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Reef priceREEF
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About Reef (REEF)
What is Reef (REEF)?
Reef blockchain is a fast and efficient Layer-1 blockchain that's perfect for DeFi, NFT, and gaming applications. Developed with the Substrate Framework, it's highly scalable, which means you can enjoy almost instant, low-cost transactions. Plus, it supports Solidity and EVM, so developers can easily migrate their DApps from Ethereum without having to change anything in the codebase.
Who are the Founders of Reef (REEF)?
Reef Chain was founded by Denko Mancheski, who wanted to create the most advanced blockchain for retail investors interested in DeFi, NFTs, and Gaming. Mancheski's goal was to simplify the interaction with blockchain and help newcomers understand complex concepts. Reef offers access to many bridges to other blockchains, making it easy to port funds and liquidity to Reef Chain. This means that retail investors can benefit from high scalability and low fees. Mancheski, who is from Macedonia, has said that forming a competent team was the biggest challenge in bringing Reef to life.
How does Reef (REEF) Work?
Reef Chain is a highly advanced EVM-compatible blockchain that offers self-upgradability and on-chain governance. Reef also supports EVM extensions, allowing for native token bridge, scheduled calls, and smart contract in-place code upgrades. Soon, it will also support additional VMs, enabling developers to write code in multiple programming languages. The network uses a Nominated Proof-of-Stake consensus mechanism, which is scalable and has low fees.
Reef is supported by many leading funds and venture capitalists, such as NGC, QCP, Bitcoin.com, Kenetic Capital, LD Capital, TRG Capital, Krypital Group, Genesis Block, Woodstock Fund, and others.
Reef Chain's development tools include Remix and EVM integrated development environments for uploading and deploying smart contracts, Reefscan blockchain explorer, Reef command line tools, and Reef wallet for accessing and interacting with the blockchain.
What makes Reef (REEF) Unique?
Reef is a platform that caters to those who are new to cryptocurrency and existing DeFi users who struggle to maintain funds and wallets across multiple blockchains. The team has addressed the issue of high gas fees on the Ethereum blockchain by using Substrate, which allows for almost instant and low-cost transactions. Some say that Ethereum's fees make DeFi protocols "unusable," but Reef has solved this problem. What sets Reef apart is that any DeFi protocol that has already been deployed on Ethereum or an EVM-compatible network can be used on Reef with only a few code changes. Reef Chain sits at the intersection of Ethereum and Polkadot, with bridges to other blockchains. This means that anyone with a Web3 wallet who wants to access dApps on Reef can do so. Reef is extensible due to its construction on Substrate and supports multiple VMs, including popular ones like EVM. It has the functionality of on-chain upgrades, making it easy to introduce new features through the networking layer, as well as on-chain governance.
What is the REEF Token?
REEF is a versatile native token that fulfills various functions, such as processing transaction fees and storing data. Additionally, users can run validator nodes by staking REEF tokens, as well as nominate preferred validator nodes to be part of the network.
REEF to local currency
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How to buy Reef(REEF)
Create Your Free Bitget Account
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Buy Reef (REEF)
Trade REEF perpetual futures
After having successfully signed up on Bitget and purchased USDT or REEF tokens, you can start trading derivatives, including REEF futures and margin trading to increase your income.
The current price of REEF is $0.001036, with a 24h price change of +3.02%. Traders can profit by either going long or short onREEF futures.
Join REEF copy trading by following elite traders.
Reef news
Bitget spot margin will remove the following trading pairs and close the trading function at 03:00 on October 25, 2024 (UTC ): REEF/USDT (All will be referred to as “relevant trading pair” in the following content.) The details are below: Suspension borrowing and lending features Bitget has closed
An analysis company had recently warned of a serious correction regarding the altcoin, which had experienced a major rise.
Reef Social Data
In the last 24 hours, the social media sentiment score for Reef was 3.3, and the social media sentiment towards Reef price trend was Bullish. The overall Reef social media score was 7,719, which ranks 325 among all cryptocurrencies.
According to LunarCrush, in the last 24 hours, cryptocurrencies were mentioned on social media a total of 1,058,120 times, with Reef being mentioned with a frequency ratio of 0.01%, ranking 155 among all cryptocurrencies.
In the last 24 hours, there were a total of 253 unique users discussing Reef, with a total of Reef mentions of 108. However, compared to the previous 24-hour period, the number of unique users decrease by 19%, and the total number of mentions has decrease by 8%.
On Twitter, there were a total of 3 tweets mentioning Reef in the last 24 hours. Among them, 33% are bullish on Reef, 0% are bearish on Reef, and 67% are neutral on Reef.
On Reddit, there were 7 posts mentioning Reef in the last 24 hours. Compared to the previous 24-hour period, the number of mentions increase by 17% .
All social overview
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