Radix XRD / Radix

What Is Radix (XRD)?

Radix is a layer 1 smart contract platform built to create a Web3 future for everyone, not just the innovators here today. A future where our friends, family and colleagues can confidently participate. After 10 years of research, testing and development, Radix has built a highly optimized stack of custom technologies that tightly integrates wallet, programming language, execution environment, and consensus algorithm. Users, with the Radix Wallet, can confidently use Web3 and DeFi with human-readable transactions, transaction guarantees, native assets, and more. Developers, with Radix's Scrypto programming language, can build secure, production-ready dApps in a fraction of the time.

Who Are the Founders of Radix?

Dan Hughes, based in the UK, discovered Bitcoin in 2012. With his background in developing telecommunications technology, he could see the tremendous impact that blockchain could have on global finance and more. Having researched Bitcoin for a year, he started eMunie (later renamed Radix) on Bitcointalk in May 2013.

For the next five years, Dan focused on solving the biggest problem of the day: scalability. He invented and tested multiple consensus architectures, including Blocktrees, Directed Acyclic Graphs (DAGs), Channelled Asynchronous State Trees (CAST), Tempo, and Cerberus.

In 2017 Piers Ridyard joined as CEO, the project was renamed Radix, and funding was raised from Taavet Hinrikus the co-founder of TransferWise; and LocalGlobe, a leading European VC.

The breakthrough of Cerberus in 2020 created the world's first cross-shard atomically composable consensus protocol - capable of providing unlimited linear scalability.

2020 also saw the launch of Radix Tokens (Jersey) Limited, the Jersey (Channels Islands) entity that issued XRD and holds the Radix Foundation treasury. The RTJL CEO is Andrew Jarrett.

In July 2021 the first iteration of the Radix Public Network, “Olympia”, went live.

The game changing DeFi development language, Scrypto, was released in early access form in December 2021.

Radix’s “Babylon” mainnet upgrade went live on September 28 2023, bringing smart contracts written in Scrypto and the Radix Wallet to mainnet. Since then, the Radix ecosystem of dApps has continued to develop, offering innovative new Web3 and DeFi products.

What Makes Radix Unique?

Radix is unique across every level of its technology stack, providing:

A unique asset-oriented programming language, Scrypto, that aims to substantially improve the Web3 and DeFi developer experience by providing assets (tokens) as a native first-class feature of the language.