The International Chess Federation (FIDE) has selected the AVAX blockchain as the technical foundation for its planned chess player on-chain applications.
FIDE is an international organization based in Switzerland that connects the various national chess federations and acts as the governing body of international chess competition.
The organization that oversees competitive international chess, FIDE, is using Avalanche to create Web3 products. Over 500 million people play chess worldwide, and FIDE tournaments like the World Chess Championship and Chess Olympiad draw hundreds of millions of viewers.
“We are excited to get into this project. Ava Labs is one of the leaders or rather driving forces behind on-chain technologies, while FIDE is constantly working on improving players’ engagement and experience. Chess is a unique sport, and this cooperation will allow us to unify our community and strengthen the ties between players, clubs, federations and FIDE,” noted by Emil Sutovsky, CEO of FIDE.
Emin Gün Sirer, CEO of Ava Labs also expressed in a statement: “The possibilities created by bringing chess on-chain are about as limitless as the game of chess itself. We are thrilled to welcome FIDE to the Avalanche community and ushering chess into a new era together. On Avalanche, players all over the world will experience chess like never before.”
The main uses of Avalanche’s technical solutions are expected to demonstrate individualized experiences through public services, compute official player ratings, share tournament data on-chain, and so on.
Avalanche (AVAX) and Core, a free self-custody wallet, would become featured sponsors at live chess competitions around the world, including the World Chess Championship and Chess Olympiad, courtesy to the partnership.
About Avalanche (AVAX)
Avalanche is a layer 1 blockchain platform that uses an innovative Proof of Stake (PoS) mechanism to address the blockchain trilemma of scalability, security, and decentralization.
Avalanche enables smart contracts to operate decentralized applications (dApps) on its network. The blockchain intends to increase interoperability by integrating a number of decentralized finance (DeFi) ecosystems, including well-established projects like Aave and Curve.
The platform’s native token, AVAX, is utilized to enable transactions throughout its ecosystem. AVAX is used to facilitate network transactions by charging fees, distributing system rewards, and taking part in governance.
The International Chess Federation (FIDE) is the entity in charge of overseeing all international chess tournaments. It was established as a non-governmental organization, and the International Olympic Committee recognized it as a Global Sporting Organization in 1999.
Although FIDE’s current headquarters are in Lausanne, the organization was first established in Paris in 1924 under the motto “Gens una Sumus” (Latin for “We are One Family”). It is currently one of the biggest, with National Chess Federations representing affiliate members from 199 different nations.
Chess is today a truly global sport, with tens of millions of players on every continent and an average of more than 60 million games played daily.
The foundation of today’s leading internet platforms is the accumulation of users and user data. Due to the strength of network effects, as these platforms have expanded, so too has their capacity to deliver value, allowing them to maintain an advantage.
Web3 has the potential for greater platform-wide value creation. Platforms may easily connect to larger content networks when they are built on an interoperable infrastructure layer, which increases the scope and variety of value they can offer their customers. Web3 is important because it makes it possible for people (or entities) to transact commerce and exchange value with one another directly via the internet without the use of a dependable middleman.
Rickie Sanchez is an article writer specializing in cryptocurrency news. Since late 2017, he has been actively investing in cryptocurrencies. He is enthusiastic about everything that has to do with crypto and he hopes that the readers of his articles in the years to come will gain a massive understanding of blockchain technology.