features of Chiliz (CHZ)
- Chiliz is an internal token of the Socios.com platform, which is aimed at users who are sports fans. Thanks to Socios.com, sports teams and clubs can issue and sell their own personal Fan Tokens. In turn, fans can buy them and thus participate in the life of the club, by participating in some surveys and research projects, and in return receiving rewards for their work.
- Chiles makes fans active members of the team or club, and not just fans who can not influence anything.
- CHZ tokens are traded on the Chiliz Exchange platform in order to get or sell fan tokens.
- The CHZ exchange rate is extremely low, so the token is a very good investment option.
- Strong investors, in particular Binance, talk about the reliability and great prospects of the project.
- High transaction speed in 1 second.
- A good and competent development team with many years of experience in digital assets and blockchain.
- The company's office is located in Malta, which is as loyal to cryptocurrencies as possible.
- Chiliz cooperates with the world's leading football clubs such as Barcelona, Juventus, Roma and others.
- The work of the project is carried out on 2 blockchains – Ethereum and Socios.
What problems does the Chiliz project solve?
In a world where esports is actively developing, there are many difficulties in managing clubs, teams, athletes, etc. Therefore, in part, the developers of the Chiliz project were tasked with solving several issues:
- control over the fans;
- involvement of fans in voting for club leaders;
- make club elections as transparent as possible;
- centralize the operation of the existing eSports platform.
The Chiliz programming team took on these tasks and after a while they managed to come up with the most effective and correct solutions that will help the clubs solve the above issues. The developers used the Proof-of-Authority (PoA) consensus algorithm related to the field of sports.
What has been resolved?
- fans can actively take part in voting for decisions in the management of their favorite sports team;
- elections in teams/clubs are transparent and public;
- fan management becomes much easier;
- transactions within the system are more secure.
Also, all teams that have joined the work through the Chiliz platform can issue a certain number of Voices tokens. Fans can buy these tokens with CHZ. Once Voices is available to the user, it can be used to take part in voting on the management, election of the board of directors of the club of which he is a fan.
Where to buy and how to store Chiliz? Chiliz Wallet
You can purchase CHZ on leading cryptocurrency exchanges such as Binance, Coinbase, Crypto.com , OMGFIN, Zipmex, Uniswap, Huobi Global, KuCoin, WhiteBit, OKX, etc. In addition, the CHZ token is traded on many crypto exchanges, for example, Coin24.io.
Having bought a chiliz, many people begin to ask themselves the question – where can it be safely stored?! CHZ is compatible with ERC-20 and BEP-20 standards, so any crypto wallet that supports Ethereum can be used for its storage.
Hardware wallets are considered reliable enough, since there is no Internet connection required, which means hackers will not be able to take over your assets. Examples of such wallets can be Ledger, Trezor, KeepKey and Prokey.
It is worth paying attention to the wallet on the site chiliz.net , where people often buy CHZ tokens. It is ideal for sports enthusiasts, but not for crypto experts.
Which of the wallets to choose, here the decision is yours.
Perspectives of the Chiliz
The Chiliz project deserves a lot of attention, because initially a solution to a very important problem was proposed. In addition, the credibility of the platform is evidenced by partnerships with many well—known football clubs in the world, such as Roma, Juventus, PSG, as well as a deal with the largest investor – the Binance crypto exchange.
The forecast is very positive for Chiliz, because many people want to somehow influence their favorite team. According to experts, other well-known football clubs can join the platform in the shortest possible time, as a result of which the token may increase in price.
Objective reasons that can positively influence the future of CZH can be:
- a huge target audience that loves sports;
- fans want to support their favorite teams in every possible way, so they will happily invest in digital collectibles related to their team;
- involvement of many well-known sports clubs in the project;
- developing interest in NFTs;
- platform support by leading market players like Binance.
Well, whether all these factors can somehow affect the interest in the token and the subsequent growth of the CHZ rate, we will be able to observe in the near future. In the meantime, we can say that the uniqueness and prospects of the project are quite promising.
