JAKARTA - In a post blog, the company announced that it has validated the genesis block of its new blockchain layer-1 (L1). According to the announcement, blockchain compatible with Ethereum Virtual Machine (EVM) will focus on non-fungible tokens (NFT), Play2EARn (P2E) games, Watch2EARn (W2E) sporting events, and live event ticket payments.
Following the announcement, infrastructure provider Web3 Chiliz is experiencing an increase in the price of its CHZ tokens. On February 7 yesterday, the price of this token jumped more than 28 percent and at the same time, trading at US$0.1779 according to CoinMarketCap. However, not long after that the CHZ fell again. Coinecko data reports CHZ 9.4 percent in the last 24 hours.
For now, Chiliz will only allow verified third-party developers to start smart contracts. However, they also said they plan to put eight to ten startups into their blockchain. This will be done in stages over the next few months and includes businesses such as NFT ticket pilots to web infrastructure partners 3.0 and athletes-focused fan tokens.
The blog post also shows that this new blockchain has 11 active validators with Proof of Stake Authority (PoSA) consensus which are expected to process transactions faster at a lower cost and energy-efficient. Chiliz's current market capitalization is impressive, amounting to 1.13 billion US dollars.
Chilez CEO Alexandre Dreyfus also announced the launch of the Chiliz World Tour hackathon for 2023/2024. The program will be held around 18 cities around the world, including New York, Paris, and Seoul according to Coinpeaker reports.
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