Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Socios and Chiliz CEO Alexandre Dreyfus has taken to Twitter to share his excitement over the imminent launch of Chiliz 2.0.
"The launch of Chiliz Chain 2.0 - a curated blockchain for the sports and entertainment industry is coming," he wrote.
The launch of @chiliz chain 2.0 - a curated blockchain for the sports & entertainment industry is coming. Staking, DEX, Whitelisting, new NFT standard, Memorabilia certification, Fan Tokens, and much more ... with the help of 150 sports teams + 2M user base. Stay tuned. $CHZ https://t.co/mqK245SoxA
— Alexandre Dreyfus (@alex_dreyfus) January 26, 2023
Dreyfus highlighted the several features the new chain would present: "staking, DEX, whitelisting, new NFT standard, memorabilia certification, fan tokens, and much more ... with the help of 150 sports teams and a 2+ million user base."
On Jan. 25 of this year, Chiliz announced the launch of the Spicy Testnet, a new testnet meant to improve the overall security and performance of the blockchain. It highlights the possibility of a hard fork in achieving this stated aim.
We are happy to launch Spicy Testnet! 🌶️
— Chiliz ($CHZ) - Powering Socios.com ⚡ (@Chiliz) January 25, 2023
𝐖𝐡𝐲 𝐒𝐩𝐢𝐜𝐲 𝐓𝐞𝐬𝐭𝐧𝐞𝐭? 🧐
We are introducing the new testnet to improve the overall security and performance of our blockchain, which cannot be done without a hard fork.
🧵 ⚡️ $CHZ
According to it, the Spicy Testnet would be the last major upgrade before the launch of the Chiliz Chain 2.0 mainnet. In the long run, Spicy Testnet will eventually replace Scoville Testnet, which was introduced in March 2022 when the initial announcement of the Chiliz chain 2.0 was made.
Additionally, it states that the Scoville and Spicy testnets will run in parallel for the time being. However, the Spicy Testnet is recommended for developers to use because it will be updated to directly reflect the new Chiliz Chain 2.0 blockchain.
More on Chiliz Chain 2.0
As stated in a blog post, Chiliz Chain 2.0 would allow sports and entertainment brands to mint NFTs and fan tokens, build DeFi products and Play2Earn games and create events, loyalty and merchandising programs.
The CHZ token will fuel the new blockchain, representing a significant shift in the CHZ utility from the in-app currency of Chiliz's Socios platform to the network enabler of Chiliz's new ecosystem.
Tomiwabold OlajideDeveloped in collaboration with Ankr, Chiliz Chain 2.0 is EVM compatible and adopts a PoSA (proof-of-stake authority) model.
Valeria Blokhina
Dan Burgin
U.Today Editorial Team
Vladislav Sopov