Chiliz Network Shares Crucial Updates for Users, Here Are Details

Nov 10,2022
Chiliz Network Shares Crucial Updates for Users, Here Are Details

According to the latest launch of the Chiliz network, CHZ token and fan token will be merged into a blockchain technology as part of the connection of Chiliz Chain 2.0 (the new upgraded version of the Chiliz chain).

This verifies why fans' tokens should be built on the blockchain technology Chiliz Chain adapted to EVM, and Chiliz tokens are all based on ERC-20 tokens on the Ethereum Internet.

Chiliz claims that it is still a chain adapted to EVM, because doing so will allow the use of the Ethereum ecosystem mainly through cross chain interoperability. After the system is reinstalled, the Chiliz 2.0 chain is expected to provide higher TPS and lower transaction costs than Ethereum.

A new Chiliz Chain will use the consensus of the PoSA to provide the most ideal scalability, management system, chips and speed, expand the application of CHZ and fan tokens, and provide more Web3 opportunities for the sports and entertainment industry.

However, the chain will experience six links in its network measurement link before it can run on the network. One of the first trading centers to provide Chiliz Chain 2.0 is undoubtedly Chiliz Exchange, or ChilizX.

ChilizX is called the new chapter of the Chiliz Exchange, which provides 59 fan token trading transactions, including tokens of professional teams in China. In addition, it is also the origin of the liquidity of the market.

To put it simply, this elite team service promises that ChilizX will see a large number of sports facing functions to meet the distinctive requirements of sports entertainment assets in the Web3 world as soon as possible.

Intelligence Price Behavior

Consistent with the collapse of the cryptocurrency market at this stage, Chiliz fell 20% to US $0.195 in the past 24 hours. Chiliz also erased the monthly increase, falling 14.25% last week.

At the beginning of November, with the popularity of fan tokens before the World Football World Cup scheduled to be held on November 21, Chiliz rose. However, because of the recent market sales, most of this profit seems to have been erased.