Radix is a high-throughput protocol for building decentralized applications, tokens and coins.
Radix is a high-throughput platform to build and distribute decentralized applications.
In research and development since 2011, Radix DLT is the first, infinitely scalable, Distributed Ledger Protocol for trustless systems. It is an eventually consistent distributed database, with absolute ordering of related events and n-1 fault detection. It is specifically designed for ease of use and to run on resource restricted devices, helping drive both mass adoption and for use in the Internet of Things (IoT).
The Radix platform will enable developers to create, distribute and manage highly scalable, efficient and secure distributed applications for both public and private networks.
The Radix Public Network is a modular, general-purpose, global computer for decentralized applications that enables inexpensive and scalable transactions at incredible speeds with near-instant finality.
Present blockchain based distributed ledgers do not scale well under load. This is because they are vertical architectures where all nodes participating in the network are required to have the complete global state of the system. The global state requires that all events are delivered and replicated on all nodes - this global requirement to always stay in sync gives an upper limit to the total throughput possible - often referred to as the CAP Theorem limit - of around 500 transactions per second, assuming no other limits.
For a trustless, public network, security is a core issue. Central to this security is the consensus method used, as well as the way in which the platform rewards the nodes that do useful work for the network.
For an object to become a currency, it has to fulfill three roles: a medium of exchange; a unit of account; a store of value. Although DLT technology has enabled trustless transactions over the internet, volatility has delayed their adoption as a medium of exchange and a unit of account. For cryptocurrencies to be adopted widely, they must equal or better the certainty of future purchasing power that fiat currently offers. A low-volatility coin is an asset designed to be price stable over time. This makes it suitable for short-term and medium-term use as a unit of account, a medium of exchange and, a store of value.
Radix provides a solution for reaching consensus, across a distributed ledger, that can scale limitlessly in an efficient, unbounded, linear fashion, without consuming a huge amount of computer resources or capital to secure it. It has a semi-structured, shareable architecture that limits state transfer information to only members of the network that need it, reducing overhead and increasing performance.
How the Radix platform is designed to improve upon and prevent these security issues:
Proof of Work(PoW):
This competitive nature of the Hashcash Proof of Work (PoW) algorithm leads to three results:
This eventually leads to the re-centralization of the network, where only very large miners have any chance of earning mining rewards. At the extreme end, this leaves the possibility of collusion, abuse, and censorship.
While success in Proof of Work is determined by who has the most hashing power, Proof of Stake is determined by whoever holds the most coins.
The Radix Stable Token is a proposed relatively price stable cryptocurrency currently in R&D. It will sit as a module on top of the Radix Tempo protocol and will be controlled by an algorithmic monetary policy of expanding and contracting coin supply.
Radix is a modular DLT platform with the consensus architecture as its core module. Network participants can support more modules to earn tokens proportional to work done for supporting them.
Radix scales in an unbounded, linear fashion, where every new Node increases the overall throughput of the network. Limitless scalability means that each additional node added to the network increases the overall throughput capacity of the network. Increasing the amount of nodes have little to no detrimental effects on pre-existing Nodes and thus the scalability is deemed linear and unbounded.
Fast Transaction Finality
Transactions on the Radix Network confirm in 0.2 seconds and finalize in 5 seconds or less.
Near Zero Transaction Fees
Transaction fees on the Radix Public Network are projected to cost the equivalent of 1¢ or less.
Stable Native Tokens
The Radix Stable Token will be a low volatility cryptocurrency controlled by an algorithmic monetary supply policy of expanding and contracting coin supply. It is stabilized in a decentralized manner autonomously by the network itself.
Internet of Things Enabled
You can run a full Radix Client on as little as 16MB of memory and a 100 Mhz processor. Critically, this enables performance-constrained IoT devices to participate as first-class citizens in the distributed network.
Decentralized Debit Cards
The Radix ledger is built specifically for integrating with existing merchant Point-of-Sale (POS) solutions. Even better, anyone can create their own debit cards using $25 off-the-shelf hardware. Debit cards make it easy for consumers to spend cryptocurrencies and create cold-wallets.
Decentralized Asset Exchange
The Radix Public Network will allow trustless trading of digital assets to prevent counterparty risk and the security + reliability concerns suffered by centralized exchanges.
Scrypto - Smart Contract Language
Secure Instant Messaging
As part of its initial release, Radix will feature highly secure instant messaging client. This will provide a gateway to onboard early adopters of decentralized applications creating additional utility for the tokens.
Decentralized App Store
The Radix Public Network will feature an app store similar to Google Play to distribute decentralized applications.
Radix relies on trustless collaboration. It distributes work between participating nodes according to their available resources. This promotes device inclusivity and allows Internet-of-Things (IoT) to also participate as first class citizens in the network.
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Public sale —
R&D: Stress testing Bitcoin Blockchain
Alpha Feature Developed: eMunie Naming System (ENS)
200 Transactions Per Second
Alpha Feature Developed: Decentralized Exchange developed
Public Demo: Coinfest-UK
eMunie rebranded to Radix
Public Demo: London Blockchain Week