This is Season 5 Week 5 of Steemit Crypto Academy and I'm writing homework task about "Chiliz" which is Related About Sports and gaming in Crypto assigned by Professor @imagen.

The term was first coined in 2017 by one of the founders of Ethereum, Mr. Gavin wood. Proof of Authority (PoW) is a reputation-based consensus method, that provides the power of validating transactions to the small and authorized blockchain actors in order to update its registry.

To run this consensus, the most important things are the reputation and original identity of the validator. In this protocol, the validators are the trusted parties, and the reputation and identity both serve as a guarantee to secure the transactions with the validation nodes.

Differentiating PoA from PoW and PoS

The major aspect that differentiates proof of Authority (PoW) from Proof of Stake (PoS) and Proof of Work (PoW) is energy savings. The amount of energy used in PoA is much lower than PoW and PoS. Also, the difference between PoA and PoW is that the PoW only involves miners in the validation of the blocks.

PoA and PoS also possess some similarities, schematically. It is that, in the consensus mechanism, both involve the participation of validators. However, there still lies a difference, that is the number of validators. The PoA takes advantage in this regard, by limiting the number of validators in order to achieve high scalability and speed in terms of access control of the blockchain network.

How PoA works

As explained above, the protocol depends upon validators, reputation, and original identity. This makes the protocol efficient in energy consumption and utilizing resources. The protocol is strict in choosing the validators as their identity is the guarantee for the entire working of this consensus. Only those validators who are committed to running the system for a long time period and who are really worthy of it, are chosen. Also, the validators must be willing to invest their money in order to build a strong network.

Crypto Assets using the Proof-of-Authority (PoA) Protocol

The most famous crypto asset that uses the Proof of Authority protocol is the Polkadot. The Polkadot crypto asset is ranked 9th by the Coinmarketcap website and the best crypto asset today. The website uses the PoA protocol for each transaction in the blockchain, also making it one of the most secure assets.

Currently, on visiting the official page of Socios.com we will see Laliga as the official Global partner. Also, the platform has partners affiliated with a wide range of fields such as Football, tennis, motorsport, fighting, gaming, American football, cricket, and Basketball. Below is the explanation.

Football

Socios.com partners with several football clubs including: Barcelona, Juventus, AS Roma, PSG, AC Milan, Atletico Madrid, Trabzonspor, Independiente, Galatasaray, Gazisehir Gaziantep, Istanbul basaksehir, Manchester city, Novara Calcio, Sint-Truidense VV, Apollon limassol, Goztepe, Alanyaspor, Levante, Argentina national team, Clube Atlético Mineiro, Valencia, portugal national team, fortuna sittard, arsenal, inter milan, GNK Dinamo Zagreb, everton, Club Universidad de Chile young boys, Leeds villa, Santos laguna, Pohang united, Legia warsawa, Flamengo, Samsunspor, Sao paolo, Racing Club de Avellaneda, Bologna, Napoli, New england, Atlas, as monaco, Italy national team, Palmeiras and Crystal palace.

Gaming

Socios.com also partners with a few gaming and esports platforms. These partners include Team OG, Natus Vincere (NAVI), and 4 other e-sport platforms.

Fighting

The partners in the fighting field include the world-famous UFC and Professional Fighters league Championship.

Motorsport

The motorsport partners of Socios.com are Aston Martin Cognizant F1 Team, the Roush Fenway Racing team, and Alfa Romeo Racing.

Cricket

Cricket teams that partnered with Socios.com are Kolkata knight riders, Punjab kings, Caribbean Premier League championships and, Royal Challengers Bangalore.

Basketball

The platform also partnered with a number of basketball clubs like Philadelphia 76ers, Boston Celtics, Miami Heat, San Antonio Spurs, Chicago Bulls, Minnesota Timberwolves, Milwaukee Bucks, Indiana Pacers, and a lot more.

Tennis

The Davis Cup tennis tournament is the partner of Socios.com in Tennis.

American Football

New England Patriot club is partnered with Socios.com.

1. Firstly it is important to install the Socios.com application on your mobile phone to use it. Here I am installing it on my Android mobile phone.

2. Go to the Playstore app and search socios.com.

3. Install the app by clicking on the Install button.

4. Open the app and click get started to register your Socios account.

(Firstly even after opening the interface read that the app does not work in this area then I use the VPN).

1. After that, enter your mobile number and request the verification code. Enter the code that you will receive via SMS to register your new account.
   (Even after using A VPN, I did not receive a code).

However, in general cases the procedure goes as follows

1. Then you need to enter your Username and an active e-mail of yours. On agreeing to the terms and conditions, click register now.

2. You will be required to confirm the email by clicking the link received in the email inbox.

3. The account will get verified.

4. To proceed further, open the app again. A description feature will show a brief description of the app. After a few clicks on the Next button, click Finish to close the description.

5. In the next step, you will be given options to choose a favorite team of yours, you can also skip this by clicking the arrow-down.

6. On the top left corner click the profile button to make sure that the account is successfully verified.

7. We can check account verification, also the Username and level.

8. An SSU token is also provided by Socio. You can check this by clicking the wallet button at the bottom.

Explore the application and describe its function

Since I was not able to log in, I could not explore the features.

1. To make a purchase for CHZ token I went to my Binance exchange account.
2. I clicked on wallet and select spot market .
3. In the search bar I then searched CHZ and selected CHZ/USDT pair and made a purchase as shown.

The ATH

As indicated in the chart above the ATH of CHZ is 0.77$ and it was reached around 16th April 2021.

First, we need to login to the website Chiliz.net

At the moment, we can check the prices of fan tokens of FC Barcelona, Paris Saint-Germain, and Juventus. As these are directly displayed on the home page. We are not required to enter the exchange menu.

The token for FC Barcelona is currently priced as 30.02 CHZ or an amount equal to $7.94. It can also be seen that BAR token growth rate is +0.97%.

The token for Juventus JUV is currently priced as 30.97 CHZ or an amount equal to $8.19. It can also be seen that JUV token growth rate is +2.75%.

The token for Paris Saint-Germain PSG is currently priced as 51.28 CHZ or an amount equal to $13.56. It can also be seen that PSG token growth rate is +0.38%.

We can have a detailed look at these stats from the exchange menu. Also, we can see the traded fan tokens.

I collected a small amount of data of a club that competed in the week of December 12 Aston Villa.

Then I collected the information for the current price development of the fan tokens of these teams.

From the data I collected, it can be concluded that the winning doesn’t have any influence on the price increment of the token. The evidence of this is the AVL token, which reaches its peak price +6.59% while the team lost the match.

Also, the PSG faces a slight increment of +1.87% in the price of tokens even the team won the match. The remaining two teams, Juventus and Barcelona, who only won a draw get an increase of +1.59% and +3.13%respectively.

Through the data stated above, it can be concluded that any change in the price of the token is influenced by the attractiveness and interest in the match, not on the winning and losing of the team.

Power of Authority is a very effective and strong protocol for any blockchain network. Even the highly ranked blockchain network uses this consensus mechanism protocol. Socios.com also uses this protocol and is a great platform that has partnered with the most famous teams and clubs from all over the world. A user-friendly interface that provides its user, great features as easy trading and influential voting.

Note :

All the Screenshots have been taken from the Chiliz.net And . Socios.com and Other Screenshots have taken from my Mobile Application.

CC:
@imagen