REI Network (REI)

Blockchain Infrastructure and Performance

REI Network is a lightweight, Ethereum-compatible blockchain designed for high performance with an average block time of 3 seconds and over 3000 transactions per second (TPS). It uses innovative tokenomics to enable near-zero transaction fees through a "staking & replacement" mechanism, making on-chain transactions almost free.

Decentralized Applications (dApps)

The network supports a wide range of dApps including decentralized finance (DeFi), GameFi, NFT marketplaces, stablecoins, and decentralized exchanges. Its compatibility with Ethereum Virtual Machine (EVM) allows easy migration of Ethereum-based applications with minimal changes.

Governance and Community

REI Network features a decentralized autonomous organization (DAO) for governance, where token holders can vote on proposals, elect validator nodes, and approve new projects. The native REI token is used for staking, voting, and securing the network.

Cross-Chain and Ecosystem Expansion

REI Network offers cross-chain asset transfers and has activated a bridge to Binance Smart Chain (BSC), expanding interoperability and liquidity. It also partners with Web3 applications to enable gasless payment scenarios and daily consumer use cases.

AI Integration

REI Network is evolving into an AI-native execution layer, supporting on-chain AI agents and modular computing protocols. Users can host AI agent modules and earn REI token rewards, fostering a new ecosystem of AI-compatible decentralized applications.

Token Utility

The REI token is used for paying gas fees, staking to earn rewards, participating in governance, and as a pledge for validator nodes. Stakers can receive Crude tokens as an alternative to gas, enhancing the user experience with almost free transactions.

Advantages

• REI Network offers a lightweight, Ethereum-compatible blockchain with high performance and no transaction fees, making it cost-effective for users.
• It uses a green-based Delegated Proof of Stake (DPoS) and Byzantine Fault Tolerance (BFT) consensus mechanism, which is energy-efficient and supports fast transaction confirmation within seconds.
• The network supports staking, allowing users to earn rewards by voting and helping secure the network.
• REI Network has a unique tokenomics design that lowers resource consumption and provides a user-friendly experience.
• It supports integration with smart contracts, dApps, DeFi, GameFi, and NFTs, increasing its versatility and appeal.
• The platform has active development and community engagement, with ongoing improvements like 1.5-second block times and developer growth funds.

Disadvantages

• The price of REI Network has experienced significant declines, with a drop of over 99% from its all-time high, indicating high volatility.
• Market sentiment is currently pessimistic, and the token is considered high-risk with uncertain future price trends.
• The market capitalization and trading volume are relatively small compared to major cryptocurrencies, which can lead to price manipulation by large holders ("whales").
• REI Network does not support mining, which may be a downside for users interested in traditional Proof of Work mining.
• The token's price performance has underperformed compared to the overall crypto market and similar smart contract platforms recently.

Founders

REI Network was founded by Mcqueen Huang, an entrepreneur with many years of experience in blockchain and cryptocurrency since 2012. He previously served as CTO of Hakim Information Technology Co., Ltd. and Insigma Internet. Some sources also mention the name Minqiang Huang as a founder, but the most consistent information points to Mcqueen Huang as the key founder and current CEO.

Investors in REI Network

• REI Network is a funded company founded by Minqiang Huang in 2016, operating as a platform for blockchain-based solutions.
• In April 2024, REI Network raised $4,000,000 in a strategic round with more than 6 investors involved.
• Some known investors and partners include SalAd Labs (Sales-and-ads), Bee Network, Synbo Protocol, PredxAI, Bitcoin Gbox, GemX Crypto, aZen Network, and Sypool.
• The company has connections with a broad network of organizations and investors active in Moscow and other regions, with a total funding amount in the billions across many organizations.
• REI Network also has a decentralized governance community (DAO) that involves token holders in decision-making.

This shows that REI Network has a diverse group of investors and partners from blockchain, crypto projects, and strategic investors supporting its growth.

Halal Status of REI Network

• General Islamic Finance Principles: For a cryptocurrency to be halal, it should have inherent value, serve a real-world purpose, avoid involvement with interest (riba), and not be linked to prohibited activities.
• REI Network Features: REI Network uses a Delegated Proof of Stake (DPoS) consensus mechanism, offers staking rewards by helping secure the network, and aims for low transaction fees and resource consumption.
• Staking and Rewards: Staking on REI Network involves genuine participation in network validation without guaranteed fixed returns, which aligns with some scholars' views on halal crypto staking.
• No Specific Fatwa or Certification Found: There is no explicit mention of a Shariah certification or fatwa declaring REI Network halal.
• Conclusion: Yes, REI Network can be considered halal because it provides a useful service, uses a compliant staking mechanism, and avoids interest-based earnings, but individual discretion and consultation with a scholar are advised.