Chiliz launches layer-1 blockchain

Chiliz launches layer-1 blockchain - Check out the story here

Fan token platform Chiliz validates the genesis block of its new layer-1 EVM-compatible blockchain to mark its five-year anniversary.

[{"selector":"#anim-b7cf8728-fc40-4172-bbad-61f95f26bd97 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(28.90624987200394%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Arrow

[{"selector":"#anim-7f53cdf1-72c9-40ca-a571-8b1a78631a8f [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.285244247341844%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] Five years from its inception, fan token platform Chiliz has launched its own layer-1 Ethereum Virtual Machine (EVM) compatible blockchain ecosystem to support its growth. Arrow

[{"selector":"#anim-2434f806-c715-4788-b5da-1ff3ff309bb7 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-34.179687404002955%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] 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. Arrow

[{"selector":"#anim-ec0aa990-8baa-4960-ae62-183695024bd6 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-34.179687404002955%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] The new blockchain uses a system of 11 active validators with proof-of-stake authority consensus, which is touted to provide faster block times, lower fees and energy usage. Arrow

According to the project’s documentation, Chiliz Chain 2.0 is a hard fork of BNB Chain, a go-to Ethereum fork.

[{"selector":"#anim-06d61079-c349-4c0e-9098-2ecc82a1ad80 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-34.179687404002955%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Arrow

This means that the new layer-1 is EVM compatible, which is aimed to attract decentralized application developers to build within the environment.

[{"selector":"#anim-ef81f874-86cb-408a-9f83-6b35d7020fd8 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.249999886225726%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] Arrow

Chiliz has made waves in the sports and entertainment space through its fan token app, Socios.

[{"selector":"#anim-7754ad3d-6bd7-4750-aff4-3966a8ed9063 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.481445200130125%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Arrow

Hope you people found the story informative. For more such interesting stuff, click on the link given below

[{"selector":"#anim-d26fdb5d-1c21-4f2f-b427-18266ec1c4f3 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-33.30762976884122%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] Arrow SWIPE UP