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Chiliz Launches Layer-1 Blockchain To Expand Fan Token Ecosystem

Five years on from its inception, fan token platform Chiliz has launched its own layer-1 Ethereum Virtual Machine (EVM) compatible blockchain ecosystem to support its growth.

Chiliz’s fan token ecosystem has long been powered by Ethereum-based ERC-20 tokens, but the validation of the Chiliz ‘2.0’ Blockchain genesis block sees the ecosystem shift to its own layer 1. 

The new blockchain uses a system of 11 active validators with Proof of Stake Authority (PoSA) consensus, which is touted to provide faster block times, lower fees and energy usage. 

According to the project’s documentation, Chiliz Chain 2.0 is a hard fork of BSC which itself is a go-Ethereum fork. This means that the new layer-1 is EVM compatible, which is aimed to attract DApp developers to build within the environment.

(By GARETH JENKINSON)

Chiliz Chiliz $0.09
-5.28%
Chiliz Layer 1
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