What is Radix (XRD)?
Radix is a Layer 1 decentralized finance (DeFi) solution that offers a custom-built programming language to address the issues of traditional DeFi protocols. This network provides developers with an environment in which they can rapidly create projects without any fear of exploitation or hacking, and where all improvements made are rewarded. In essence, Radix combines security, scalability, and composability into a DeFi-focused execution environment.
Radix comes with its own BFT-style consensus mechanism – Cerberus, an exclusive execution environment – Radix Engine, and a specific programming language for developing smart contracts – Scrypto. Besides, it has its own token called XRD. If you're curious to see the current XRD price, take a look at the Radix price chart above.
Use Cases of XRD Tokens
The XRD crypto asset is the exclusive cryptocurrency of the Radix Ecosystem. For starters, it can be used for staking to enhance security on the network through the Delegated Proof-of-Stake consensus mechanism employed by the network. The more XRD coins are staked, the higher the level of security. Besides, stakers are compensated in XRD tokens for securing the network.
Apart from staking, XRD tokens are also used as the only means of payment within the network. This means that all Radix fees can only be covered using XRD coins.
Who Founded Radix?
In 2013, Dan Hughes, a seasoned technology and software developer with experience in game development, created Radix. Though, at first, the project was known as eMunie.
Later, in 2017, Piers Ridyard joined the leading Radix team. As the CEO of Radix, Ridyard brings his extensive knowledge of blockchain solutions to the table, while Hughes leads a team of diverse professionals who are all knowledgeable in their respective fields.
XRD Tokenomics
The max supply of XRD is 24 billion tokens. Out of that supply, 10% was reserved for stablecoin reserves to maintain XRD price stability, 2.5% for network subsidy, 2.7% for the token sale, 50% for network emission (as incentives to developers), 0.8% as liquidity rewards, 9.0% for the Radix foundation, 12.5% for the Radix community, and 10% for the founders.
Don’t forget that you can check the live XRD price on the Radix price chart mentioned before.
