Reef is a Reliable Extensible Efficient Fast Layer-1 Blockchain for DeFi, NFT & Gaming. Built using Substrate Framework, it provides high scalability, enabling almost instant low-cost transactions, and supports Solidity and EVM, allowing developers to seamlessly migrate their DApps from Ethereum without any change in the codebase.
Reef Chain is the most advanced EVM-compatible blockchain. It's self-upgradable and has on-chain governance. Its infrastructure also allows for EVM extensions which allows for native token bridge, scheduled calls (ie. recurring payments), and smart contract in-place code upgrades. In the near future, it will support additional VMs which will allow developers to write code in multiple programming languages. The network runs on a Nominated Proof-of-Stake (NPoS) consensus mechanism, which offers scalability and low fees.
REEF is the native token that is used for:
Fees for processing transactions and storing data.
- Running validator nodes by staking REEF tokens.
- Nominating which validator nodes should be part of the network.
- Reef is backed by multiple leading funds and venture capitalists including NGC, QCP, Bitcoin.com, Kenetic Capital, LD Capital, TRG Capital, Krypital Group, Genesis Block, Woodstock Fund and others.
- Reef Chain development tools include:
- Remix and EVM integrated development environments for uploading and deploying smart contracts.
- Reefscan blockchain explorer to assist with deploying validators, bonding and nominating validators, debugging contracts, and understanding network performance.
- Reef command line tools that allow developers deploy applications from local environments.
- Reef wallet for accessing and interacting with the blockchain