CHZUSD
Chiliz / United States dollar
crypto Composite

Chiliz (CHZ) is a digital currency for sports and entertainment, powering the world's first blockchain-based fan engagement & rewards platform Socios.com. Fans can purchase & trade branded Fan Tokens as well as having the ability to participate, influence, and vote in club-focused surveys & polls. Chiliz aims to foster a blockchain ecosystem built for sports and entertainment. Chiliz run its own permissioned instance of the Ethereum blockchain. This permissioned sidechain is the core of Socios.com. It hosts every team, league, game title or other organisation who connects with the platform, together with each organisation's crowd voting mechanisms run as a semi-autonomous organization on this blockchain. Both Vote Tokens and chiliZ tokens created in an Ethereum blockchain – in the main Ethereum network for the chiliZ token and in the chiliZ permissioned sidechain for the Vote Tokens. Ethereum supports the Proof-of-Authority consensus mechanism. Proof-of-Authority (POA) is a replacement for Proof-of-Work, which can be used for permissioned chain set ups. POA does not depend on nodes solving arbitrarily difficult mathematical problems, but instead uses a set of 'authorities' — nodes that are explicitly allowed to create new blocks and secure the blockchain. The chain had to be signed off by the majority of authorities, in which case it becomes a part of the permanent record.