What is Radix?

Radix (XRD) is a layer 1 smart contract platform that strives to decentralize the global financial system. It is designed with a unique asset-oriented programming language, Scrypto, which aims to improve the Web3 and DeFi developer experience by providing assets (tokens) as a native first-class feature of the language. Radix also features the Radix Engine, a programmable "DeFi Engine", and Cerberus, a unique consensus algorithm that provides atomic composability with linear scalability. The RADIX token, with the ticker XRD, is the native token of the Radix Public Network.

How does Radix work?

Radix operates using a unique BFT-style consensus algorithm called Cerberus. This algorithm is the result of seven years of research and development, and it is designed so that all transactions are atomically composed across shards. This feature is crucial for DeFi to scale to billions of users. Cerberus is also supported by the Radix network's Delegated Proof of Stake (DPoS) system to protect against Sybil attacks. This system allows holders of the XRD token to delegate stake to validator node-runners.

What are the potential use cases for Radix?

Radix seeks to provide a platform for the development of DeFi and Web3 applications. Its unique asset-oriented programming language, Scrypto, is designed to make the development of these applications faster and more secure. The Radix Engine, a "DeFi Engine", seeks to enhance DeFi in a similar way that game engines have enhanced game development. The XRD token is utilized in the security of the Radix Public Network through its role in Radix’s Delegated Proof of Stake system. XRD is also the token that compensates for transaction processing on Radix, which are then removed from circulation.

What is the history of Radix?

Radix was founded by Dan Hughes, a UK-based developer who discovered Bitcoin in 2012. After researching Bitcoin for a year, he started eMunie (later renamed Radix) in May 2013. For the next five years, Hughes focused on solving the scalability problem, inventing and testing multiple consensus architectures. In 2017, Piers Ridyard joined as CEO, the project was renamed Radix, and funding was raised from various sources. The breakthrough of Cerberus in 2020 created a cross-shard atomically composable consensus protocol. The first iteration of the Radix Public Network, “Olympia”, went live in July 2021, and the DeFi development language, Scrypto, was released in early access form in December 2021.