Chiliz wants to qualify for the Qatar 2022 World Cup with a new blockchain

The final stages of qualifying for the Qatar 2022 World Cup are underway and Chiliz, a company specializing in sports fan tokens, is preparing to live up to the competition. Hours ago the company announced the launch date of its ChilizChain 2.0 test network, an update of its current blockchain which operates under the proof of authority protocol. On March 31 the new network will see the light.

In this new blockchain focused on web 3.0 and entertainment, transfers of existing fan tokens (PSG, Barcelona FC, Juventus and the Argentine National Team, among others) and the next ones that are going to be launched can be made.

The announcement was made in Web page of Chilez. There a countdown is observed in which it is observed how much is left for the launch. The CEO and founder of the company, Alexandre Dreyfus, shared the news in his twitter account.

The new blockchain, named ChilizChain 2.0, will have the Chiliz token (CHZ) as its native cryptoactive, which is operational on the Chiliz blockchain (version 1.0) and on Ethereum.

Regarding the technical specifications of the network, Chiliz explains that it will be an “evolution” of the network BNB chain (former Binance Smart Chain)which is compatible with EVM (Ethereum Virtual Machine). Network fees will be paid in your native token CHZand transactions are estimated to be 500 times cheaper than in Ethereum.

The network will be focused on the world of entertainment and sports, thus allowing the evolution of Socios.com, in the words of its founder:

With the strong foundations provided by Ankr, Chiliz Chain 2.0 has the potential to become a game-changing blockchain that will have a profound impact, not only in the blockchain space, but across the blockchain landscape. mainstream sports and entertainment.
Alexandre Dreyfus, CEO of Chiliz and Socios.com.

Alexandre Dreyfus, CEO of Chiliz and Socios.com

Alexander Dreyfus, current CEO and founder of Chiliz and Socios.com. Source: Calvin Ayre / YouTube.

It is worth remembering, once again, that the launch is a test network. This is a preliminary release of a blockchain network, to assess stability, performance, and other parameters. These networks usually coexist with the definitive network once they are released, for continuous improvement testing.

Although this is the announcement of the launch of a test network, investors in digital assets took the news with great enthusiasm. The CHZ token had this March 25 a price increase of more than 10%positioning itself above USD 0.24 after having remained sideways for several days around USD 0.22.

Chiliz joins the web 3.0 train

With him metaverse, web 3.0 is one of the concepts that has generated the most interest in recent months. Its goal is to change the way users interact with different websites, trying to create a more decentralized Internet, where wallets could become the new protocol to login.

This interest has had repercussions within the world of entertainment, in which Chiliz and Socios.com (companies that work together) have always focused their operations. Currently Ethereum dApps (Decentralized Applications) work, in part, under this concept of web 3.0. Since the Chiliz blockchain will support EVM technologyvarious dApps can be built, including protocols DeFi (decentralized finance) in the ChilizChain 2.0.