Reef Finance announces new Substrate blockchain to launch in early May
News ‘ De-Fi
The new blockchain attracts cryptocurrency users with low costs and high commitment rates.
News Service – 23. 20 April 2021 at 10:00 GMT – 2 min read
At a time when Ethereum’s gas costs are skyrocketing and a reasonable blockchain is becoming increasingly complex, Reef Finance is getting in on the action with its new Reef blockchain.
This new substrate-based blockchain will be launched in early May, but the exact date will depend on the results of back-end testing currently underway.
This move is a natural evolution of Reef Finance, which provides a standard protocol for all users across all dApps. It also has an algorithm that can learn and develop knowledge from the user’s activities and transactions, helping them to optimize their assets and investments.
Interoperability as a standard
The goal of Reef Finance is to open up the world of decentralized finance and make it more accessible to everyone. Reef Chain will allow developers to scale their projects and make them fully compatible with the Ethereum virtual machine, while integrating Reef projects into the Polkadot ecosystem.
This integration with EVM means that projects can be written in Solidity or Vyper and easily moved up the chain.
An EVM is a network of thousands of nodes (individual computers) that form a unit to ensure smooth and seamless operation of the EVM. This is where all of Ethereum’s smart contacts are located.
Reef Chain will actually connect to the Polkadot parachute and will be compatible with Ethereum and other blockchains to overcome many obstacles for DeFi developers.
Reef Chain claims to be the ideal environment for deFi protocols due to its scalability and deep liquidity integration, as well as the ability for developers to leverage the knowledge of Reef’s extensive community of users, investors and exchanges to bring their projects to life.
If you want to start testing your scripts and tools on the Maldives test network, you can find information on how to do that here.
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