Chiliz (CHZ) Empowers Smart Contracts With Upgrades – Positive Impact On Price?
15 Agosto 2023 - 2:00PM
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Chiliz, the pioneering sports blockchain platform, is set to make
waves once again as it teases forthcoming upgrades to its smart
contracts. In a recent tweet, Chiliz unveiled its plans to enhance
the functionality of its smart contracts, showcasing the company’s
ongoing commitment to providing a seamless and efficient experience
for its users. Chiliz has been a trailblazer in the sports
and entertainment industry, utilizing blockchain technology to
bridge the gap between sports fans and their favorite teams.
Related Reading: Dogecoin Vs. Bitcoin: Co-Founder Labels BTC
Maximalists As ‘Insecure Losers’ The platform’s innovative approach
allows fans to engage with their chosen teams through fan tokens,
gaining access to exclusive content, rewards, and even influencing
certain team decisions through token-based voting systems. 🗳️
Upcoming Proposals: Upgrading the Smart contracts Upgrade 1:
Upgrading the contracts to allow factory contracts to deploy
without being whitelisted as deployers. The factory contract will
still need to be deployed by a whitelisted
deployer.#ChilizGovernance ⚡ $CHZ pic.twitter.com/zyBTqzAhTJ —
Chiliz ($CHZ) – Powering Socios.com ⚡ (@Chiliz) August 14, 2023 As
the platform gears up for these improvements, the question on
everyone’s mind is whether these upgrades will play a role in
boosting the price of CHZ, Chiliz’s native cryptocurrency. Chiliz
Upgrades On The Horizon The first of the upcoming upgrades focuses
on streamlining the deployment of factory contracts. In a bid to
improve efficiency, Chiliz plans to enable such contracts to be
deployed without the need for whitelisting as deployers. This
move is expected to simplify the process while maintaining a level
of security by ensuring that the factory contract is still
initiated by a whitelisted deployer. By reducing friction in the
contract deployment process, Chiliz aims to enhance user experience
and attract a wider range of participants. The second upgrade
revolves around staking pool contract enhancements. Chiliz aims to
address issues related to the accuracy of voting power displayed
for validators and the calculation of delegated amounts.
Chiliz is currently trading at $0.0748. Chart by TradingView.com To
rectify this, the Chiliz team has indicated that a temporary
downtime for the delegated and undelegated features will be
necessary during the upgrade. While this may temporarily
inconvenience users, the improvements are anticipated to provide a
more accurate and transparent staking experience. Impact On CHZ
Price As Chiliz enthusiasts eagerly await these upgrades, the
impact on the price of CHZ remains a topic of interest. At the time
of writing, CHZ is in the red in all timeframes, and priced at
$0.074903 according to CoinGecko. The past 24 hours have seen a
decline of 1.2% in its value, while the past seven days have
witnessed a decline of 1.5%. These fluctuations underscore the
inherent volatility of the cryptocurrency market. CHZ price action
today. Source: Coingecko Related Reading: FDIC Warns Of Crypto’s
Legal And Fraud Risks For US Banks – Here’s Why While the direct
correlation between upgrades and price movements can be complex and
multifaceted, the anticipated improvements in Chiliz’s smart
contracts could bolster investor confidence in the platform’s
future prospects. (This site’s content should not be
construed as investment advice. Investing involves risk. When you
invest, your capital is subject to risk). Featured image from Dr
Trouble Hot Sauce
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