Reef Chain is an EVM compatible chain for DeFi with NPoS/PoC consensus.
If you’re looking for things you can do with Reef, check out the Reef Ecosystem.
Build on Reef
Learn how to stake your Reef tokens and vote for validators. Highly technical users may also participate in validator elections to have a chance of becoming a paid block producer.
Reef is fast, scalable, has low transaction costs and does no wasteful mining.
Reef chain features next-gen blockchain technology, utilizing Nominated Proof of Stake, extensible EVM, on-chain upgradability, libp2p networking and state of the art cryptography.
Reef is efficient, and has a predictable algorithmic fee model. All fees from Reef chain usage are automatically burned.
| Cost of: | Ethereum | Reef | | --------------------------- | ---------- | ---------- | | Making a payment | $11.5 | $0.05 | | Executing an Uniswap trade | $47.6 | $0.12 | | Deploying an ERC-20 Token | $500+ | $1.95 | | Minting a NFT | $500+ | $2.16 |
*Last updated on Oct 20th 2021
Reef vs legacy chains
|Consensus algorithm||Proof of Waste||Proof of Waste||Nominated Proof of Stake|
|Energy consumption||More than Poland||More than Austria||Less than a shopping mall|
|Transaction finality||3600+ seconds||600+ seconds||40 seconds|
|Block time||~600 seconds||~17 seconds||10 seconds|
|Max block size||< 2MB||N/A||3.75MB|
|Throughput||7 tps||14 tps||465 tps|
|Smart contracts||No||Yes, EVM||Yes, EVM|