Radix Protocol is a Layer-1 decentralized finance (DeFi) network. Its goal is to lessen the friction of traditional finance by letting developers build applications directly on top of its protocol. It also targets challenges common in DeFi, including problems caused by smart contract hacks, limited interoperability, and scalability constraints. More broadly, Radix Protocol aims to widen who can use blockchain technology through its platform.

Radix Protocol features a set of novel technologies, such as a new consensus mechanism called Cerberus, the Radix Engine development environment, and DeFi “Lego Bricks” designed to make it simpler to create interoperable decentralized applications.

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

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

More specifically, the Radix Engine functions as an application layer similar to the Ethereum Virtual Machine (EVM) on Ethereum. It executes smart contracts-referred to as Components in the Radix ecosystem-that can represent real-world financial systems.

The Radix Engine is designed to work alongside Radix’s consensus layer, Cerberus. In practice, this supports scalability by enabling atomic composition of transactions across shards. Atomicity here means the system keeps transaction information consistent and correct at the time of validation. Composability enables dApps to integrate and interact with one another. 

With Atomic Composability, applications can connect and be put together atomically via a single transaction. The network relies on a group of nodes to validate and secure it; as more nodes join, throughput rises in a roughly linear way because the consensus workload is spread in parallel across shards.

The Radix Component Catalog is intended to speed up the development of new decentralized applications. When code for a Component or smart contract is created on Radix, it is automatically added to the Component Catalog, serving as a reusable template or blueprint. This helps developers build upon Components that already exist.

Radix Protocol also includes a self-sustaining incentive plan, covering developer royalties as well as rewards for node operators and validators.

What can Radix Protocol be used for?

Radix Protocol can be used to create a broad set of DeFi applications, which may include DEXs, Portfolio Management tools, gaming, wallets, and dashboards. It also provides built-in functionality for NFTs and stablecoins.

Where can you buy XRD?

XRD can be traded on the CEXs and DEXs listed here. The most popular venues with the highest liquidity are MEXC Global, Gate.io, and AscendEX. The price of XRD changes depending on the exchange selected and wider market conditions. For the latest and historical XRD market pricing, check the price charts on this page.