Description
Reef is a modular Layer 1 blockchain designed for DeFi, NFTs, and gaming, built using the Substrate Framework to be fast, scalable, and affordable. It features full EVM compatibility, allowing developers to port existing applications from Ethereum without modifying their Solidity code. The platform operates on a Nominated Proof of Stake (NPoS) consensus mechanism, where users can stake REEF tokens to participate in governance and security, earning rewards in the process. Transaction fees are paid in REEF and subsequently burned. Key features include higher throughput than Ethereum, fork-less on-chain upgradability via its WASM runtime, a native token bridge, and scheduled calls. The Reef ecosystem provides a comprehensive suite of tools for both users and developers, including the Reef Web Wallet, the ReefSwap DEX, a mobile app, the Reefscan block explorer, and various SDKs and IDE integrations to facilitate dApp development.