Radix Protocol is a Layer-1 decentralized finance (DeFi) project. It aims to reduce the friction and difficulties of traditional finance by allowing applications to be built on top of its protocol. Additionally, Radix seeks to solve the issues is smart contract hacks, lack of interoperability, and scalability problems faced by DeFi. It also more generally hopes to broaden the types of users of blockchain technology with its protocol.

Radix Protocol has a designed innovative technology including a new consensus mechanism, Cerberus, the Radix Engine development environment, and DeFi “Lego Bricks” for making it easier to build interoperable decentralized applications.

XRD is the platform’s native cryptocurrency. It has a maximum supply of 24,000,000,000 XRD. The XRD token is neeeded for staking, accessing DeFi on the protocol, deploying smart contracts, and for paying transaction fees.

What are Radix Protocol’s key features and how does it work?

In more detail, the Radix Engine operates as an application layer, equivalent to that of Ethereum’s Ethereum Virtual Machine (EVM). It runs smart contracts, otherwise known as Components within the Radix ecosystem, that are capable of modelling real-world financial systems.

The Radix Engine works together with Radix’s consensus layer, Cerberus. In short, it enables scalability by facilitating atomatic composing of transactions across shards. Atomicity means technology ensures that all information about transactions is correct at the time of validation. Composability facilitates dApps to seamlessly interoperate with each other.

Atomic Composability thus allows applications to interoperate and be combined atomically thanks to a single transaction. It uses a set of nodes that validate and secure the network, as more nodes are added the throughput increases linearly as the consensus process is parallelized across shards.

The Radix Component Catalog is built to accelerate the creation of new decentralized applications. Code of a Component or smart contract, built on Radix automatically gets added to the Component Catalog functioning like a template or blueprint. This allows developers to use and develop upon Components that have already been created.

Radix Protocol also has a comprehensive self-incentivization plan. This includes developer royalties and rewards for node operators and validators.

What can Radix Protocol be used for?

Radix Protocol can be used to built a range of DeFi applications, this could include DEXs, Portfolio Management applications, gaming, wallets and dashboards. It also has in-built functionality for NFTs and stablecoins.

Where can you buy XRD?

XRD is available for trading on the following CEXs and DEXs listed here. The most popular platforms with the highest liquidity are MEXC Global, Gate.io, and AscendEX. The price of XRD will vary depending on the choice of exchange and overall market conditions. For up-to-date and historic data for XRD market prices, please view the price charts on this page.