What is Chiliz coin? If you are one of those who love electronic sports or eSports, chiliz is a new wave that brings a lot of excitement in this entertainment field. In this article, we will learn together some basic information about chiliz!
1 – What is Chiliz coin?
Chiliz coin abbreviated as CHZ, is essentially a token built on Ethereum’s blockchain technology platform according to ERC-20 standards. The role of Chiliz token is a utility in the Chiliz platform itself, helping to create momentum for the development of the ecosystem.
2 – Some basic information about chiliz
2.1 – What is Project Chiliz?
This is a development project in the field of e-sports entertainment. The project development team applies blockchain technology to provide voting rights for fans, who can participate in the management of clubs, events, games, tournaments, etc.
In short, the Chiliz project makes it possible for users to both own cryptocurrency (Chiliz token) and have the right to vote for their favorite clubs or sports.
2.2 – What problems does Project Chiliz solve?
In the field of eSports, there are always difficulties in managing clubs and teams. So Chiliz wants to solve the following problems:
Overcome crowd management with a feature that allows fans to actively vote on decisions governing the teams they love.
Opinions and voting will be transparent and public.
Create a new wave to help develop the field of e-sports more.
2.3 – What is Chiliz project’s token used for?
Chiliz tokens in the chiliz ecosystem are used for the following purposes:
Used to pay for services, exercise voting rights.
Used to share profits for eSport teams, clubs, and tournaments when participating in the Chiliz ecosystem.
3 – What’s outstanding about ChiliZ (CHZ)?
ChiliZ is the first project to apply Blockchain technology to the sports entertainment industry, so there will be technological differences compared to other projects:
ChiliZ’s ecosystem is divided into four main components:
The Voice Mechanism.
The Main Ethereum Blockchain
The Permissioned Sidechains
The ERC-20 ChiliZ Token.