Five years after their launch, Chiliz launches their own layer-1 Ethereum Virtual Machine.
Five years from its inception, fan token platform Chiliz has launched its own layer-1 Ethereum Virtual Machine compatible blockchain ecosystem to support its growth.
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.to the project’s documentation, Chiliz Chain 2.0 is a hard fork of BNB Chain, a go-to Ethereum fork. This means that the new layer-1 is EVM compatible, which is aimed to attract decentralized application developers to build within the environment.
Cointelegraph spoke to Socios CEO Alexandre Dreyfus back in November 2022 at Web Summit in Lisbon about the upcoming launch of the Chiliz ‘2.0’ Blockchain. As he explained back then, the Chiliz chain already existed but was deliberately kept as a private ecosystem to protect intellectual property. At the time of that conversation, it had over 1.7 million wallets that participated in the issuance, minting and trading of fan tokens.
“We use the technology as a foundation, but we adjust it and enhance it for our needs, which is the protection of the IP and the sports property we are working with.”
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