Radix: the coming revolution in DeFi that should not be missed!
Radix RDX, the new DeFi protocol that is once again upsetting the established order!
While many blockchains started their ecosystem in the last quarter of 2021, this start of the year is much calmer. While Kadena and Casper should start showing their first apps in the coming weeks, the next few months should be quieter. Despite its lack of visibility, the Radix blockchain should turn things upside down from the end of the year. Ultra fast, surrounded by a community of dynamic developers, there is no doubt that it is able to compete with Solana and Avalanche on these aspects.
- Radix Architecture
- Projects galore
- What outlook for the price of XRD ?
Radix: A Network Built For The Future Of The Cryptosphere
Radix is the result of seven years of research by the Radix Foundation. Indeed, this network wants to solve the various problems encountered by decentralized finance.
For this foundation, only a total resolution of these obstacles will allow the adoption of cryptocurrencies and its decentralized world by the general public. By it’s innovative side, it is difficult to classify Radix. Even if it is part of distributed ledgers and uses Proof of Stake, it is neither a blockchain (like Bitcoin, Ethereum, Solana…) nor a DAG -Directed Acylcic Graph- (like Avalanche or Fantom).
Radix uses Cerberus, a linear scalability that allows atomic composability between all transactions, and therefore unlimited scalability while remaining consistent. It therefore makes it possible to integrate increasingly complex DeFi applications. When it launched his DEX Maïar, we could see the problems encountered by Elrond. The blockchain was slowed down by a single application because no communication between the shards was happening. However, the transactions remain very simple. Compared to Radix, Elrond therefore still has a lot of work to do.
A Tool Built For DeFi
Moving forward in a methodical manner, the Radix Foundation proposes to work on three other axes. To facilitate the work of developers using Scrypto, the network’s own language, Radix offers a programming tool, Radix Engine v2, which limits the risk of bugs and hacks. In addition, this tool will be supplemented by an open source library, the Component Catalog. It will provide access to several lego bricks to build interoperable DeFi applications. Finally, Radix offers an incentive system to bring developers to the network.
Radix’s goal is to avoid the clumsy launches of many blockchains since September. Thus, on Velas, Elrond, Nervos for example we could see only one DEX appear.
Even though it’s an essential piece of an ecosystem, it turned off some users (especially for Velas). If Radix released its Olympia update last December which allows the use of smart contracts in testnet, the mainnet Babylon will not be released until the end of 2022 at the earliest. The goal is to allow developers to build the ecosystem upstream so that everything is finalized upon release for users.
The First Projects On Radix
When you see the different projects that are being built on the network, you can only be amazed by the dynamism of the community. Several NFT projects are being built. For example, a collection of crypto punks, a collection of pandas, a collection of penguins, one of which has sold more than two million… The RadClan and French collections from RacoonCity are intended to be used in the world of gaming. The French community also offers the Radix Collection which is more qualitative than other more automated collections. However, not all of these projects are real NFTs but only JPEGs. Their mint in NFT can only take place at the exit of Babylon.
On the DEX side, several projects are being built, including OciSwap, CerbySwap, Xidar (another French project). For memecoins, Radix is no exception to the rule. We can again mention a token made by French people: DogeCube. I advise you to join their telegram before this weekend. They are doing their last airdrop there and this will allow you to get this token while waiting for the release of the ecosystem.
What Is The Outlook For The Price Of RDX (And The Radix EXRD Token)?
Radix’s token, the XRD, was the subject of an ICO in the fall of 2020. At the moment, just under half of the tokens are in circulation. Its capitalization is 1.2 billion with a price of 0.126. This currency is therefore in terms of capitalization in the first 100 (more precisely around the 70th place).
However, it remains unknown because it is very poorly listed. It is only available on Bitfinex, a little-used exchange. This is why there is a Radix token on Ethereum, the EXRD, available among others on Gate.io and Kucoin. We can therefore expect the price of XRD to rise again during larger listings.
Anyway, everyone who wants to invest in DeFi must invest in Radix. With an ATH 5 times higher than its current price, a bullish rally is more than likely when its Babylon update is released at the end of the year.
Are you waiting for the next nugget in DeFi? Radix is made for you: foolproof scalability, a facilitating environment for developers, a dynamic community, all the ingredients are there to renew the success of Solana and Avalanche. Unfortunately, we will have to wait a few more months before the release of the first applications.