Chiliz (CHZ) Price

Socios from Chiliz, a FinTech provider found in Malta, is a sports engagement platform for fans built on a blockchain infrastructure that exclusively uses an online platform currency called chz coin. Alexandre Dreyfus was the co-founder of Chiliz. He has more than twenty years of experience in developing various web-based companies. Technology from Chiliz offers each sporting organization a limited supply of tokens to fans, which are initially provided through a Fan Token Offering (FTO). Such tokens are given depending on who comes when Chiliz announces the whole diluted cap in the market and opening prices. Clients can buy the fan tokens using chz, which is the primary internal currency of the platform.

Additionally, voting on the Socios platform can be done by the fans using fan tokens. Here, smart contracts make the process seamless. Since the launch of the chz coin in 2018, its circulation is now at 8.8 billion. Distribution gets done to the early contributors who lack public sales from various exchanges. At the beginning of the chz launch, Chiliz designed ERC-20 tokens. However, the company changed the token to BEP-2. The release of these fan tokens developed a strategic partnership with Binance Launchpool. Additionally, fans using the Tron blockchain can use chz in the form of TRC-20 tokens.Several blockchains consist of chz. Therefore, a control mechanism for its propriety crowd has been developed by Socios sidechain where the fans mint their fan tokens. Thus, the environment is well protected even during voting, which can be done only on audited polls displayed publicly.Private organizations prefer to use authority authentication, which closes blockchains and only allows users to participate within the related ecosystem.