What is REI Network? All You Need to Know About REI
Introduction
REI Network, formerly known as GXChain, represents a significant evolution in the blockchain space. This decentralized public blockchain has been meticulously redesigned to facilitate smooth operation across various devices using languages like Node.js. Its streamlined architecture sets it apart from other open-source blockchains, providing enhanced ease of use and quick connectivity.
Notably, REI Network supports Ethereum Virtual Machine (EVM) compatibility, enabling seamless migration of decentralized applications (dApps). With a focus on innovation and inclusivity, REI Network aims to address internet data-related challenges and promote a more transparent and equitable digital future. Through its unique features and forward-thinking approach, REI Network is poised to substantially impact the global blockchain ecosystem.
What is REl Network?
Source: REI Network
REI Network is a decentralized public blockchain that’s completely rebuilt to work smoothly across different devices using some specific programming language such as node.js. Unlike other open-source blockchains, REI Network is simpler and easier to use, making it easy to connect with other systems and run quickly. This fast transaction became feasible as part of the restructuring process that it went through.
Source: REI Network
REI Network is an evolved iteration of GXChain, as it was formerly known, which is the basis for recent developments in the project. One of the reasons why it transformed into REI was to align with blockchain’s evolving trajectory and strive for a lightweight, Ethereum-compatible framework with heightened performance and fee-free transactions. This upgrade was motivated by the need to stay abreast of the constantly evolving blockchain’s developmental trends and ensure seamless adaptation to emerging demands as well.
Throughout its trajectory, REI Network has remained committed to its mission of innovation and inclusivity within the blockchain ecosystem. With each phase, the project iteratively advances toward its vision of a more efficient, scalable, and accessible decentralized network, poised to impact the global digital infrastructure.
REl’s Use Case
REI Network aims to tackle internet data-related challenges by developing innovative solutions within its ecosystem. Through an inclusive governance model and commitment to addressing real-world issues, it strives to redefine the landscape of decentralized technologies, fostering a more equitable and transparent digital future.
Compatibility With EVM
Source: REI Network
Building a protocol that is compatible with Ethereum Virtual Machine (EVM) is usually not an easy feat to come by. One of the remarkable features of the REI Network is its compatibility with EVM and Ethereum RPC, facilitating the smooth migration of decentralized applications (dApps).
Through its innovative “staking & replacement” mechanism, users can conduct on-chain transactions with near-zero fees, enhancing accessibility and affordability for participants. Unlike other projects in the web3 landscape, REI Network further aspires to nurture a vibrant decentralized ecosystem, fostering collaboration among users, developers, and other protocols through its value proposition.
How Does REl Network Work?
Source: REI Network
REI Network boasts a suite of enhancements and innovations designed to optimize its performance and adaptability within the blockchain ecosystem. First and foremost, it aligns seamlessly with Ethereum’s Virtual Machine (EVM), ensuring compatibility with existing dApps and smart contracts, and supports Ethereum’s RPC and Websocket interfaces.
REI Network implements a hybrid Delegated Proof of Stake (DPoS) and Byzantine Fault Tolerance (BFT) consensus algorithm to achieve a more efficient and environmentally sustainable consensus mechanism. This approach enhances decentralization and reduces energy consumption, aligning with broader sustainability goals.
Additionally, the network introduces an abstract consensus module, facilitating easy integration and customization for developers, thus empowering them to build diverse and interoperable blockchain solutions.
REI Network RoadMap
Source: REI Network
REI Network’s plan is truly exciting and covers the period from the second quarter of 2021 to 2024, outlining important milestones and advancements in the project’s progress. As it progresses along this journey, it meticulously showcases the various phases of the burgeoning protocol and all the details included in each phase.
GXChain 2.0 Developer Preview Version
The beginning of the second quarter of 2021 saw the launch of the GXChain 2.0 developer Preview Version, which signaled the start of the journey, along with the official release of its code to the public. The release of the GXChain 2.0 testnet included new features such as Ethereum Virtual Machine (EVM) and utilized a Proof of Authority (POA) consensus mechanism.
Stacking and Slashing Modules
Entering the third quarter of 2021, the GXChain 2.0 testnet underwent upgrades, including stacking and slashing modules to improve block confirmation speed. In the final quarter of 2021, GXChain 2.0 testnet made substantial progress by shifting to a free economic model, resulting in the official name change to REI Network. The connection between GXChain 2.0 and REI Network was achieved using GXC-Relay, allowing for smooth CrossChain operations.
The Eureka Moment
The Eureka moment arrived in Q1 2022 with the singular rebrand from GXChain to REI Network. This phase saw compatibility enhancements with EVM and Ethereum infrastructure, along with the FreeStake (Free Economic Model) testnet launch and $GXC-$REI token swap.
Tribe(s) Phase
The Tribes phase was implemented in Q2 2022 and accelerated REI Network’s development, fostering integration with mainstream blockchain ecosystems and unveiling growth plans for users and Total Value Locked (TVL). Additionally, the launch of FreeStake mainnet and the initiation of REI DAO (decentralized governance), and Super Node Campaign marked significant strides towards decentralization and community empowerment.
Federation Phase
Transitioning to the Federation phase in Q3-Q4 2022, REI Network focused on enhancing its technological infrastructure to achieve optimal performance and scalability. In this phase, efforts were directed towards modular public chain technology, integrating rollups, sharding, and multi-chain solutions. Large-scale projects and ecosystem growth initiatives, particularly in DeFi, GameFi, NFT, and SocialFi sectors, were prioritized alongside brand reinforcement endeavors.
Performance Optimization and Global Adoption Efforts
In 2023, REI Network doubled down on performance optimization and global adoption efforts. Modular public chain technology was leveraged to overcome the Trilemma of public chains, ensuring significant performance gains while upholding security and decentralization principles. The native asset, $REI, found increased utility across diverse fields and applications, solidifying REI Network’s role in fostering inclusive social impact.
REI Network DAO
Source: REI Network
REI Network recognizes the importance of adopting a Decentralized Autonomous Organization (DAO) as a governance mechanism. DAOs have been gaining traction since 2019, offering a community-driven approach to governance. In today’s landscape, DAOs are crucial in exploring diverse functionalities and values across various scenarios and ecosystems. They serve as a fundamental concept in the Web 3.0 era, embodying a decentralized governance model facilitated by blockchain technology.
For REI Network, embracing a DAO is a technological imperative and a social experiment within the crypto sphere. As the crypto world evolves, it becomes increasingly vital for projects like REI to adapt and innovate. Transitioning to a DAO model signifies a significant step forward in decentralization and community involvement in project governance. It empowers users and stakeholders to actively participate in decision-making processes, fostering a sense of ownership and accountability within the ecosystem.
In essence, the era of Web 3.0 demands a paradigm shift towards decentralized governance models like DAOs. For REI Network, this transition is not just about adopting a new technology; it’s about embracing a philosophy that aligns with the ethos of blockchain technology itself. By embracing DAOs, REI Network aims to enhance transparency, inclusivity, and resilience, paving the way for a more democratic and sustainable future in the crypto world.
REl Network’s Partnership
REI Network has been actively fostering collaborations and partnerships within the crypto space, demonstrating its commitment to openness and innovation. Backed by what most people will refer to as huge financial corporate entities, and has brokered partnerships with leading web3 projects, crypto exchanges, News Feeds, Auditing Firms, etc. REI Network showcases itself as a promising project with lots of use cases and potential for users.
Source: REI Network
One notable collaboration is with Pira Finance, a community-owned decentralized exchange (DEX) that aims to reshape decentralized finance. By leveraging REI Network’s EVM compatibility and Pira Finance’s innovation, they aspire to democratize financial access globally, creating a borderless financial ecosystem.
Further, REI Network has embraced Layer 2 solutions, such as OP Sequencer, to enhance transaction throughput and alleviate network congestion. This strategic integration accelerates transaction verification and completion, and bolsters network security, ultimately enhancing user experience and attracting a broader user base.
Quite known and has gained recognition among some notable platforms, REI Network has expanded its ecosystem through partnerships and integrations with various web3 projects. For instance, REI/USDT perpetual contracts were added to the Gate.io crypto exchange, while collaborations with platforms like OpenName, OpenTaskAI, Coral Finance, DeSui, and DimAI have been initiated. These collaborations have led to insightful AMA sessions, Christmas giveaways, and listings on leading exchanges reinforcing REI Network’s position in the crypto space.
Additionally, REI Network actively engages with its community through educational initiatives, such as decoding multisig wallets and hosting AMAs with partner projects like Nasdex, and dot.GAMING, and others. These efforts enhance community engagement and contribute to the adoption and understanding of blockchain technology.
What is REl Coin?
Part of the exciting features of the REI Network is the creation of its native token called REI Coin. Holders of REI Coin are entitled to a handful of access to many social utilities and developments within the ecosystem, like having a VIP pass to high-profile events, and participation in governance and decision-making, thus empowering users to voice their opinion on critical issues in the ecosystem.
The total supply of REI tokens is capped at 1 billion (1,000,000,000) REI.
Is REI Network (REI) a Good Investment?
Considering REI Network as an investment option entails a comprehensive analysis of its innovative features and future projections. Thus, its compatibility with Ethereum Virtual Machine (EVM) facilitates seamless migration of dApps, while the hybrid Delegated Proof of Stake (DPoS) and Byzantine Fault Tolerance (BFT) consensus algorithms enhance performance and sustainability.
The network’s focus on fee-free transactions, scalable infrastructure, and inclusive governance through a Decentralized Autonomous Organization (DAO) underscores its commitment to advancing decentralized technologies. However, before investing in the project, potential investors should conduct thorough research and consider market dynamics, regulatory changes, and technological advancements. Additionally, assessing factors such as project fundamentals, development milestones, and broader market trends can aid investors in gauging the viability of REI as an investment asset.
How to Own REI?
You can buy REI from centralized cryptocurrency exchanges. For example, Gate.io offers traders the following trading pair: REI/USDT. To own the token, create a Gate.io account and complete the registration process. Also, you need to fund your spot trading account and go through the steps to buy REI.
Buy From Gate.io: REI Network (REI) Perpetual Contract
Gate.io boasts one of the most active perpetual contract markets globally, with a daily trading volume reaching up to 0.4 billion USDT. This makes it a vibrant platform for experienced traders and newcomers looking to hone their skills.
Gate.io has introduced REI/USDT perpetual contract trading, allowing users to trade with up to 50x leverage using USDT as a margin. The funding interval for these contracts occurs every 4 hours, with a funding rate capped at ±2%.
To start trading REI/USDT perpetual contracts, visit:
[Gate.io Futures Trading] https://www.gate.io/futures/USDT/REI_USDT
Following these steps, you can easily purchase REI Coin on Gate.io, leveraging the platform’s secure and user-friendly interface.
Take Action on REI Network
Check out REI price today and start trading your favorite currency pairs on Gate.io, Binance, and other platforms:
Related articles
What Is Ethereum 2.0? Understanding The Merge
What Is a Cold Wallet？
What is Blum? All You Need to Know About BLUM
What is REI Network? All You Need to Know About REI
What is REl Network?
How Does REl Network Work?
REI Network RoadMap
REI Network DAO
REl Network’s Partnership
What is REl Coin?
Is REI Network (REI) a Good Investment?
How to Own REI?
Take Action on REI Network
Introduction
REI Network, formerly known as GXChain, represents a significant evolution in the blockchain space. This decentralized public blockchain has been meticulously redesigned to facilitate smooth operation across various devices using languages like Node.js. Its streamlined architecture sets it apart from other open-source blockchains, providing enhanced ease of use and quick connectivity.
Notably, REI Network supports Ethereum Virtual Machine (EVM) compatibility, enabling seamless migration of decentralized applications (dApps). With a focus on innovation and inclusivity, REI Network aims to address internet data-related challenges and promote a more transparent and equitable digital future. Through its unique features and forward-thinking approach, REI Network is poised to substantially impact the global blockchain ecosystem.
What is REl Network?
Source: REI Network
REI Network is a decentralized public blockchain that’s completely rebuilt to work smoothly across different devices using some specific programming language such as node.js. Unlike other open-source blockchains, REI Network is simpler and easier to use, making it easy to connect with other systems and run quickly. This fast transaction became feasible as part of the restructuring process that it went through.
Source: REI Network
REI Network is an evolved iteration of GXChain, as it was formerly known, which is the basis for recent developments in the project. One of the reasons why it transformed into REI was to align with blockchain’s evolving trajectory and strive for a lightweight, Ethereum-compatible framework with heightened performance and fee-free transactions. This upgrade was motivated by the need to stay abreast of the constantly evolving blockchain’s developmental trends and ensure seamless adaptation to emerging demands as well.
Throughout its trajectory, REI Network has remained committed to its mission of innovation and inclusivity within the blockchain ecosystem. With each phase, the project iteratively advances toward its vision of a more efficient, scalable, and accessible decentralized network, poised to impact the global digital infrastructure.
REl’s Use Case
REI Network aims to tackle internet data-related challenges by developing innovative solutions within its ecosystem. Through an inclusive governance model and commitment to addressing real-world issues, it strives to redefine the landscape of decentralized technologies, fostering a more equitable and transparent digital future.
Compatibility With EVM
Source: REI Network
Building a protocol that is compatible with Ethereum Virtual Machine (EVM) is usually not an easy feat to come by. One of the remarkable features of the REI Network is its compatibility with EVM and Ethereum RPC, facilitating the smooth migration of decentralized applications (dApps).
Through its innovative “staking & replacement” mechanism, users can conduct on-chain transactions with near-zero fees, enhancing accessibility and affordability for participants. Unlike other projects in the web3 landscape, REI Network further aspires to nurture a vibrant decentralized ecosystem, fostering collaboration among users, developers, and other protocols through its value proposition.
How Does REl Network Work?
Source: REI Network
REI Network boasts a suite of enhancements and innovations designed to optimize its performance and adaptability within the blockchain ecosystem. First and foremost, it aligns seamlessly with Ethereum’s Virtual Machine (EVM), ensuring compatibility with existing dApps and smart contracts, and supports Ethereum’s RPC and Websocket interfaces.
REI Network implements a hybrid Delegated Proof of Stake (DPoS) and Byzantine Fault Tolerance (BFT) consensus algorithm to achieve a more efficient and environmentally sustainable consensus mechanism. This approach enhances decentralization and reduces energy consumption, aligning with broader sustainability goals.
Additionally, the network introduces an abstract consensus module, facilitating easy integration and customization for developers, thus empowering them to build diverse and interoperable blockchain solutions.
REI Network RoadMap
Source: REI Network
REI Network’s plan is truly exciting and covers the period from the second quarter of 2021 to 2024, outlining important milestones and advancements in the project’s progress. As it progresses along this journey, it meticulously showcases the various phases of the burgeoning protocol and all the details included in each phase.
GXChain 2.0 Developer Preview Version
The beginning of the second quarter of 2021 saw the launch of the GXChain 2.0 developer Preview Version, which signaled the start of the journey, along with the official release of its code to the public. The release of the GXChain 2.0 testnet included new features such as Ethereum Virtual Machine (EVM) and utilized a Proof of Authority (POA) consensus mechanism.
Stacking and Slashing Modules
Entering the third quarter of 2021, the GXChain 2.0 testnet underwent upgrades, including stacking and slashing modules to improve block confirmation speed. In the final quarter of 2021, GXChain 2.0 testnet made substantial progress by shifting to a free economic model, resulting in the official name change to REI Network. The connection between GXChain 2.0 and REI Network was achieved using GXC-Relay, allowing for smooth CrossChain operations.
The Eureka Moment
The Eureka moment arrived in Q1 2022 with the singular rebrand from GXChain to REI Network. This phase saw compatibility enhancements with EVM and Ethereum infrastructure, along with the FreeStake (Free Economic Model) testnet launch and $GXC-$REI token swap.
Tribe(s) Phase
The Tribes phase was implemented in Q2 2022 and accelerated REI Network’s development, fostering integration with mainstream blockchain ecosystems and unveiling growth plans for users and Total Value Locked (TVL). Additionally, the launch of FreeStake mainnet and the initiation of REI DAO (decentralized governance), and Super Node Campaign marked significant strides towards decentralization and community empowerment.
Federation Phase
Transitioning to the Federation phase in Q3-Q4 2022, REI Network focused on enhancing its technological infrastructure to achieve optimal performance and scalability. In this phase, efforts were directed towards modular public chain technology, integrating rollups, sharding, and multi-chain solutions. Large-scale projects and ecosystem growth initiatives, particularly in DeFi, GameFi, NFT, and SocialFi sectors, were prioritized alongside brand reinforcement endeavors.
Performance Optimization and Global Adoption Efforts
In 2023, REI Network doubled down on performance optimization and global adoption efforts. Modular public chain technology was leveraged to overcome the Trilemma of public chains, ensuring significant performance gains while upholding security and decentralization principles. The native asset, $REI, found increased utility across diverse fields and applications, solidifying REI Network’s role in fostering inclusive social impact.
REI Network DAO
Source: REI Network
REI Network recognizes the importance of adopting a Decentralized Autonomous Organization (DAO) as a governance mechanism. DAOs have been gaining traction since 2019, offering a community-driven approach to governance. In today’s landscape, DAOs are crucial in exploring diverse functionalities and values across various scenarios and ecosystems. They serve as a fundamental concept in the Web 3.0 era, embodying a decentralized governance model facilitated by blockchain technology.
For REI Network, embracing a DAO is a technological imperative and a social experiment within the crypto sphere. As the crypto world evolves, it becomes increasingly vital for projects like REI to adapt and innovate. Transitioning to a DAO model signifies a significant step forward in decentralization and community involvement in project governance. It empowers users and stakeholders to actively participate in decision-making processes, fostering a sense of ownership and accountability within the ecosystem.
In essence, the era of Web 3.0 demands a paradigm shift towards decentralized governance models like DAOs. For REI Network, this transition is not just about adopting a new technology; it’s about embracing a philosophy that aligns with the ethos of blockchain technology itself. By embracing DAOs, REI Network aims to enhance transparency, inclusivity, and resilience, paving the way for a more democratic and sustainable future in the crypto world.
REl Network’s Partnership
REI Network has been actively fostering collaborations and partnerships within the crypto space, demonstrating its commitment to openness and innovation. Backed by what most people will refer to as huge financial corporate entities, and has brokered partnerships with leading web3 projects, crypto exchanges, News Feeds, Auditing Firms, etc. REI Network showcases itself as a promising project with lots of use cases and potential for users.
Source: REI Network
One notable collaboration is with Pira Finance, a community-owned decentralized exchange (DEX) that aims to reshape decentralized finance. By leveraging REI Network’s EVM compatibility and Pira Finance’s innovation, they aspire to democratize financial access globally, creating a borderless financial ecosystem.
Further, REI Network has embraced Layer 2 solutions, such as OP Sequencer, to enhance transaction throughput and alleviate network congestion. This strategic integration accelerates transaction verification and completion, and bolsters network security, ultimately enhancing user experience and attracting a broader user base.
Quite known and has gained recognition among some notable platforms, REI Network has expanded its ecosystem through partnerships and integrations with various web3 projects. For instance, REI/USDT perpetual contracts were added to the Gate.io crypto exchange, while collaborations with platforms like OpenName, OpenTaskAI, Coral Finance, DeSui, and DimAI have been initiated. These collaborations have led to insightful AMA sessions, Christmas giveaways, and listings on leading exchanges reinforcing REI Network’s position in the crypto space.
Additionally, REI Network actively engages with its community through educational initiatives, such as decoding multisig wallets and hosting AMAs with partner projects like Nasdex, and dot.GAMING, and others. These efforts enhance community engagement and contribute to the adoption and understanding of blockchain technology.
What is REl Coin?
Part of the exciting features of the REI Network is the creation of its native token called REI Coin. Holders of REI Coin are entitled to a handful of access to many social utilities and developments within the ecosystem, like having a VIP pass to high-profile events, and participation in governance and decision-making, thus empowering users to voice their opinion on critical issues in the ecosystem.
The total supply of REI tokens is capped at 1 billion (1,000,000,000) REI.
Is REI Network (REI) a Good Investment?
Considering REI Network as an investment option entails a comprehensive analysis of its innovative features and future projections. Thus, its compatibility with Ethereum Virtual Machine (EVM) facilitates seamless migration of dApps, while the hybrid Delegated Proof of Stake (DPoS) and Byzantine Fault Tolerance (BFT) consensus algorithms enhance performance and sustainability.
The network’s focus on fee-free transactions, scalable infrastructure, and inclusive governance through a Decentralized Autonomous Organization (DAO) underscores its commitment to advancing decentralized technologies. However, before investing in the project, potential investors should conduct thorough research and consider market dynamics, regulatory changes, and technological advancements. Additionally, assessing factors such as project fundamentals, development milestones, and broader market trends can aid investors in gauging the viability of REI as an investment asset.
How to Own REI?
You can buy REI from centralized cryptocurrency exchanges. For example, Gate.io offers traders the following trading pair: REI/USDT. To own the token, create a Gate.io account and complete the registration process. Also, you need to fund your spot trading account and go through the steps to buy REI.
Buy From Gate.io: REI Network (REI) Perpetual Contract
Gate.io boasts one of the most active perpetual contract markets globally, with a daily trading volume reaching up to 0.4 billion USDT. This makes it a vibrant platform for experienced traders and newcomers looking to hone their skills.
Gate.io has introduced REI/USDT perpetual contract trading, allowing users to trade with up to 50x leverage using USDT as a margin. The funding interval for these contracts occurs every 4 hours, with a funding rate capped at ±2%.
To start trading REI/USDT perpetual contracts, visit:
[Gate.io Futures Trading] https://www.gate.io/futures/USDT/REI_USDT
Following these steps, you can easily purchase REI Coin on Gate.io, leveraging the platform’s secure and user-friendly interface.
Take Action on REI Network
Check out REI price today and start trading your favorite currency pairs on Gate.io, Binance, and other platforms:
Related articles
What Is Ethereum 2.0? Understanding The Merge
What Is a Cold Wallet？