📊｜Project Analysis⏩️REI Network
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🔻About REI Network
REI Network has undergone a strategic transformation last year and completed the deflation of tokens. The current circulation is close to the total amount, ranking around 540th in the total token ranking, with a market value of about 50 million US dollars. Although the project has made some breakthroughs in technology, its ecological development still faces challenges.
🔻REI Technical Highlights:
1️⃣EVM Compatibility:
This makes REI Network compatible with a large number of Ethereum DApps, reduces the migration cost of developers, and can attract more applications to land.
2️⃣Improved Network Module:
Using Libp2p instead of Devp2p improves the versatility and scalability of the network. This is essential for handling high transaction volumes and future development.
3️⃣No Gas Fee Mechanism: Through token economics design, low or even zero-fee transactions are achieved, which is essential for attracting users and developers.
4️⃣Flexible upgrade mechanism: Supports soft forks and system contract upgrades to ensure the long-term sustainable development of the network.
5️⃣Improved consensus mechanism: The combination of DPoS+BFT improves efficiency and security while ensuring decentralization.
6️⃣Modular design: The design of abstract thinking modules allows the code of REI Network to be easily combined into a chain-building tool, which provides more possibilities for future development.
🔻REI Challenges and Risks:
1️⃣Lagged ecological development: The ecological development on the chain mainly depends on one or several major players, lacking widespread application and community participation. This limits the growth and value enhancement of the network.
2️⃣Market volatility: The extreme pull-up-plunge market in March and April this year exposed the volatility of its prices, which brought risks to investors.
3️⃣Intense competition: The blockchain field is highly competitive, and REI Network needs to continue to innovate and develop in order to stand out among many projects.
💎Summary:
REI Network has made significant progress in technology, with low fees and EVM compatibility being its main advantages. However, its ecological development is relatively lagging behind. But the ecological development on the chain is like most tail chains, which is basically carried by one or several entities.
