Radix

Halal Rating :
Comfortable
Last Price $0.016 Last updated:
Rank 339
1D Change -7.30 %
Market Cap $174.62m
Circulating supply 10,647,382,317
Maximum supply None

Crypto Overview

Categories
  • Layer 1

Purpose and Utility

Radix (XRD) is a layer-1 blockchain platform specifically designed for DeFi applications. The XRD token serves as the native currency of the Radix network, used for transaction fees, staking, and network security through its Proof-of-Stake consensus mechanism.

Technology and Development

Radix implements a unique 'Component Catalog' that allows developers to build DeFi applications using pre-audited building blocks. The platform utilizes Cerberus, a consensus protocol that enables parallel processing of transactions for improved scalability.

Current Usage and Adoption

The Babylon mainnet launch in 2023 marked a significant milestone, introducing smart contract functionality. The ecosystem currently supports various DeFi applications, with developers actively building on the platform. The network maintains active validator nodes participating in consensus.

Token Distribution and Governance

The token distribution includes allocations for the Radix Foundation, team members, and public sale participants. Vesting schedules are in place for team and foundation tokens. The project maintains transparency regarding token economics and distribution.

Development Activity

Regular updates and improvements to the protocol demonstrate ongoing development effort. The project maintains active GitHub repositories and documentation. The development team regularly communicates progress through official channels.

Business Model Assessment

The core functionality of Radix focuses on providing infrastructure for decentralized finance applications. While some DeFi applications built on Radix may involve interest-bearing activities, the base layer protocol itself primarily facilitates secure transaction processing and smart contract execution.

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