Radix is a layer 1 smart contract platform that started from the problem of how to decentralize the $400 trillion global financial system and worked backwards from that objective.
After more than nine years of research, testing, and development, Radix is poised to take the world of DeFi by storm with Scrypto, its intuitive asset-oriented programming language; Radix Engine, the world’s first programmable “DeFi Engine”; and Cerberus, a consensus algorithm that provides atomic composability with linear scalability.
## What Is e-Radix (EXRD)?
The E-RADIX token is the wrapped representation of XRD on Ethereum, with ticker eXRD.
eXRD serves as a permanent link between the Radix and Ethereum networks, and it can be exchanged 1:1 with XRD, via Instabridge or via exchanges.
eXRD was instantiated in November 2020 on the Ethereum network, as an ERC20 token, under contract: 0x6468e79A80C0eaB0F9A2B574c8d5bC374Af59414.
eXRD will never expire, so there will never be a cutoff for swapping between eXRD and XRD.
Because eXRD and XRD are exchangeable 1:1, arbitrageurs might be expected to keep the price of the two tokens at parity.
**Purpose**
In the same way that wBTC allows for a representation of Bitcoin to be used in Ethereum’s DeFi ecosystem, eXRD allows for a representation of Radix’s XRD token to be used in Ethereum’s DeFi ecosystem.
eXRD was issued prior to XRD as a means of distributing tokens as widely as possible prior to staking commencing as part of Radix’s Delegated Proof of Stake system. This served as a means of further decentralizing the Radix Public Network
**Supply & Allocation**
Each eXRD is backed 1:1 by an XRD held at a secure third-party custodian, as part of the Instabridge service.
As a wrapped form of XRD, eXRD has a maximum possible supply identical to XRD’s since this is the maximum number of XRD that can ever be wrapped into eXRD form.
The total supply of eXRD is fluid as users unwrap eXRD tokens to XRD, and wrap XRD to eXRD.
## 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” release, that brings production smart contracts written in Scrypto onto mainnet, is scheduled to go live in the first half of 2023.
## 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.
A unique virtual machine Radix Engine (the world’s first “DeFi Engine”) that promises to do for DeFi what game engines did for games development.
A unique consensus algorithm, Cerberus, that “braids” consensus across a massive “shardspace”. With every transaction being cross-shard and atomic, this is what gives Cerberus its unique combination of atomic composability with linear scalability.