Insight into REI Network by Comparing With Aptos and SUI
Recently, Aptos and Sui, two Meta-related public blockchains, have attracted widespread attention, of which the founders are the main builders and core developers of the stablecoin project Diem (formerly known as Libra launched by the original Facebook). Although Diem was suspended, the application of related technologies and Move language on the new public chain has attracted the attention of many web3 builders.
As REI Network, which has identified its target audience as billions of Web3 users since the year 2020, it has maintained continuous attention to the market trends and technology trends of public chains. After in-depth research on popular new public chains like Aptos and Sui, we found that these public chains have many similarities with REI Network in terms of vision, user experience, consensus mechanism, decentralized implementation, use cases, etc., which further confirms that REI Network’s original intention is the right way.
Similar visions
Giants such as Facebook, Google, and Amazon dominate the content push, social opinion, user data, and even the wealth of users in the Web 2.0 network, and users’ desire for a neutral, inclusive, equal, safe, and private network environment is exactly
Aptos, SUI, and REI’s vision to help billions of people create assets and access the network in a fair, decentralized, permissionless manner.
The scalability of blockchain is still the mainstream issue in the current web3 development. There are two ways to solve this problem and adapt to the increasing demand for users and transactions. The first is to make the blockchain itself have higher transaction capabilities. The second is to change the way of using the blockchain. The former is what is currently happening in Ethereum. Development on layer2 based on the Ethereum network belongs to the first case, Aptos, SUI, and REI all adopt the latter, and are bridged and compatible with existing public chains. Our goals are not only Web3 stock users but more Web 2.0 user.
For a better user experience
Web3 applications on Aptos, SUI, REI need to be intuitive, instant and low cost. Aptos and SUI adopt transaction parallelization to allow more transactions per second, faster transaction speed and lower price.
REI Network is a new public chain adopting PoS consensus mechanism, which is faster under the premise of ensuring transaction security. In addition, users on the REI Network can stake the $REI they hold to obtain on-chain computing resources through Staking without consuming trading fees, which has huge advantages for high-frequency on-chain transactions.
How to implement decentralization
Aptos, SUI, and REI are all layer 1 public chains based on the PoS consensus mechanism. In theory, under the PoS consensus mechanism, if there are more validators, the network will be more decentralized. Since the mainnets of Aptos and SUI have not been launched, it is not yet possible to judge how many nodes there will be on the two chains after the mainnet is launched. However, according to the twitter space shared by the co-founder of SUI, it can be seen that SUI network will also adopt an authorized PoS consensus mechanism. For most stakers, there is not enough bandwidth to verify transactions, but it may be to gain economic incentives, or to make the network more decentralized, hoping to participate in network nodes, and can choose to authorize tokens to their selected validator, the validator will have access to the token authorizer’s stake, and when the network distributes the reward to the validator, the token authorizer will also receive the reward.
This coincides with the super node election in REI Network. The basic steps of REI Network mainnet block production: run a node — become a verification node — block node election (top 21 nodes will be selected according to the number of votes) — packaging transaction — broadcast transaction — validating node confirmation. The REI Network Foundation will allocate 8 million $REI for node verification incentives every year. The higher the number of votes obtained by the top 21 nodes according to the number of votes, the higher the probability of block production. Those who do not have enough tokens or hardware can choose to delegate their voting rights to the top 21 nodes to obtain rewards and also ensures the decentralization and security of the network, which is the optimal balance between fairness and efficiency.
Friendly development language
In order to allow more excellent developers to join the network development and ecosystem construction of Aptos and SUI, Aptos and SUI adopt the object-oriented programming language (Move). Compared with Solidity or Rust, Move is easier to get started with. There may be only a few thousand excellent Ethereum developers, while there are millions of excellent Java, Python, and Go engineers. In order to build a Web3 network for billions of users, it is necessary to lower the development threshold, so that more Web 2.0 developers can join so that more builders can think and build applications on the blockchain that have not been thought of before.
Although REI Network is not built on the Move language, it adopts the typescript language which is more friendly to Web 2.0 developers. Any programmer with development experience can quickly get started with the typescript language. At the same time, REI Network is based on the lightweight code construction of open-source projects such as LibP2P, EVM, Express, and GRPC, which provides a more relaxed development environment for development.
What specific use cases are suitable for being developed on these chains? (Take GameFi as an example)
Aptos, SUI, and REI are all scalable, fast, and secure networks that will be a key part of the transition from web2 to web3, bringing some significant benefits to users and developers, here taking GameFi as an example to discuss why Web2 project needs to turn to the blockchain, and why is it suitable for them to develop on these chains.
Games built on centralized servers are inherently closed and limited, and blockchains attribute the ownership of in-game assets to users, not the platform, which is the trend in game development. In-game assets can be traded on-chain as monetary value or transferred to other games, while developers can build on top of existing games, making the game ecosystem more open.
But due to scalability issues, multimedia games cannot be built on top of most blockchains, Aptos, SUI, REI will change this. REI Network also actively communicates with traditional game studios, hoping to introduce more traditional games to REI Network, so that GameFi is not limited to web3, but can reach more mainstream game communities.
Ecosystem incentives
Grants can motivate developers to achieve ecosystem prosperity. Aptos, SUI, and REI are all well-versed in this. On June 29, Aptos announced the first phase of the incentive plan before AIT2. Compared with other infrastructure, from mid-end ecological applications to back-end user education, the coverage is quite wide. SUI also announced that it will provide certain Grants to ecosystem developers.
REI Network officially announced in December 2021 that 150 million $REI will be invested in ecosystem recruitment, accounting for 15% of the total tokens. After the release of the ecosystem incentive plan, it has received strong responses from the developer community. Hundreds of projects have been REI Network’s ecosystem partner in just a few months, and after a multi-dimensional assessment, the first batch of Grants have been distributed in 2022.
Development status of REI Network
From the perspective of the development of the Diem-related public chains, we can see that the consensus mechanism, development language, target audience, and incentive method adopted by REI Network are all mainstream paths for the development of the Web3 public chain.
In 2022, REI Network Foundation will make efforts in ecosystem cooperation, super node elections, community user education, technical exploration, etc., but its ultimate mission is to develop the ecosystem, promote the decentralization of REI, and gradually become a community-owned ecosystem. The rapid development of REI Network in 2022 also proves the potential of REI community power. Even though the market we are currently in is relatively calm and low, these are all short-term values. To a certain extent, this is indeed important whether users want to participate in REI Network and build something with long-term value on it. Success will not depend on the market but on the user base.
