Radix publishes White Paper introducing four core technologies to prepare DeFi for mass adoption, including a first-of-its kind developer incentive program
Radix announced the launch of the first layer-one protocol for decentralized finance. Radix is made up of four breakthrough technologies: Cerberus, a high-speed network consensus mechanism; Radix Engine, a purpose-built development environment for building DeFi applications; Component Catalog, a library of DeFi building blocks; and Developer Royalties, a first-of-its kind decentralized incentive program. These core technologies were developed to prepare DeFi for mass adoption, and are detailed further in a new White Paper published by Radix.
Traditional financial systems require many layers of intermediation and manual processes, costing an estimated .05% of the global GDP, or or $71 billion annually. While decentralized finance removes the need for intermediaries, today’s DeFi applications are built on blockchain protocols that were not designed to meet the requirements of mainstream adoption.
Radix changes this by introducing a platform with fast, low-cost, secure transactions, a development environment focused on enabling safe and flexible management of user assets, and a smart contract marketplace designed to create a vibrant developer ecosystem.
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The Radix Engine is a development environment designed specifically for the creation of logic that defines predictable, correct results on-ledger in response to requests. This form of DLT programmability is based on Finite State Machines, a class of solution that is common in mission-critical embedded systems where predictable correctness is the top priority. To make clear the distinction from typical Ethereum-style smart contracts, Radix Engine smart contracts are called Components.
Building on the Radix Engine’s foundation, the Component Catalog offers a decentralized, on-ledger hub for developers to create, share, extend, and combine modular Components to accelerate Dapp builds. Together, these tools make Radix the most powerful, user-friendly and interoperable platform for DeFi.
