What is Chiliz (CHZ) - Introduce for newbies
Let's now answer the question: What is Chiliz (CHZ) network? Following the approval of social tokens in the sports and entertainment industries, Chiliz is known as the first blockchain platform to be used for Esport. Today, the management of teams and clubs is inevitable with the development of sports in general and e-sports in particular. Fans have the ability to cast votes and take part in the administration of teams.
Teams and leagues also have the right to profit from voting of fan conclusions. Chiliz uses the Proof of Authority (PoA) mechanism for the Proof of Work mechanism. Chiliz provides users the ability to verify blockchain blocks using their reputation.
Chiliz has provided some excellent solutions, such as: Fans will be active in voting on the management decisions of their favorite team, Managing of crowds has just become much simpler, Creating a new wave in the current esports scene, Voting will be open and transparent, Transactions become safer and more efficient.
Chiliz is developing three main products including: Chiliz Exchange, Socios.com and Chiliz Chain 2.0. The chiliz token is the native cryptocurrency of the Chiliz network allowing users to buy Fan Tokens on Socios.com. This above information can help you better understand What is Chiliz (CHZ).
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