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OKX, a renowned web3 technology company, has become the new validator for Chiliz Chain, a pioneering layer 1 EVM-compatible blockchain dedicated to the sports and entertainment sector. Chiliz stated in a recent press release that the strategic partnership will strengthen the governance, security, and scalability of the Chiliz chain.
Chiliz Chain operates based on the Delegated Proof of Stake (DPoSA) consensus mechanism, and validators play a key role in creating and verifying blocks. According to Chiliz, to become a Chiliz Chain validator, an individual or entity must meet certain requirements, including staking at least 10 million CHZ, the blockchain’s native coin.
OKX, which has extensive experience in the cryptocurrency exchange industry, is expected to strengthen the capabilities of Chiliz Chain. Integration plays a pivotal role in the development and execution of smart contracts and ensures a robust transaction verification process, Chiliz said.
The partnership between OKX and Chiliz has achieved significant achievements, including enabling spot trading of CHZ tokens starting in March 2021 and supporting Chiliz (CHZ) 2.0 mainnet integration in October 2023. OKX has also listed various fan tokens that connect with the sports community. At a deeper level.
Founded in 2018, Chiliz has focused on developing unique solutions to one of the most critical problems facing sports teams and leagues. This is a sustainable and affordable way to scale your brand and maximize fan engagement globally.
Through the Chiliz Chain, Chiliz aims to enhance the fan experience by providing an innovative platform for sports brands, gaming companies and fans to engage through the SportFi ecosystem, leveraging blockchain technology for fan tokens, NFTs and decentralized applications. do.
Before OKX, Chiliz onboarded several high-profile validators such as PSG, EDF Group, K League, Infstones, Ankr, Paribu, Meria, and Luganodes.
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