Startups

ChiliZ Will Make Every eSports Fan’s Dream Come True

The blockchain tech is has been making quite a few waves in the world of online gaming, there are Ether powered quest games like the EtherWarfare and EtherQuest and how can we ever forget the adorable Cryptokitties? Now however there is new platform in the blockchain town that is looking to revolutionize the eSports industry, ChiliZ wants to make every sports fan’s dream come true.

Founded way back in 2006 as a subsidiary of the Mediarex Group, which is a Malta-based organization for global sports and entertainment; ChiliZ is on a mission to create an eSports ecosystem that is controlled by the crowd and where fans have an a substantial influence on the management of their favorite teams. Football fans will be thrilled to discover that the core idea was inspired by arguably the two most valuable teams of the sports franchise, FC Barcelone and Real Madrid and both of these star-studded teams are owned and partly managed by groups consisting of club supporters called, ‘Socios’. These groups actively vote in order to elect the board and president of their teams.

Leveraging the blockchain tech, ChiliZ wants to take it up a notch by creating a unified, trustless and transparent global crowd-management environment.

Tokens Powering the ChiliZ Ecosystem

Two types of tokens will fuel the platfrom’s ecosystem.

The Voices- The Voice Tokens

Voices serve several purposes on the platform, they are necessary for all eSports teams on the ChiliZ platform to make their debut and they are necessary for fans to gain voting rights. These tokens can only be purchased through the other token that powers the ChiliZ platform, the ERC20 token.

The ERC20 ChiliZ Tokens

These tokens are a part of the main Ethereum chain of the platform. The ChiliZ tokens or the CHZ are connected to the transactions from fans funding and withdrawing. All the services and fees of the platform are only payable through these tokens.

The ChiliZ Ecosystem

Four major components make up the platform’s ecosystem;

  1. The Voice Mechanism
  2. The main Ethereum blockchain
  3. The permissioned sidechains
  4. The ChiliZ Token

The Voice Mechanism

It is preset that every eSport team that is operating on the ChiliZ platform will make their debut with a specified and fixed number of Voice tokens, Voices. The fans on the platform have the opportunity to gain voting rights for the team by trading in ChiliZ tokens for the Voices that, that particular team is associated with. The holders of Voice will also have the power to cast regular votes on management issues, matchmaking, team roster creation, etc. The Voice mechanism further consists of two components itself.

 The Voice Queue

Consider this as kind of a waiting room for all the new Voices, which were either created on the addition of new teams in the league or generated for the already existing teams. This waiting room is independent and democratic in nature and will allow the fans to tell the queue system itself when they wish for their ChiliZ tokens to be queued for the next available new Voice in either a specified team or a variety of teams or for any team in a specific game type or League.

The Voice Marketplace

This is the platform where the fans carry out the trading and acquisition of their Voices. The fans that hold one or more Voices for any eSports that is powered by ChiliZ, acquire access to the Voice Trading Floor, which allows fans to auction off their Voices under their control which means that they can ultimately exchange Voices for ChiliZ tokens for above prime rate, by influencing their position.

The Main Ethereum Blockchain

This is the core of the entire ChiliZ platform, so much so, that the platform itself is fueled by the ChiliZ ERC20 token (CHZ). Hence, everything happening on the platform, like the CHZ transactions, new addition of Voices that are converted from the CHZ will all be stored in a way that is auditable and permanent via thepublic ledger on the main Ethereum blockchain.

The Permissioned Sidechains

This is where the Voices are produced and further allocated to the fans via the Voice Queue or even acquired through trading in the Voice Marketplace.

ChiliZ’s Alliances

Eversince its establishment ChiliZ has formed partnerships with numerous institutes across the Southeast of Asia. It also formed a rather important alliance with Malta’s government that is pro-blockchain and is actively carrying out media promotions of the project.

The Team Behind ChiliZ

Source: https://www.chiliz.com/en/home/
Source: https://www.chiliz.com/en/home/
Source: https://www.chiliz.com/en/home/
Source: https://www.chiliz.com/en/home/

 

You can read the whitepaper here. 

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Abeer Anwaar

Abeer holds a Bachelors degree in Media studies and covers blockchain startups for BlockPublisher. An optimist, excels in the art of the written word and swears by the joy of all things sweet. Email: abeer@blockpublisher.com or contact the editor at editor.startups@blockpublisher.com

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