- French state-owned energy provider Exaion joins Chiliz as node validator.
- Exaion shares Chiliz’s vision of securing blockchain’s energy efficiency.
- The news arrived briefly after Paris Saint Germain launched their node.
The sports-focused blockchain Chiliz (CHZ) has scored a deal with a state-owned energy giant’s subsidiary to join the chain as a validator node. Exaion, the subsidiary of France’s EDF Group, aims to provide valuable insights to the Chiliz chain from infrastructure, technology, and energy departments.
With a mutual vision to bolster blockchain technology in a socially responsible way, Exaion and Chiliz shook hands during Chiliz’s crucial tokenomics model upgrade. Running on Delegated Proof of Staked Authority (DPoSA), Chiliz’s tokenomics revamp includes a brand new inflation staking rewards program and a transaction fee-burning protocol called EIP-1559.
Chiliz Validator Lineup: Built for Success?
The move is unprecedented in the cryptosphere, as Chiliz becomes the first blockchain to have a country as a node validator. According to Chiliz blockchain documentation, staking rewards are divided into two parts: 80% goes for the validators, which can keep up to 30% as fees, while the rest goes to crypto aficionados staking on the node, depending on how much Chiliz they have staked.
Sponsored
Chiliz’s co-founder Alexandre Dreyfus took to Twitter to congratulate Luganodes, a node validator leading the CHZ staking race with 234,384,873 Chiliz tokens staked. “The Chiliz staking war is starting soon,” declared Dreyfus, referring to the recently implemented Chiliz 2.0 tokenomics, exercising a new staking module with a minimum of 5.8% APR.
Earlier, Chiliz had partnered with the European soccer powerhouse Paris Saint-Germain (PSG). PSG was welcomed to the chain to operate a validator node. Intriguingly, PSG is a Qatari state-owned club, meaning France and Qatar have a dedicated validator node on the Chiliz sports chain.
At press time, the #93 spotted altcoin CHZ is trading at $0.133, plummeting to this price range after claiming a yearly high at $0.166 on March 14, 2024. Sporting a market capitalization of $1,185,346,939, CHZ is still 84.8% down from its all-time high, scored nearly three years ago at $0.876, according to crypto price aggregator CoinGecko.
On the Flipside
- As the cryptocurrency sector is often criticized for energy consumption, having a state-owned energy provider as a node validator can provide valuable expertise on maintaining a chain in the most efficient way possible.
Why This Matters
Chiliz chain gets recognition from state-owned enterprises, simultaneously tackling the underlying issues of cryptocurrency energy consumption.
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