Chiliz, the crypto startup behind fan token platform Socios, today launched its new layer-1 blockchain, shifting away from the current chain running on Ethereum.
The launch of Chiliz Chain 2.0 comes as the project marks its fifth anniversary, with a logo rebrand as another key aspect of the celebrations.
Chiliz Chain 2.0, which was launched on testnet in March last year, is a fork of the BNB Chain operating on a proof-of-stake authority (PoSA) consensus mechanism that supports shorter block time, lower fees, and less energy usage.
As an Ethereum Virtual Machine-compatible chain, Chiliz Chain 2.0 will still be compatible with Ethereum tooling though.
𝐇𝐚𝐩𝐩𝐲 𝐁𝐢𝐫𝐭𝐡𝐝𝐚𝐲 𝐭𝐨 𝐮𝐬 – celebrating our 5th anniversary with a new look! 🤩 #NewProfilePic
We are proud to share with the Chiliz community that the genesis block of our new EVM- compatible Layer 1 blockchain has been validated.#ChilizAnniversary ⚡️ $CHZ pic.twitter.com/yEVhSoU1BN
— Chiliz ($CHZ) – Powering Socios.com ⚡ (@Chiliz) February 8, 2023
The new chain saw its genesis block validated today and will feature a system of 11 active validators.
Web3-native experience for fan communities
With the launch of Chiliz Chain 2.0, the project will also allow sports and entertainment brands as well as developers to mint non-fungible tokens (NFTs), build decentralized finance (DeFi) applications, or play-to-earn games.
Another area where Chiliz sees the application of its technology is in-stadia engagement experiences, Web3-native ticketing and payments, as well as bringing the traditional fan experience of collecting memorabilia into the Web3 environment.
“It was really important for us how we go from just being a token to a blockchain ecosystem. The Chiliz chain technically existed since 2019, except that it wasn’t a cross-system. Now, as we are launching our ‘Fan Token Everywhere’ initiative, it’s
