The core of what makes Radix Engine different is the use of well-structured finite state machines (FSMs) to manage tokens and other assets, called resources. Resources are governed by platform-level rules that give tokens on Radix “physical-like” behavior. Just like how a physical coin can’t disappear into thin air, Radix Engine guarantees tokens can never be lost or drained, providing a predictable, easy-to-use set of essential building blocks that take a smart contract developer up to 90% of their time to implement and test on other networks. Tokens on Radix are created or transferred via native function calls of the Radix platform, and the rules surrounding them are inherently understood by the system. This significantly relieves the burden on developers and frees them to focus on creating secure, predictable financial applications that manage millions of dollars in often highly complex DeFi transactions.
Radix Engine v1 and Radix Engine v2
The first iteration of Radix Engine, Radix Engine v1, was released as part of the Radix Olympia mainnet in July 2021. See the following article for the capabilities of REv1: What can I do on the Olympia mainnet? Here, Radix Engine’s FSM approach is “hard-coded” into the protocol to provide easy issuance and transactions of both XRD tokens and any tokens created by a third party, using a simple API call rather than custom smart contract logic (like an ERC20 contract).
The second iteration of Radix Engine, Radix Engine v2, will bring true “smart contract” programmability to the Radix Engine approach for developers. Developers will access the power of Radix Engine’s asset-oriented, FSM-based approach to financial assets and dApps through our own language, called Scrypto. Scrypto allows the rapid creation of a full range of DeFi applications, assets, and functionality while relieving the developer of the tremendous risks and complexities of a lot of typical smart contract development today.
REv2 was first made available for developer experimentation in local environments as part of the Radix Alexandria release, which launched December 2021. If you’re a developer and are interested in creating your own Blueprint or Component, you can check out the developer landing page to get started on all things Scrypto.
Various iterations of Scrypto, including dApps on the Babylon Alphanet and Betanet, will roll out over the course of 2022 which you can read about in more detail in our roadmap here. On-ledger deployment of Scrypto-based Components and Blueprints (our form of smart contracts) – as well as associated features such as the Blueprint Catalog and Radix Developer Royalties will launch as part of the Radix Babylon release.
- you can join the Radix Developer Program here.
- or to get started building with Scrypto you can check out our technical docs here.
- Developer Landing Page
- Radix Tech Docs
- Radix DeFi Whitepaper
- Radix Blog - What is the Radix Engine V2?
- Radix Blog - Radix Engine and Components: Reduce DeFi Hacks, Exploits & Failures
- What is Scrypto?
- What are Components, Blueprints, and the Blueprint Catalog?
- What is the Radix Developer Royalties System?
- What is the Radix roadmap?