Network Security and Proof-of-Authority

Modified on Sat, 18 Feb, 2023 at 8:35 PM

CHZ is available on a variety of blockchains, including Ethereum, Binance Smart Chain, and Tron Fan Tokens, all of which are based on the Socios sidechain with density control. As a result, users or fans are in a safe environment and can vote only in publicly audited polls.


The sidechain uses a proof-of-authority consensus mechanism. Proof-of-Authority is mostly used by private organizations that have closed blockchains where only users within their ecosystem can participate. It is less decentralized than other consensus mechanisms but is easily scalable and highly secured. The CHZ token has been audited by Certik, a leading security-focused ranking platform. The CHZ security scores about 95% on the Certik platform.


In addition, CHZ has announced a partnership with the decentralized Oracle network Chainlink, a service that delivers data in a world-class way. Chiliz aims to create one-of-a-kind non-fungible tokens (NFTs) aimed at commemorating special events such as player milestones or winning championships in real-time.


More recently, the 2022 Chiliz Chain 2.0 Testnet “Scoville” Layer 1 blockchain network adds the ability to develop Web 3.0 applications with decentralized finance, DeFi, and Play To Earn.


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