REI Network Partners With IBIT
REI Network has announced a strategic partnership with IBIT. This collaboration will integrate REI Network’s lightweight blockchain technology with IBIT’s comprehensive crypto investment and trading platform. The partnership aims to drive innovation in the areas of DeFi, NFTs, and beyond.
Refer to the official tweet by REI:
REI Network｜From #GXChain!@GXChainGlobalMay 09, 2024Thrilled to announce the dynamic collaboration between #REINetwork and @IBIT_Global!
💡REI Network's lightweight blockchain meshes seamlessly with #IBIT's all-in-one crypto investment & trading hub, ushering in a new era of innovation in DeFi, NFTs, and more! pic.twitter.com/VCiGdhLJLc
REI Info
REI Network, previously known as GXChain, is a restructured EVM-compatible blockchain. With its focus on lightweight structure and optimal performance, it aspires to provide a no-fee blockchain infrastructure, while retaining compatibility with the Ethereum Virtual Machine (EVM).
The operational foundation of REI Network is built on a DPoS+BFT consensus algorithm, which accentuates efficiency and energy conservation. The network comprises System Contracts, a suite of intrinsic contracts that facilitate essential functionalities such as staking, inter-blockchain communication (IBC), and resource allocation.
REI, the proprietary token of the network, serves multiple crucial roles within the ecosystem. It is a medium for transaction gas fees, enabling smooth transaction verification. REI also empowers its holders with governance capabilities, allowing them to actively participate in REI DAO’s decision-making process. Additionally, individuals aiming to validate transactions within the REI Network can stake REI tokens to pledge their commitment as network validators.