Chiliz (CHZ) Chain Unveils Dragon8 Hard Fork with Enhanced Tokenomics - Blockchain.News

Chiliz (CHZ) Chain Unveils Dragon8 Hard Fork with Enhanced Tokenomics

James Ding Jun 17, 2024 15:29

Chiliz (CHZ) has launched the Dragon8 hard fork on its blockchain, introducing substantial technological improvements and a new tokenomics model.

Chiliz (CHZ) Chain Unveils Dragon8 Hard Fork with Enhanced Tokenomics

Chiliz (CHZ) Launches Dragon8 Hard Fork

Chiliz, a leading blockchain provider for the sports and entertainment industry, has announced the successful launch of its Dragon8 hard fork on the Chiliz Chain. This critical update introduces significant technological enhancements and a sophisticated new tokenomics model, according to Chiliz.

Introduction of Tokenomics 2.0

The Dragon8 hard fork marks the debut of Tokenomics 2.0, which features a structured annual inflation rate starting at 8.80% and gradually decreasing to stabilize at 1.88% over approximately 14 years. A key component of this new model is the transaction fee burning mechanism, designed to provide a balanced incentive structure that encourages both immediate participation and long-term commitment from network validators and users.

Technological Advancements for Developers

In addition to the new tokenomics model, the hard fork introduces significant developer-oriented advancements, including the latest version of Solidity. This update enables developers to utilize new opcodes and precompiles, enriching the toolset available for creating sophisticated smart contracts on the Chiliz Chain. Furthermore, the hard fork integrates support for type-2 transactions, aligning with EIP-1559 to streamline transaction fee management and improve economic efficiency for developers.

Impact on the SportFi Ecosystem

The Chiliz Chain, which hosts over 80 projects within its SportFi ecosystem, continues to attract developers and users with its commitment to innovation and community engagement. The Dragon8 hard fork is expected to enrich the developer experience and upgrade the economic framework of the Chiliz ecosystem, promoting a sustainable and decentralized network.

Statements from Leadership

“We‘re immensely proud to propose Dragon8, a testament to our pursuit of innovation and excellence,” said Alexandre Dreyfus, CEO of Chiliz and “The implementation of Tokenomics 2.0 is designed to bolster long-term value and sustainability for our network, ensuring the Chiliz Chain remains the leading blockchain for the sports and entertainment industry.”

Further Information

For more detailed information on the Chiliz Chain’s Dragon8 hard fork, please visit the Chiliz Chain Tokenomics page and Changelog.

Disclaimer: This article is for informational purposes only and is not intended as financial advice or an offer to buy or sell any assets. It is not intended for use by individuals in jurisdictions where such use would be contrary to local laws or regulations, especially the U.S.

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