0

    This blockchain platform aims to optimize sports industry challenges

    2024.05.15 | exchangesranking | 47onlookers
    55966e89>

    Presented by Atleta Network

    Atleta Network, developed by Blockchain Sports, introduces a modular, layer 1 blockchain designed to unify various sports-related blockchain functionalities.

    The sports industry is a behemoth, boasting staggering revenues projected to reach $680 billion by 2028. The thriving sector has become a hub for technological innovation, with blockchain emerging as a prominent player.

    Major sports entities, from football clubs like FC Barcelona and Manchester City to leagues like the NBA, are exploring blockchain’s potential for fan engagement and monetization. According to Mordor Intelligence, blockchain in sports will grow at a 9% compound annual growth rate (CAGR) by 2028. Despite the growing interest, no blockchain has fully addressed the needs of the sports industry.

    Developing youth talent with blockchain technology

    Enter Atleta Network, a tailored blockchain solution for sports and the flagship product of the Blockchain Sports ecosystem. Blockchain Sports, an international sports project, envisions revolutionizing world football through a fusion of cutting-edge technologies, including Internet of Things, artificial intelligence (AI), virtual reality (VR) and blockchain.

    Located across Brazil, Blockchain Sports already has three football academies in Rio de Janeiro, Sobral and Acopiara, nurturing the talents of over 200 young athletes from economically disadvantaged backgrounds. Guided by seasoned coaches and empowered by state-of-the-art technologies, these aspiring footballers are training to become the world’s best.

    Headquartered in Dubai, Blockchain Sports boasts a team of more than 1,000 IT specialists dedicated to advancing the Atleta Network. With official representation in Brazil, Germany and Cyprus, the project is committed to delivering innovative solutions tailored to the needs of the sports industry.

    AI and blockchain to enhance the sports ecosystem

    Atleta Network is a modular, layer 1 blockchain with native cross-chain interoperability. The platform’s infrastructure integrates smart contract functionality, distributed data storage, financial transactions and a decentralized app (DApp) deployment ecosystem. Atleta Network’s versatility eliminates the need for separate blockchain solutions, streamlining operations for sports organizations.

    The platform provides a suite of products, each designed to enhance the functionality and user experience within the sports sector:

    Native wallet: A secure platform for storing and managing digital assets within the Atleta ecosystem.Decentralized exchange: Allows users to swap tokens and provide liquidity without limitations.Explorer: Provides detailed insights into transactions and network activities, ensuring transparency.Name service: Offers user-friendly, human-readable domains for easier navigation and secure identity management.NFT marketplace: A multichain platform for trading football-related nonfungible tokens (NFTs), which broadens fan engagement.Bridge: Enables seamless fund transfers across different blockchain platforms and improves interoperability.Lending protocol: A system that supports lending, borrowing and on-chain portfolio management using Atleta Native Assets.

    The Atleta Network caters to both enterprises and individual users. Sports organizations can leverage Atleta’s capabilities to forge smart contracts, issue tokens and optimize financial processes with high transparency. Meanwhile, users can support their favorite players’ career trajectories through smart contracts, acquire digital collectibles featuring Blockchain Sports academies’ talents and earn rewards for their favorite athletes’ accomplishments.

    Central to Atleta’s architecture are four key features:

    Parachains empower sports organizations to create bespoke chains within the Atleta ecosystem, safeguarding sensitive data while leveraging the network’s features.XCM+ facilitates seamless communication between parachains, enhancing interoperability and scalability. The Atleta team is bolstering XCM’s interoperability through the integration of IBC or CCIP. Layer separation optimizes performance by compartmentalizing network functionalities into distinct layers.Nominated proof-of-stake (NPoS) introduces an innovative consensus mechanism bolstered by nominators, improving security and user engagement.

    Atleta Network is built on Polkadot software development kit (SDK) Substrate, a blockchain framework that enables developers to rapidly create blockchains that are optimized for specific use cases.

    The platform is set to incorporate advanced data and computation layers, integrating fully homomorphic encryption (FHE) to ensure data security and facilitate seamless sharing within the sports ecosystem. FHE is a cryptographic technique that allows computations on encrypted data without decrypting it first. Enabling data to remain encrypted throughout processing, FHE maintains data confidentiality while enabling practical operations to be conducted.

    Central to the FHE integration is the adoption of distributed data storage, employing a decentralized architecture to securely store sports-related data across multiple nodes. Using FHE, Atleta Network employs privacy-preserving analytics capability, enabling sports organizations to conduct advanced analytics while adhering to stringent data privacy regulations.

    Moreover, the Atleta Network leverages FHE to analyze athlete performance metrics, including biometric and training data, without compromising sensitive personal information. Atleta Network’s approach provides valuable insights while safeguarding the privacy of athletes and organizations.

    Tailored solutions like Atleta Network enhance operational efficiency and security. Integrating specialized functions into a cohesive platform allows organizations to fully utilize blockchain technology, simplifying complex processes and improving scalability.

    The blockchain home of sports

    The Atleta Network testnet is set to launch at the end of May 2024, offering users a glimpse into the network’s capabilities, including cross-chain bridge, native wallet, decentralized exchange (DEX), blockchain explorer and staking mechanisms. With 100,000 whitelist spots already distributed, the project offers individuals an opportunity to join the whitelist.

    According to Atleta’s roadmap, all the core features will transition to the mainnet by the end of the third quarter of 2024, augmented by an AI machine learning system for continuous refinement. The utility token ATLA will be central to the platform’s ecosystem.

    Sports organizations will require the ATLA token to access the platform’s functionalities. Users will be able to seamlessly exchange the token for crypto on the network’s DEX and transfer their tokens from and to other Ethereum Virtual Machine (EVM) compatible networks.

    With the ATLA token generation event slated for September 2024, Atleta Network aims to redefine the intersection of blockchain and sports, ushering in a new era of innovation and opportunity for sports organizations and enthusiasts. As the sector continues to evolve, blockchain integration promises to revolutionize sports management and engagement, paving the way for a more inclusive and transparent ecosystem.

    Learn more about Atleta Network

    Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you with all important information that we could obtain in this sponsored article, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice.

    The content on this website comes from the Internet. Due to the inconvenience of proofreading the authenticity and accuracy of the copyright or content of some content, it may be temporarily impossible to confirm the authenticity and accuracy of the copyright or content. For copyright issues or other ssues caused by this, please Call or email this site. It will be deleted or changed immediately after verification.