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Radix DLT is a distributed ledger protocol that lets developers build DeFi apps with increased security and scalability. The Radix DeFi platform offers several alternatives to layer-1 protocols that are not suitable for the large-scale adoption of DeFi.

The Radix network has its native coin, XRD, which powers the ecosystem.

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Read on to learn everything you need to know about the Radix network and the XRD token.

What Is Radix

Radix is a public distributed ledger protocol designed to provide a higher level of performance and solve DeFi development problems. Radix lets developers build various decentralized applications (DApps) and smart money apps such as stablecoin platforms, yield farming protocols, games, NFTs, lending and borrowing platforms, etc.

Radix is an alternative base layer (Layer 1) to blockchain networks like Ethereum or Solana with a goal to build an open, interconnected platform. Radix platform describes itself as the only decentralized network allowing developers to build quickly without worrying about security risks. In Radix, developers receive rewards for each improvement made to the protocol using the native XRD token.

Radix has a native cryptocurrency, XRD, used for securing the network, accessing DeFi, deploying smart contracts, and paying transaction fees. As Radix uses the Proof-of-Stake consensus mechanism, token holders can stake their assets and earn rewards in return. XRD can also be used across the DApps within the Radix DeFi ecosystem, i.e., serve as collateral in a lending platform. XRD runs on the RADIX chain and on Ethereum as e-Radix or eXRD, and the e-Radix price is equal to XRD, as they have the same values and utilities. Users can easily exchange XRD and eXRD tokens through a bridge connecting Ethereum and Radix ecosystems.

Radix Founders

Dan Hughes is the founder of Radix. He is an entrepreneur and software developer who started building the protocol in 2016. The journey of Radix began in 2013 when Dan, exploring Bitcoin, saw how promising the network was and the challenges it faced. He concluded that scaling is paramount for any crypto to become a new global cash system and meet global demand. So, Hughes began experimenting with various approaches to discover Bitcoin's scalability limits. He concluded that the highest number of transactions per second (TPS) was 700-1000.

Hughes started a project called eMunie via bitcointalk.org forums in 2013 and continued testing several technological solutions for decentralized protocols and smart contracts development till 2016. After the experiments, Dan started developing Radix that currently uses a Consensus mechanism called Cerberus, and its smart contract execution environment is the Radix Engine.

The CEO of Radix is Piers Ridyard, who is skilled in Management, Business Development, Finance, Venture Capital, and Private Equity.

Radix Launch and XRD Tokenomics

Radix Tokens Jersey Limited, a company registered in Jersey, held the e-XRD token sale from October 10 to 22, raising $12.7 million. Token distribution started on November 17.

Before the Radix ledger release, Radix was launched on the Ethereum blockchain as an ERC-20 e-Radix token (eXRD). The circulating supply of e-RADIX was 42 million, along with the maximum circulating supply of 4.41 bln. 642 million e-Radix tokens (14.6% of the initial supply) were sold in the token sale.

The Radix mainnet Olympia was launched on July 28, 2021, and the XRD token went live on the native network. The initial ERC-20 based XRD (e-XRD) tokens remained on Ethereum as a wrapped version of XRD. XRD, e-Radix price is volatile and depends on various factors, such as supply and demand, general crypto market trends, protocol upgrades, etc.

The eXRD (e-Radix) price reached its all-time high of $0.6538 on November 14, 2021 (data as of February 27, 2022). The fully diluted market cap of XRD is $3,530,520,674.

XRD has a max supply of 24 billion tokens. 10% (2.4 bln) of the supply was allocated for future development, 10% was locked for the stablecoin reserve, around 10% (2.7 bln) went to Radix Foundation, 50% of the supply was kept for staking rewards (300 M tokens into circulation each year), and around 15% (4.41 billion) was initially allocated as eXRD tokens.

How Does Radix Work

Radix relies on 2 leading technologies: Cerberus consensus algorithm and Radix Engine. The network uses Scrypto programming language for the development of smart contracts, which are called "Components" on Radix.

Cerberus Algorithm

The network validates transactions, ensuring security and achieving high scalability through the Cerberus consensus algorithm. All Radix transactions are composed atomically across multiple shards. This way, the protocol provides linear scalability through unlimited parallelism. In simple words, the technology allows processing many things simultaneously and meets more network demand.

Cerberus is based on a Delegated Proof of Stake (DPoS) mechanism. XRD token holders can choose validator nodes to stake their tokens in the network through a process called delegation. Validator nodes carry out transactions reaching consensus and securing the network. Stakers and node runners are economically incentivized and get rewards for participating in the consensus on transactions.

Radix Engine

The Radix network has its smart contract execution environment (i.e., virtual machine), called the Radix Engine, which is the application layer designed specifically for DeFi. Radix provides developers with tools to build complex systems in a simple way.

Radix Engine uses Component Catalog, a registry of inactive templates that allows any developer to choose among already developed functionalities. Smart contracts can apply to an unlimited number of transactions, and developers can add new blueprints or build smart contracts from scratch.

Where to Buy Radix

Currently, Radix (XRD) is available on the Bitfinex crypto exchange. As for e-Radix, the token can be traded on Gate.io, Uniswap, Kucoin, Mexc, Hoolgd, BitMax, and MXC.