### What is Chiliz?

Chiliz (CHZ) is a blockchain technology provider focused on the sports and entertainment industry. It aims to create a new ecosystem for fan engagement by enabling fans to interact with their favourite teams and celebrities through tokenized fan experiences. This is primarily achieved through the Socios.com platform, which allows fans to acquire fan tokens granting them voting rights and other exclusive membership benefits. 

### How does Chiliz work?

Chiliz operates on a custom version of the Ethereum blockchain, employing a Proof of Staked Authority (PoSA) consensus mechanism. This combines elements of both Proof of Stake (PoS) and Proof of Authority (PoA), ensuring decentralization and community involvement. The network hosts fan tokens, which are traded on Socios.com, providing voting rights and exclusive rewards for fans. The native token, CHZ, is used as gas for smart contracts and for staking on the network.

### What are the potential use cases for Chiliz?

Chiliz is used for creating official fan tokens for sports teams and organisations, enabling fans to vote on team decisions and participate in exclusive events. It also supports digital collectibles and blockchain-based ecosystems in sports, facilitating secure and verifiable ownership. Further uses include strategic partnerships with sports leagues and development of blockchain-based sports projects, including NFTs and ticketing systems.

### What is the history of Chiliz?

Chiliz was founded in 2012 by Alexandre Dreyfus and is a part of the Mediarex Group. It initiated its blockchain endeavors in 2018 with the launch of the Socios platform and the CHZ token. Its first major partnership was with Juventus in 2019, followed by collaborations with renowned sports teams like FC Barcelona and Manchester City. The platform operates on a version of the Ethereum blockchain, using a Proof of Authority consensus protocol. In October 2024, Chiliz implemented a major upgrade called the Dragon 8 hard fork to optimize its blockchain performance.

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