Reef REEFPrice $ 0.00042

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

Historical events:

In 2021 years Reef Finance was rebranded as Reef. More info: https://medium.com/reef-finance/new-reef-finance-website-now-live-at-reef-io-513b0b8c7296.