​Chiliz launches layer-1 blockchain to expand fan token ecosys | Crypto Bubble

​Chiliz launches layer-1 blockchain to expand fan token ecosystem.

Fan token platform Chiliz validates the genesis block of its new layer-1 EVM-compatible blockchain to mark its five-year anniversary.

Five years from its inception, fan token platform Chiliz has launched its own layer-1 Ethereum Virtual Machine (EVM) compatible blockchain ecosystem to support its growth.

Chiliz’s fan token ecosystem has long been powered by Ethereum-based ERC-20 tokens, but the validation of the Chiliz 2.0 blockchain genesis block sees the ecosystem shift to its own layer 1.

The new blockchain uses a system of 11 active validators with proof-of-stake authority consensus, which is touted to provide faster block times, lower fees and energy usage.

According to the project’s documentation, Chiliz Chain 2.0 is a hard fork of BNB Chain, a go-to Ethereum fork. This means that the new layer-1 is EVM compatible, which is aimed to attract decentralized application developers to build within the environment.

Chiliz has made waves in the sports and entertainment space through its fan token app, Socios. The platform works with some of the biggest teams and brands in the sporting world, with major football teams like Barcelona, PSG, Manchester City, Arsenal and Juventus making use of its fan token platform.