What is Radix?
Radix is the first layer 1 protocol built specifically for the DeFi industry.
Existing dApps on protocols are not suitable for their original purpose, leading to bottlenecks, attacks, and developer frustration. Radix changed this by introducing a scalable, secure platform by design that can be combined with a specific DeFi build environment to easily build and launch dApps.
That is done by:
- Modernize the consensus mechanism used in popular blockchain networks.
- Use a decentralized virtual machine system.
- Code activation in Ledger (ledger)
- Build DeFi-related components and applications.
- Incentivize developers to drive growth in the new financial model.
Radix empowers developers by building highly reliable Smart Contacts, fast and compatible dApps, engaging with developer community rewards programs, and ensuring availability DeFi aggregation on a large scale.
Cerberus consensus mechanism
At the heart of the protocol is Cerberus. This is a modernized consensus mechanism that uses a fragmented Byzantine fault tolerance (BFT) solution. This approach allows parallelization of the system across multiple nodes without reducing inbound message complexity and response speed. With Cerberus, transactions on Radix will be processed faster with much lower fees than Ethereum.
This is an important factor for DeFi's scalability if it is to achieve widespread user adoption. Furthermore, as the number of nodes in the entire network increases, the network throughput also increases. This is made possible thanks to the Radix Engine.
This is an environment for developers that reduces the risk of Smart Contract attacks and exploits. In addition, Radix Engine also acts as a "self-incentive developer ecosystem" and is completely decentralized to promote community development based on appropriate tools.
The Radix Engine derives its programmability from Finite State Machines (FSMs) and is commonly used in mission-critical systems that require predictability, accuracy at all times. The Smart Contracts that the Radix tool creates are named Components.
Component operation is more intuitive than Ethereum-based Smart Contract. They assist in producing consistent, reliable and predictable results. Moreover, Components also act as DeFi Legos, so they can be easily integrated into other applications.
Creating Components will be possible through a programming language for the cryptocurrency sector.