Altcoin CHZ Rises 15% After Project Announces Mainnet Launch

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Chiliz, the operator of the Socios platform, has released the Chiliz Chain 2.0 (CC2) mainnet.

The genesis block was mined yesterday in an EVM-compatible blockchain of the first level.

The launch of the CC2 testnet took place back in March last year. The network was built in cooperation with the infrastructure project Ankr.

According to the press release on the launch:

“With the help of the Chiliz blockchain, developers, sports and entertainment brands can issue NFTs and fan tokens, create DeFi products and P2E games, interact with users in stadiums, implement ticket sales and payments through Web3.”

CC2 is a system of 11 active validators using the Proof of Stake Authority consensus algorithm. The network uses the native token Chiliz (CHZ), significantly speeds up and reduces the cost of transactions, according to the statement.

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