What is e-Radix?
e-Radix (eXRD) is a cryptocurrency that was launched in November 2020 by the Radix project. The Radix project is an ecosystem developed by the Radix team on the Ethereum platform, and it comprises multiple phases of Radix's utility. The project includes Radix as a software, a protocol, a network, and a ledger.
Radix as a software includes three different softwares launched by the Radix team, which include Radix node software, Radix Explorer, and Radix desktop wallet. All three can be used by participants within the Radix ecosystem to participate and transact within the Radix ecosystem.
Radix as a protocol is a set of guidelines that controls and provides directives to validators' nodes that run Radix's node software. The protocol is backed by Radix Engine, an application layer that can run smart contracts, and Cerberus, a consensus protocol mechanism particularly developed for Radix blockchain. This allows the Radix protocol to act as layer 1 protocol that can support and serve DeFi.
Radix as a network is a public network functioning on the Radix protocol to develop a platform that can support users, DApps (decentralized applications), and DeFi (decentralized finance).
Radix as a ledger functions using a permissionless and immutable ledger, ensuring that transactions on the Radix blockchain are irreversible in nature. These utilities of Radix make up the ecosystem of the Radix project, which signifies a decentralized network that can help developers build their DeFi platforms with better security and scalability while protecting DeFi from hacks and exploitation.
To ensure the project can operate smoothly and ensure transactions within the project can be performed, Radix introduced its cryptocurrency, the Radix token (XRD). XRD is the native utility token of Radix and facilitates all operations within the Radix ecosystem. The token is used for staking, collecting fees, trading, and exchanging products and services within the Radix ecosystem.
To support transactions on the Ethereum blockchain, Radix introduced another cryptocurrency, the e-Radix token (eXRD). eXRD is the Ethereum-wrapped version of the XRD token on the Ethereum network, represented as an ERC20 token. The cryptocurrency eXRD acts as a common link between the Radix project.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
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