Chiliz Chain 2.0 – The way to bring Chiliz (CHZ) to mass adoption

September 26, 2022 - Around 4 mins mins to read

Despite the market being in a downturn, some niches in the crypto industry have received significant impetus for strong growth in recent times.

On March 31, 2022, Chiliz (CHZ) announced that ‘Scoville’ – the public test network for Chiliz Chain 2.0 (CC2), the first special Layer 1 blockchain created for the sports and entertainment industries, is now active. CC2 enables sports and entertainment brands to mint NFTs and Fan Tokens, build DeFi products and Play2Earn games, and create events, loyalty, and sales programs that unlock their potential and the great power of Web3.

Future vision

CC2 is the platform for developing the protocols of the web3 ecosystem, where stakeholders from the sports and entertainment industries can build web3 experiences in a safe, protected community. Reach global brands, leverage existing Fan Token audiences, and create something unique.

A governance structure that allows access to powerful development management, while giving whitelisted developers the freedom to create both centralized and decentralized platforms/products.
Ultimate scalability to enable user-centric platforms to explode at scale. This development is supported by leading blockchain infrastructure provider ANKR.
Gain exposure to the benefits of building adoption within a framework already used by the global sports and entertainment community at the institutional and fan levels, as well as direct integration with asset exchanges globally digital.

Reasons for developing CC2

Socios.com was never seen as the sole product at the top of the Chiliz blockchain, and the $CHZ token was never seen as merely a medium of exchange. The value of both is much deeper.

Chiliz needs Chiliz Chain V1’s closed ecosystem as an advantage for testing and now the focus becomes threefold:

The first

Creating an open ecosystem will allow 3rd party (censored) developers to build side-by-side with Socios.com. Create external uses for existing fan tokens and design new experiences across new verticals that go beyond fan tokens and focus on other digital asset classes.

The second

The $CHZ Token Swap is not simply an ultimate in-app currency and comes to its rightful place as the network provider of the open, multi-vertical, open Chiliz Chain v2 ecosystem. lock more utilities.

The third

Adopt a PoSA (Proof of Stake Authority) model where all approved stakeholders, whether it’s Socios.com partners or others, will become node operators and benefit from continued network adoption.

How will Scoville develop?

Chiliz (CHZ) is on the way to CHILIZ CHAIN 2.0 with 8 phases as follows:

Phase 1 (Anaheim 31/3/2022): Faucet for CHZ, Blockexplorer, NFT smart contract, Fan Token Smart Contract, Community developer access, Fan Token Faucet.
Phase 2 (Jalapeno May 17, 2022): DEX, Survey Smart Contract.
Phase 3 (Serrano): Documentation on building a local node, Github repo release, Governance/voting UI.
Phase 4 (Cayenne): Staking CHZ, Delegators, Final audits.
Phase 5 (Pequin): CHZ cross-chain bridge.
Phase 6 (Malagueta): Fan Token cross-chain bridge.
Phase 7 (Habanero)
Phase 8 (TBA)

Let’s build CC2 together

Chiliz (CHZ) calls on third parties to jointly build and develop Dapps on CC2 with the following segments:

DeFi products
NFT
Metaverse
P&E game
Event ticket sales
Loyalty Programs
Business Certificate

Chiliz is at the forefront of the Fan Token segment and moreover, the launch of Scoville is an ambitious step for the project team. Third parties will join Chiliz to build and expand this ecosystem further. Thereby contributing to promoting mass adoption more. Overall, Chiliz has shown considerable strength throughout the year, driven by the fundamentals and the vivid brand story surrounding the project.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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