Discover the Radix project, a platform that aims to propel the decentralized finance sector (DeFi) to the general public. Supported by its XRD token, the Radix network relies on the interoperability of DeFi applications, while providing an environment conducive to their development.
What is Radix?
The decentralized finance (DeFi) industry has grown at breakneck speed over the past few months, and this sudden and rapid advance has quickly reached its limits. As the vast majority of protocols are based on the Ethereum network , it is no longer able to provide correct service to users: increased fees , increased transaction times, etc.
It is in this context that the Radix project was born, a layer 1 blockchain protocol which is intended to accommodate DeFi applications , without these being limited in their actions as on Ethereum.
The Radix platform is defined as a combination of 4 basic technologies that solve, layer by layer, the 4 main obstacles to the growth of DeF i:
Cerberus is Radix’s consensus algorithm, which the team refers to as “ a single ledger pre-exploded and uses a new consensus process called braiding .“ More technical details about Cerberus are described in its whitepaper.
To encourage DeFi application developers to join the network, the Developer Royalties component rewards those who contribute to the growth of the network.
According to the Radix whitepaper, the result of the combination of these components is a platform where transactions are fast , inexpensive and secure , where „scalability is unlimited“ and connections between applications without friction, where dApps can be built quickly.
A collaboration with Chainlink
To get reliable market data, Radix recently entered into a collaboration with Chainlink , the famous project providing price oracles.
Like any DeFi project, Radix comes with a token to support its ecosystem, the RADIX. Before the mainnet of Radix is launched, a version of the token meeting the ERC20 standard of Ethereum will be distributed, the E-RADIX (eXRD).
It is in particular this ERC-20 token which is subject to the ICO of the Radix project. For the team, the sale of the E-RADIX token is intended to achieve a high degree of decentralization and to promote distribution through staking, before the entry into service of the mainnet of the Radix protocol.