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Fan Token Project Chiliz Rolls Out Layer 1 Blockchain, Token Surges 20%

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Fan Token Project Chiliz Rolls Out Layer 1 Blockchain, Token Surges 20%
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.Chiliz has rolled out its EVM-compatible layer-1 blockchain, prompting the CHZ token to surge by 20%. Reporting by oknightcrypto.

The Chiliz blockchain is EVM-compatible and will focus on non-fungible tokens , Play2Earn games, Watch2Earn sports events as well as live event ticketing payments.

The blockchain has a system of 11 active validators with PoSA consensus. The aim is to support faster transactions, lower fees and lower energy consumption.The project will announce up to 10 start-ups that will operate on the Chiliz chain, with businesses ranging from NFT ticketing, athlete-focused fan tokens and crypto infrastructure partners.

The Chiliz token , which currently has a market capitalization of $1.13 billion, is said to be the"fuel" for the newly-released blockchain. Token holders will receive rewards for staking on the network.

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