Radix is the first-ever layer-one decentralized network that is built specifically to serve DeFi.
Radix is the only decentralized network on which developers can build and create rapidly without worrying about the constant threat of exploits and hacks. On Radix every improvement will get rewarded and scale will not be a hindrance.
Radix (XRD) public decentralized network was launched on the 28th of July , 2021, and is the first great step on creating a new decentralized financial system, and has on the way three huge improvements to DeFi technology globally.
These three features will be released within the next three years.
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What Makes Radix Unique
- It also has a 100x DeFi execution efficiency. All DeFi smart contracts are executed on the Ethereum Virtual Machine (EVM) which is very slow.
- In fact, very slow that, it is one of DeFi’s biggest problems at the moment. The Engine of Radix is designed to change the slowness by substituting the EVM with a lean, mean, state-executing machine.
- This engine is super fast, more energy-efficient, and will be able to perform a huge more task with a specific time frame. The ‘Engine v1’ is released with the first mainnet and was launched on the 28th of July 2021. The ‘Engine v2’ is scheduled to be released in 2022.
- It has a 10x DeFi developer productivity feature. This feature is to solve the problem of DeFi hacks, exploit, and bugs on the Ethereum blockchain.
- A lot of DeFi developers stop building functionalities and are more focused on protecting their already existing codes due to over $285m DeFi hacks, exploits, and bugs.
- To solve this problem, Radix is developing a purpose-built DeFi programming environment known as Scrypto. Scrypto will allow quick and secure development thus giving DeFi developers a lot of time to focus on innovation and adding functionalities to their works rather than focusing on security.
- Scrypto was released in the fourth quarter 2021.
- Radix also has 1000x DeFi scalability. DeFi on Ethereum is not scalable, but globally known thus creating a huge amount of congestion on the network making it very expensive to use.
- A lot of DeFi developers/users underestimate is the huge number of transactions these systems will have to deal with as DeFi goes live.
- Replacing the financial system globally will mean that the systems will have to perform millions of transactions per second, which is way above the capabilities of networks like Ethereum 2.0 and Solana.
- It is also beyond the capabilities of all the layer 2 scaling solutions. The Radix consensus algorithm known as Cerberus is made up of something entirely new to the blockchain industry that is linearly scalable atomic composability for DeFi.
- What this means is that the Radix system will perform millions of transactions per second in a unique feature manner. This feature is scheduled to be released in 2023.
How Radix Works
Radix has features that are created to aid developers at each layer of the DeFi stack. These layers give developers the tools needed to build their platform.
Below are the layers:
- Application Layer – Initially, DeFi developers have to choose between the security of their codes and the speed to market. In orderFor for DeFi to continue to grow, Radix aims at helping developers to build fast without hitches.
- This is why Radix has a purpose-built DeFi programming environment that will allow quick and secure development.
- The Engine v2 is designed in such a way that, it enables developers to build complex financial applications with fewer bugs and less hacks.
- On Radix, developers can easily and quickly assemble DeFi applications from the on-ledger DeFi blueprint library.
- The on-ledger DeFi blueprint library is designed to deliver Faster-To-Market builds for DeFi app developers, as well as lower on-ledger running costs.
- The Radix Dev Royalties are designed to provide on-ledger revenue for component contributors. This is to make sure that individual members of the community and other big projects can be built successfully on Radix.
- The Consensus Layer(Cerberus): For DeFi to become the new global financial standard, it needs to be able to meet global demand.
- Radix uses a proprietary consensus algorithm that allows unlimited linear scalability. That is to say, a public ledger can go up seamlessly to thousands of nodes and billions of users.
- Once developed, this is layer is aimed to remove the congestion issues faced by Ethereum currently. Cerberus is created to deliver a ‘True Finality’, thus once a transaction is final, it is indeed final.
- No waiting for several blocks and wondering if your transaction has gone through.
- Most importantly, no rollbacks of dependent transactions.
- Lastly, Cerberus is designed to provide cross-shard Atomic Composability. It enables DeFi applications on different shards to work together without interrupting other applications or transactions.
- The Ecosystem Layer: Its main goal is to improve access for users. Radix founded GoodFi, it is a non-profit to get about 100m users into DeFi by 2025.
- Radix has believes that the easier the ecosystem is to access, the more value can be brought on to the Radix Ledger.
- Liquidity is the lifeblood of any DeFi ecosystem because of that, Radix intends to take a multi-pronged approach to Improving DeFi Liquidity. Improving Access and Liquidity can also improve how attractive it is to build new DeFi applications on the Radix Network.
Radix Token (XRD)
XRD is the original native token for the Radix Network. The XRD token is a fixed supply token that can be used to pay for transactions on Radix.
All transaction fees on Radix are burnt, which creates a direct relationship between the frequency of token burn with the frequency of Network use.
XRD can also be used by holders to participate in Delegated Proof of Stake (dPoS) on the Radix network and receive network emissions to incentivize staking.
Radix Team Radix DLT founder, Dan Hughes, has been working on the problems associated with scaling public ledgers since 2013.
In recent years the research work has expanded out to include academic collaborations, such as the research collaboration with the University of California.
Davis, and their dedicated blockchain research team. The team also includes YCombinator alumni, ex-Consensys engineers, and builders of professor-beating chess bots! The wide-ranging skills set found within Radix is augmented by backers and advisors that have founded and run multi-billion dollar businesses in finance and beyond.
Where to Buy Radix
You can buy Radix from the following exchanges;
Can Radix Reach $10
At the time of writing this article, the price of XRD was around $0.2, cryptocurrency’s tend to have weird ways of increasing based in just marketing, nonetheless, with coins like XRD, which have real utility, we believe that it is only a matter of time before it reach $10
Orasio research estimates that XRD would reach $10 by the year 2025.
Summary
Radix really does make some bold claims, and it is indeed on course to realize them, the claims made by Radix makes it a very tempting token to invest in, should they accomplish all they hope to achieve, Radix is likely to become a very promising coin in the future.
Radix remain positive in our books
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