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What is Chiliz Token?

Chiliz (CHZ) is a cryptocurrency in the world of sports and entertainment operating systems.

What is Chiliz (CHZ) Token? iBase Trading.
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Chiliz (CHZ) is a cryptocurrency in the world of sports and entertainment operating systems. It is a utility token on the Ethereum blockchain that is the Socios.com platform’s official cryptocurrency.

The designers of Chiliz intended to draw the parties closer together.  For the reason that, the current passive interaction between teams and their fan bases in the sports world. Chiliz was established in 2012 in Malta.


What is Chilliz’s Goal?

Chiliz’s purpose is to provide millions of sports and eSports fans with a coin that they can use to purchase actual voting rights for their beloved football clubs. As a result, fans stop being passive spectators and become influential members of the club.

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Every club’s CHZ fan tokens are a limited digital asset that grants voting rights. The survey themes are chosen by the clubs directly, but the options are unlimited! You may make decisions on everything from club design to who receives the “best player of the game” award. You can also decide the venues of summer friendlies and much more.

The higher a fan’s position on the platform, the more rewards he or she will be able to obtain as a fan. May it be to special goods, prediction games, and other benefits.

The Socios.com platform

The Socios.com fan interaction platform is designed on the Chiliz blockchain technology from the bottom up and employs $CHZ as its sole on-platform currency. Fans can acquire customized Fan Tokens from several of the most popular sports teams on Socios.com.

Fans who purchase Fan Tokens on Socios.com can vote for their teams. They can also become candidates for engagement-based team prizes and acknowledgment. The Chiliz blockchain creates all Fan Tokens, and does all on-platform voting through a sequence of smart contracts that run on the Chiliz blockchain.

Socios.com is the world’s first fan engagement and benefits network that uses blockchain technology to help sports organizations accomplish digital transformation. Chiliz ($CHZ), an ERC20 utility token on the Ethereum blockchain and a BEP-2 token on the Binance Chain, powers Socios.com. Fan Tokens are a finite, digital commodity that grants access to an encrypted, unchangeable ledger of voting and membership rights possession. They are unique to a team or a club. Fan Tokens, which function on a different permission side chain, are used in the tokenized fan-voting platform. The Fan Tokens have a limited supply and are fungible, which means they can trade and the market determines their value.

Cryptos (BTC,ETH, USDT) trades CHZ

Several crypto exchanges featured CHZ. However, unlike other prominent digital currencies, one cannot purchase directly with fiat currency. You can still acquire this coin by first purchasing Bitcoin, Ethereum, or USDT on any significant exchange. Secondly, transferring it to an exchange that trades this coin.

Binance, Huobi Global, OKEx, HBTC, and FTX are the main cryptocurrency exchanges in Chiliz right now.

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Tanya Smith is an editor at iBaseTrading. With M.A. in Journalism and Mass Communication, she is pursuing her dream of creating a positive difference in the media industry. She also enjoys Fashion and Travelling.