Introduction

Reef Chain is an EVM compatible chain for DeFi with NPoS/PoC consensus.

Get started

If you’re looking for things you can do with Reef, check out the Reef Ecosystem.

Build on Reef

Get started with Reef by installing the Reef node, and deploying a simple DeFi app locally in Quick Start.

For in depth tutorials on the underlying aspects of the Reef chain check out the Developer Guide and the Developer Resources.

Governance

Validators and Nominators are essential to the Reef ecosystem.

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.

Why Reef?

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.

Fees

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

BitcoinEthereumReef
Consensus algorithmProof of WasteProof of WasteNominated Proof of Stake
Energy consumptionMore than PolandMore than AustriaLess than a shopping mall
On-Chain upgradabilityN/AN/AYes
Transaction finality3600+ seconds600+ seconds40 seconds
Block time~600 seconds~17 seconds10 seconds
Max block size< 2MBN/A3.75MB
Throughput7 tps14 tps465 tps
Smart contractsNoYes, EVMYes, EVM