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.

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.

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.

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.

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.