MARCH 31ST: Malta based Chiliz has announced that ‘Scoville’, the public testnet for Chiliz Chain 2.0 (CC2) is now live. It is the first Layer-1 blockchain created especially for the sports and entertainment industries. Chiliz Chain 2.0 provides sports and entertainment brands with a platform to mint non-fungible tokens (NFTs) and Fan Tokens and also enables them to build DeFi products and Play-to-Earn games. In addition, it will help sports brands unlock the potential of Web3 by creating event, loyalty and merchandising programs.
CC2 will be powered by the $CHZ token, which marks a major advancement in the utility of $CHZ. Currently, it is the in-app currency of the Chiliz fan rewards and engagement platform, Socios.com, but now it will also be the network enabler of Chiliz’s new, open, multi-vertical ecosystem.
The launch of the CC2 testnet is the most significant expansion of the Chiliz ecosystem since the company pioneered the widespread use of blockchain technology by elite sports organizations with the launch of Socios.com in late 2019. Over 130 of the world’s leading sports organizations have embraced the Socios vision to enhance global fan engagement through Fan Tokens. Fan Tokens are digital assets, created by Chiliz, that allow owners to access voting rights, games, competitions and rewards from their favorite sports teams.
Ankr developed CC2
CC2 was developed in collaboration with Ankr, a leading provider of decentralized infrastructure. It is EVM compatible with gas fees up to 200x cheaper than ETH. CC2 also offers high TPS, enabling developers to interact with smart contracts with speed and efficiency. Built on the BNB Chain, the project development has come along quickly, as the partnership with Ankr was just announced on February 9th
Proof-of-Stake Authority model
CC2 utilizes a PoSA (Proof-of-Stake Authority) model. It is estimated to be up to 2000x more energy efficient than Proof-of-Work systems, incentivizing $CHZ holders to stake their tokens. Approved stakeholders, which can include existing Socios.com partners and other sports and entertainment brands, will also be able to become on-chain validators. This will enable them to benefit from the continued growth of the ecosystem and lead to increased decentralization.
CC2 is a secure network-effect driven community that is primed and ready for growth. It will continue to expand as Chiliz adds more partners to the Socios.com roster along with other enterprise and start-up level sports and entertainment brands building their Web3 products, services and experiences on the blockchain. Existing Socios partners include soccer giants Paris Saint-Germain, FC Barcelona, Juventus, AC Milan, Inter Milan, Napoli, Valencia, Atlético de Madrid, Manchester City and Arsenal. Also on the Socios roster are 50 teams from across the NBA, NHL and NFL, along with the UFC, F1 teams and leading esports teams.
Alexandre Dreyfus, CEO of Chiliz and Socios.com said: “Thanks to our existing network of 130+ partners and connections to the biggest exchanges in the world, CC2 is already a mainstream Layer-1 blockchain.
“It’s a secure, network effect driven development community where our existing partners and many more enterprise and start-up level brands from sports and entertainment can build a full suite of Web3 products and services.
“And, it’s all powered by $CHZ.
“In many ways this is the biggest step forward we’ve taken since we launched the Socios.com app in late 2019 and it’s a huge step forward for the $CHZ token as the network enabler of the new, mainstream, open, multi-vertical blockchain for sports and entertainment.”
Chiliz, the world’s leading blockchain provider for the sports and entertainment industries. The company employs nearly 250 staff and has regional offices in Madrid, London, Istanbul, Miami, Malta and Lyon. $CHZ is available on all of the world’s leading cryptocurrency exchanges. More details on the mainnet launch of CC2 will be announced shortly. Chiliz will also soon reveal the identity of the first new brands from sports and entertainment to join Chiliz existing 130+ roster of partners and start building on the new L1 blockchain. Chiliz is also developing an accelerator program — Chiliz Labs — to foster on-chain development on CC2 via exposure to $CHZ grants, technical and creative guidance and product support.