Reef Chain REEF | Blockchain For DeFi, NFTs & Gaming

laatste update: 05-2022

Reef chain is a fast, scalable, EVM compatible blockchain for next-gen DeFi dApps. Has low transactions costs, and integrates aspects of various blockchains with full smart contract compatibility.

Reef Chain is powered by its native currency $REEF. Used for transaction fees, staking, and on-chain governance (Nominated Proof-of-Stake).

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A Substrate framework was implemented to build Reef chain. Features innovative blockchain technology that utilizes NPoS consensus, EVM extensions, on-chain upgradability, libp2p networking & advanced cryptography.

The Reef ecosystem consists of Reefscan (blockchain explorer), Reefswap (DEX for Reef chain tokens), & the Reef App (wallet/DEX/token creator) which can be accessed with the Reef browser extension.

The Reef browser extension allows users to interact with the Reef chain ecosystem. Users can create accounts (wallets), sign transactions, interact with EVM smart contracts, and more.

With liquidity bridges, users can deploy established ERC20 assets on Reef, and easily transfer liquidity between Reef chain and Ethereum.

Developers can create new DeFi apps, or port existing Solidity applications from Ethereum to Reef without needing to modify the code.

Tokens can ported onto the Reef chain, or created as REEF-20 assets. Users can trade any REEF-20 asset on decentralized exchanges (DEX’s).

For upgradability and long-term sustainability, Reef chain uses on-chain governance, and is governed by the Reef chain community.

REEF tokens can be staked for rewards and to participate in governance. Users that stake $REEF can become a nominator to help secure the Relay Chain by voting for good validators.

Validators are elected by the nominators via Nominated Proof-of-Stake (NPoS). Validator election are held at the end of every block production era. Transaction fees are burned to prevent artificial network constraints from validators.



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