LUCKNOW (CoinChapter.com) — In a recent tweet, Chiliz, the prominent sports blockchain platform, has given a sneak peek into the upcoming upgrades to its smart contracts. The company’s announcement highlighted two significant proposals to improve its smart contracts capabilities.
Chiliz’s initial upgrade proposal revolves around factory contract deployment. Unlike the existing protocol that demands whitelisting for deployers, the proposed upgrade will liberate factory contracts from this requirement.
However, Chiliz emphasized that a factory contract would still require a whitelisted deployer to initiate its deployment.
Chiliz is not stopping at just one enhancement. The platform is addressing the concerns surrounding staking pool contracts. The focus here is on rectifying the accuracy problems related to validators’ displayed voting power and the calculation of delegated amounts.
The Chiliz development team has acknowledged that implementing these upgrades will require a temporary downtime for the delegated and undelegated features. Users might encounter difficulties accessing these functionalities while the upgrade takes place.
While Chiliz has offered a glimpse into its forward-looking plans, comprehensive details about these proposed updates are currently under wraps. However, the Chiliz team is anticipated to gradually release more information about the proposals as they progress through the development stages.
Chiliz Chain Celebrates Milestones
In May, the Chiliz chain made history as the first-of-its-kind blockchain infrastructure dedicated to sports and entertainment, successfully launching its mainnet.
Since this momentous launch, the Chiliz chain has experienced exponential growth, achieving remarkable milestones. Notably, the platform has managed to process an astounding 1.6 billion transactions.
Additionally, it has established over 200,000 wallet addresses and produced an impressive five million-plus blocks. These accomplishments were proudly revealed in a tweet posted on August 8th.
Chiliz (CHZ) Token Price Movement and Future Prospects
When writing, the Chiliz (CHZ) token price experienced a minor decrease of 1.09% compared to the previous day, resulting in a value of $0.078. Despite the outstanding achievements registered throughout 2023, there is a notable observation of CHZ’s price decline.
Chiliz’s price performance has predominantly remained within a range-bound pattern since June. This period of relative price stability indicates that the token’s value has struggled to make substantial upward movements.
The daily Relative Strength Index (RSI) is slightly below the neutral mark of 50. This suggests the possibility of the sideways trend persisting until a significant market shift occurs.
