Radix can refer to a few different things, depending on context:
- Radix as software: Radix can refer to the Radix Node software, Radix Desktop Wallet, and Radix Explorer.
- Radix as a protocol: Radix can refer to the Radix Protocol, which is the set of rules that governs validator nodes running Radix Node software. The Radix Protocol is formed of the Radix Engine as its application layer and Cerberus as its consensus layer. It is the first layer 1 protocol specifically built to serve DeFi.
- Radix as a network: The Radix Protocol running on validator nodes forms the basis of the Radix Public Network – a fully decentralized platform for DeFi dApps and users.
- Radix as a ledger: The decentralized Radix Public Network maintains the public, immutable and permissionless Radix Ledger.
- Radix as a project: Radix can refer to the decentralized project being undertaken by the Radix Community, core developer RDX Works, Radix Foundation, and Radix Tokens (Jersey).
- Radix as an ecosystem: All of the above, including a decentralized community of users, developers, node-runners, and XRD token holders; dApps, partners, and ancillary services, forms the totality of the Radix ecosystem.
Why build all this?
Decentralized finance applications are currently built on layer 1 protocols that are not fit for purpose. This leads to congestion, hacks, and user and developer frustration. Radix changes this by introducing a scalable, secure-by-design, and composable platform with a DeFi-centric execution environment to make it easy to build and launch scalable DeFi products and services.
This means that Radix will be the only decentralized network where developers will be able to build quickly without the constant threat of exploits and hacks, where every improvement will get rewarded, and where scale will never be a bottleneck.
Radix will deliver on this vision across a sequence of public network releases that will start with core decentralization (Olympia release), then move on to developer features necessary to create an active community of builders and applications (Alexandria and Babylon releases), and finally, provide the unlimited scalability those applications will need (Xi’an release). See here for more: What is the Radix roadmap?
For more details on the purpose of Radix, see: What is the purpose of Radix?