What is REI Network (REI)?
REI network is an upgraded version of GXChain launched in December 2021; the network changes were brought to improve the adaptability of blockchain development trends and booming DeFi. With advancement, the REI network successfully achieved a new technical architecture that is lightweight, EVM-compatible and offers high-performance and low-cost blockchain. The Ethereum compatibility and zero-cost features have established the network as a friendly and seamless platform for developers to migrate and build DeFi projects.
REI is the native governance token of the REI network. The coin serves various purposes, such as gas fees for network transactions and a Validator Pledge token to secure the network. REI token holders are also responsible for building governance to ensure the network’s stability, secure operation, and ecological growth.
| Launch Date | December 2021 |
| Founder | Mcqueen Huang |
| Blockchain Protocol | REI Blockchain |
| Native Coin | REI |
| Market Cap | $22.31 million |
| Token Type | Native and Governance |
| Circulating Supply | 950 million |
| Total Supply | 1 billion |
| Consensus Method | Delegate Proof of Stake (DPoS) + BFT |
Who are the Founders of REI Network?
The REI network was founded by Mcqueen Huang, the current CEO of REI with the idea of developing a high-performance blockchain that could adapt to the growing demands of the businesses. He is an entrepreneur with a strong background in blockchain and has been involved in crypto world fields since 2012 with experience initiating several projects. Before founding REI, Huang worked as the Chief Technology Officer(CTO) of two companies, Hakim Information Technology Co., Ltd. and Insigma Internet.
How does REI Network work?
The REI network uses Delegated Proof of Stake (DPoS) and Byzantine Fault Tolerance(BFT) mechanisms to ensure the scalability and security of the network. The network ecosystem requires at least 21 validator nodes for operation, storage, and calculation. The validators are selected through the voting process during Super Node Election. The top 21 nodes with the highest votes are declared official Validator nodes. In case a validator node violates block-producing rules, the REI network’s slash mechanism penalizes the node by taking away part of its staked rights and marking it as “SLASHED” to ensure network integrity.
The REI DAO, the decentralized governance community of REI, is an open and transparent governance model consisting of REI token holders, community members, and ecological stakeholders. Apart from governance, DAO is also involved in voting and approving new projects applying for REI network Grants.
What makes REI Unique-Use Cases?
- The REI ecosystem allows users to build a wide range of decentralized applications such as Decentralized exchange, Lending, GameFI, NFT Marketplace, Stablecoin, and more.
- Compared to another blockchain, the REI network’s average block production time is 3 seconds with 3000+ TPS, which gives users a faster experience.
- REI has granted a $150 million REI growth fund for REI ecosystem building.
- REI rewards its DAO community members for participating in the network development through voting.
REI Network (REI) Price Analysis
Source: TradingView
| REI Price Today | $0.0234 |
| Price Change (Yearly) | -45.3% |
| Market Dominance | 0.00% |
| Market Rank (as per CMC) | 575 |
| Market Cap | $22.29 million |
| Fully Diluted Market Cap | $23.47 million |
| ATH | $0.1732 |
| ATL | $0.0193 |
How to Buy REI Coins in India?
To buy REI Coin in India, just follow the below-mentioned steps:
- Download the CoinDCX App on your Smartphone
- Enter the details required for registration.
- Complete KYC
- After your profile is verified, fund your wallet and buy a REI
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