A new layer for the internet
Radix describes itself as a new layer for the internet, where data, money, and other assets can be transacted quickly and easily. It was created as an alternative solution to blockchains and the issues they present, including lack of scalability and high risk of centralization.
As a decentralized layer technology, it does not have a blockchain. Instead, it uses a new structure, dubbed ‘Tempo, and a consensus mechanism that allows it to create a secure and scalable system for distributed storage and data access.
There are two main pillars on which the network is governed:
- Linear scalability: by cutting up the input structure of the platform into 18.4 quintillion shards, the team behind the project was able to more easily index data.
- Decentralization: by creating a permissionless consensus system that can be used in small and large networks, called the passage of logical time, centralization issues were solved. The network only applies consensus to conflicted events allowing more efficiency and scalability.
Radix can run on almost any device since it is API driven allowing for an endless number of devices from TVs to smartphones to be able to connect to the network.
On June 12, at 9:30 AM Eastern Time, Radix replayed the entire 10 years of Bitcoin’s transaction history on its ledger, with the full transaction and signature validation, on a network of over 1,000 nodes distributed evenly throughout the world.
Radix announced on Twitter they achieved 1,089,887 transactions per second during the test.