REI Network

When the idea of blockchain was first thought of in 2016, we wanted to develop a high-performance blockchain that could adapt to growing business demands, so we adopted the Graphene framework to build the initial version of GXChain 1.0. With the continuous iterative upgrade of technology, we introduced the WASM virtual machine into Graphene, which supports traditional programming languages to write smart contracts and implements a token - a voting power - and an innovative staking and voting mechanism in the DPoS election mechanism. GXChain 1.0 completed its historical mission within a timeframe and won the support of countless community users. At the end of 2019, when we witnessed the DeFi boom, we considered whether GXChain could provide a more user-friendly experience for these DeFi projects. When we tried to implement these basic DeFi ideas in GXChain 1.0, we encountered some issues:

Many DeFi projects are built on Ethereum/EVM, and most of them adopt the Solidity programming language.

Although Ethereum is not very easy to use (low efficiency and high cost), it seems that developers and users care little about it.

So, we consider that what really attracts these developers is the following. After a period of research, we discovered:

The EVM has a more mature and historically tested instruction set, as well as a friendly compiler and editor and other infrastructure, and has accumulated a large number of developers on these bases.

The ecology of the EVM has better standards, such as ERC20, ERC721, etc., and the combination of these standards is very strong.

The Ethereum community has accumulated a large number of high-quality projects and loyal users in its early days. Although Ethereum is not very user-friendly, it is still the first choice for DeFi projects.

Therefore, we decided to make GXChain 2.0 compatible with the EVM and its ecological infrastructure, so that DeFi developers and their applications can seamlessly migrate to GXChain 2.0, maintaining the same experience as the Ethereum blockchain and improving consensus efficiency (the performance of GXChain 2.0), while reducing usage costs. After these preliminary ideas, we quickly refined some specific technical solutions, namely the technical characteristics of GXChain 2.0:

Compatible with EVM

Compatible with Ethereum's RPC and Websocket interfaces and may support GRPC in the future.

Rewrite the network module and use Libp2p instead of Devp2p (the current Ethereum client solution), because we believe that Libp2p has better standards and can achieve better versatility and scalability.

Achieve lower resource consumption through tokenomics design (Gas Free).

Realizable system contracts that can be forked and updated. These contracts include: Staking/Slashing, ResourceManager, and IBC, etc.

Achieve a more efficient and random consensus: DPoS+BFT, to ensure decentralization and be a greener power.

Implement the abstract consensus module, so that the REI Network code can be easily combined and become a chain building tool.

In light of the technical ideals mentioned above, we hope that the code of GXChain 2.0 will no longer be a simple Fork or depend on an open-source chain building framework, but rather, based on the EVM, rebuild the network, consensus, node election, and RPC modules. We expect these codes to be more concise and modular for better composability.#ReiNetwork $REI