In the digital financial world today, friction is the major draining system gulping approximately 0.05% of the world’s global GDP value. As it benefits the elite 1% of the population, it delivers inflexible products and services to the 99%; hence, a need to create a solution.
Radix, a Decentralized Finance network, believes that the right permissionless DLT network can solve the above problem. The right permissionless DLT network, if implemented properly, can enable a new era of financial innovation and democratization, providing an open infrastructure of programmable assets that can substantially replace the closed, walled gardens of traditional banking infrastructure today.
Radix plans to remove the friction and technology barriers limiting the expansion of DeFi by building a layer-1 protocol that directly addresses the technology needs of both today’s applications and the future of general financial services for the world.
This approach is a perfect full-stack approach, re-engineering consensus, distributed virtual machines, executable on-ledger code, DeFi component building, DeFi application building, and developer incentives.
Radix further put out the four problems that DeFi developers face today. These barriers are what the DLT platform must solve before DeFi can truly go mainstream and they include:
- Smart contract app hacks, exploits, and failures on Ethereum
- Poor interoperable DeFi dApps faster
- Lack of Incentives in the decentralized development community
- Scale public ledger dApps that breaks DeFi composability
Although these problems are each associated with four crucial layers of a complete DeFi platform stack; Radix has sought ways to analyze and provide the solution by performing a one-stop solution.
Smart contract app hacks, exploits, and failures
Radix Engine, a new development environment let DeFi developers confidently create a new kind of smart contract that lowers the risks of hacks, exploits, and code failures. It is the perfect solution to the ravaging issues of Blockchain security.
Poor interoperable DeFi dApps faster
To begin the ease in the building of interoperable DeFi apps, an on-ledger system that provides access to modular DeFi “lego bricks” is developed.
Scale public ledger dApps that breaks DeFi composability
Since developers need a new consensus and network design to make DeFi scalable without breaking composability and supposed “scalable” networks such as Ethereum 2.0, Near, Polkadot, Cosmos, and Avalanche fail. Radix has focused on a new consensus system to solve this problem, Cerberus1.
Lack of Incentives in the decentralized development community
There is a need for a system that creates a decentralized, self-incentivizing developer ecosystem, similar to blockchain’s current self-incentivizing network infrastructure. Since, the most important innovation of blockchain was the ability to create open networks that are economically self-incentivized – called “mining”. Mining has allowed a community of node-runners to participate and get Incentives.
Radix uses a specific kind of staking as part of its Delegated Proof of Stake (DPoS) Sybil protection mechanism. This staking system is similar to that of persisting Defi infrastructures.
Radix’s DPoS system weights validator consensus votes by the number of XRD staked to each validator node and decides which validators are included in the validator set for each epoch.
Who are the Founders of eRadix (EXRD)?
Dan Hughes, the founder, CEO, and CTO of e-radix is a software developer with over 20 years in computer software and Engineering. He has worked with top brands like Samsung and TMobile as a CTO.
Russell Harvey serves as the CTO alongside Dan and has a Bachelor of Science in Computer Science from Washington University.
Matthew Hine serves as the Chief Product Officer and has a degree in Mechanical engineering from Rice University.
Other notable names are Ben Fargher, the Head of Partnership, and Adam Simmons, the Chief Strategy Officer.
What is eRadix (EXRD) used?
Ease in deploying smart contracts
eRadix has made it possible for developers and users to install and deploy their smart contracts without having any prior knowledge of coding.
Ease in access financial DeFi platforms
Unlike going through the old boring way, eRadix has allowed users to get into Defi platforms and also enjoy seamless transactions.
Other uses include Assets Tokenization, NFTs, and Liquid SStakin
What Is the Unique Point of eRadix (EXRD)?
The unique point of the Radix solution is the unique Consensus algorithm, called Cerberus. Cerberus is designed with a working mechanism called “pre-sharding” where trying to shard to a monolithic ledger is replaced with splitting the ledger into a “shard space” of several shards so large as to be practically unlimited. These shards are used to represent anything ideated, and Cerberus can secure the consensus across an arbitrary number of shards or as required. The Cerberus consensus system combines three core insights:
- A move from the typical concept of global ordering to that of partial ordering. Cerberus takes this concept even further, presuming that each transaction can specify precisely which shards are relevant (and thus must be ordered) for a specific transaction.
- Knowing which shards must be included for a transaction through a new design form of BFT-style consensus called “braiding”.
- Designing the protocol so that dynamic 3-braid consensus processes may run in parallel.
The combination of these insights creates Cerberus, a new consensus algorithm designed specifically for large, diverse networks of simultaneous applications and transactions.
How many eRadix (EXRD) coins are in circulation?
e-radix has a live market cap value of $324,438,198 USD. It also has a circulating supply of 734,834,633 EXRD coins and a maximum supply of 4,410,000,000 EXRD coins.
Is the eRadix (EXRD) secured?
eRadix is well secured, although it has been mathematically proven that, it is impossible to perfectly guarantee safety and liveness at the same time under all conditions. However, a well-designed network limit puts the above rule into jeopardy as it has its providing strong Sybil attack resistance.
How do I buy eRadix (EXRD)?
eRadix can be purchased through the following method listed below.
The tokens are available across several exchanges and can be easily purchased by the following steps.
- Open an account with the crypto trading platform.
- Transfer the specific amount of your fiat currency to your account.
- Wait for your deposit to be confirmed and Buy EXRD through your trading account.
Which Cryptocurrency Wallet Supports eRadix (EXRD)?
The PTPWallet platform supports many cryptocurrencies simultaneously such as eRadix. Because of its vast use case, it has grown to become one of the most used platforms as it serves as an exchange and an engine to discover other cryptocurrencies. Additionally, users can easily use PTPWallet as their eRadix wallet because offers a simple and interactive interface making it easy for people to navigate its system.
