The Chiliz [CHZ] network was in the midst of a major network upgrade at press time. According to an update by founder Alexandre Dreyfus on 26 January, Chiliz 2.0 would introduce various positive changes.

These changes included memorabilia certification, a new NFT standard, a new DEX and staking, among others. The network upgrade was in phase six at press time, which is the last stage dubbed Malagueta. Thus, the implementation of the aforementioned changes would soon be completed.

But what do these changes mean, and how will they affect investors and CHZ’s value? Well, the availability of a DEX and staking might be the biggest news of all. This is because such developments have the potential to encourage long-term hodling. Such an outcome might also prop up CHZ’s demand.

If this major Chiliz network upgrade is successful, then CHZ might benefit from more long-term demand. This move may strengthen its long-term outlook. The network itself will benefit from more utility, a move that might also support favorable investor sentiment.