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About Radix
Key Points
- Radix is a layer 1 smart contract platform built for a Web3 future.
- Founded by Dan Hughes in 2013, with Piers Ridyard joining as CEO in 2017.
- Cerberus consensus protocol provides unlimited linear scalability.
- Scrypto programming language and Radix Wallet enable human-readable transactions and more.
Timeline
- 2012: Dan Hughes discovers Bitcoin.
- 2013: eMunie (later renamed Radix) is started on Bitcointalk.
- 2017: Piers Rid
About Radix: Pioneering a New Era in Decentralized Finance
Introducing Radix (XRD): A Revolutionary DeFi Ecosystem
Radix is a pioneering layer 1 smart contract platform designed to usher in a democratized Web3 era, where everyone – not just early adopters – can participate with confidence. Following a decade of rigorous research, testing, and development, Radix has crafted a highly optimized, bespoke technology stack that seamlessly integrates a custom wallet, programming language, execution environment, and consensus algorithm. With the Radix Wallet, users can engage with Web3 and DeFi with ease, enjoying human-readable transactions, transaction guarantees, native assets, and more. Meanwhile, developers can leverage Radix’s Scrypto programming language to build secure, production-ready decentralized applications in a fraction of the time.
The Visionary Founders Behind Radix
Dan Hughes, a UK-based innovator, stumbled upon Bitcoin in 2012. Leveraging his expertise in telecommunications technology development, he envisioned the profound impact that blockchain technology could have on global finance and beyond. Following a year of meticulous research, he launched eMunie (later rebranded as Radix) on Bitcointalk in May 2013.
Over the ensuing five years, Dan dedicated himself to tackling the most pressing issue of the time: scalability. He conceived and experimented with numerous consensus architectures, including Blocktrees, Directed Acyclic Graphs (DAGs), Channelled Asynchronous State Trees (CAST), Tempo, and Cerberus, in a relentless pursuit of innovation.
In 2017, Piers Ridyard assumed the role of CEO, and the project underwent a transformation, adopting the moniker Radix. Concurrently, the venture secured funding from esteemed investors, including Taavet Hinrikus, co-founder of TransferWise, and LocalGlobe, a prominent European venture capital firm.
The groundbreaking achievement of Cerberus in 2020 marked a significant milestone with the creation of the world’s inaugural cross-shard, atomically composable consensus protocol, thereby unlocking the potential for limitless linear scalability.
In 2020, a significant milestone was reached with the establishment of Radix Tokens (Jersey) Limited, a Jersey-based entity situated in the Channel Islands, responsible for issuing XRD and overseeing the Radix Foundation treasury. At the helm of RTJL is CEO Andrew Jarrett.
In July 2021, the inaugural iteration of the Radix Public Network, dubbed “Olympia”, officially came online.
In a groundbreaking move, the revolutionary DeFi development language, Scrypto, was unveiled in early access form in December 2021, poised to reshape the landscape of decentralized finance.
Radix’s “Babylon” mainnet upgrade officially launched on September 28, 2023, introducing smart contracts crafted in Scrypto and integrating the Radix Wallet into the mainnet. In the aftermath, the Radix ecosystem of decentralized applications (dApps) has continued to flourish, yielding innovative Web3 and DeFi products that push the boundaries of innovation.
Unveiling the Unparalleled Radix: A Pioneering Force in the Cryptoverse
Radix stands out across every tier of its technological architecture, offering:
A pioneering, asset-centric programming language, Scrypto, is poised to revolutionize the Web3 and DeFi development landscape by elevating tokens to a native, first-class citizen within the language, thereby dramatically enhancing the developer experience.
A pioneering virtual machine, Radix Engine (dubbed the world’s inaugural “DeFi Engine”), poised to revolutionize decentralized finance (DeFi) in a manner akin to how game engines transformed the landscape of game development.
A pioneering consensus algorithm, Cerberus, innovatively “interweaves” consensus across a vast, decentralized “shardspace”. By virtue of every transaction being seamlessly cross-shard and atomic, Cerberus achieves a distinctive synergy of atomic composability and linear scalability.
The Circulating Supply of Radix (XRD) Coins: An Overview
The RADIX token, denoted by the ticker symbol XRD, serves as the native token of the Radix Public Network.
The Radix Network’s Unwavering Security: A Pillar of Trust
Radix employs a distinctive BFT-style consensus algorithm, known as Cerberus, which is the culmination of seven years of rigorous research, initiated in 2013 and formally articulated in the Cerberus Whitepaper in 2020.
In its ultimate incarnation, Cerberus embodies a paradigmatic shift in the architecture of decentralized Distributed Ledger Technology systems. Notably, it is the sole protocol designed to facilitate atomic composition of transactions across shards, a pivotal feature essential for DeFi to achieve scalability to billions of users.
Cerberus is further bolstered by the Radix network’s Delegated Proof of Stake (DPoS) system, which provides a robust defense against Sybil attacks. This mechanism enables holders of the XRD token to delegate their stake to validator node-runners, thereby ensuring a secure and decentralized network.
Where to Acquire Radix (XRD): A Comprehensive Guide
XRD is accessible on
- AscendEX
- Bitfinex
- Bitmart
- Digifinex
- Gate.io
- LBank
- MEXC
- P2PB2B
- Vindax
- WhiteBIT
- XT.com
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Purpose: XRD serves as a pivotal component in securing the Radix Public Network, where it is staked to ensure the integrity of the platform.
As an integral component of Radix’s Delegated Proof of Stake system, XRD serves as the sole token utilized for settling transaction fees on the Radix network, which are subsequently burnt.
Supply and Allocation: XRD boasts a capped supply of 24 billion tokens:
- At the genesis of the Radix Public Network, a substantial allocation of 12 billion was designated.
A substantial allocation of 9.6 billion tokens has been unlocked.
* A staggering 4.62 billion XRD are currently in circulation, held by the general public, and
A sum that will persistently swell, fueled by network emission rewards, an integral component of Radix’s Delegated Proof of Stake system.
A staggering 2.4 billion units are perpetually secured within the stablecoin reserve.
- A total of 12 billion XRD is being minted by the Radix Protocol as network emission, serving as a reward for stakers and validators over a span of approximately 40 years. This network emission process commenced with the genesis of the Radix Public Network in July 2021.
Regarding the allocation of XRD tokens, please refer to: How were XRD tokens allocated?