What is Chiliz?
Chiliz is a blockchain empowering crypto exchange protocol for services and products related to sports and Fan Tokens. The network was launched in 2019, although the idea appeared in 2016. Chiliz.com has its native token Chiliz ($CHZ), which permits sports tokenization, that is swapping Fan tokens and vote in blockchain-based club surveys and elections. In October 2018, 8.8 billion Chiliz tokens were minted and distributed to early contributors. After this, the CHZ token was listed on several leading exchanges including Binance and BitMax. The token also empowers Socios.com. Chiliz and Socios.com claim to be the first networks to create a link between blockchains and the sports sector. The network was released in late December 2019. Of the many high-profile clubs to join the Chiliz program, the first was legendary Italian football team Juventus. $CHZ runs on Ethereum as ERC20 standard and on Binance Chain as BEP-2 standard. Chiliz exploits a proof-of-authority (PoA) consensus mechanism for safety matters. It is based on the reputation of settled validators for the formation of further blocks.