Radix CEO Piers Ridyard explains how Radix (DLT) aims to disrupt the blockchain

My name is Piers Ridyard I am the CEO of
Radix and I am currently based in London so Radix is a new protocol like Ethereum
or bitcoin that’s a new protocol and it allows you to build decentralized
applications, build own tokens, you can build your own coins, you can build your
own assets so fundamentally it is a decentralized trustless network it will
be running as a public network but the main difference between us and what’s
come before is fundamentally our scalability so what we really wanted to
do was create a protocol that didn’t have an upper boundary to how many
transactions that you could put through it because we were we saw that if you
wanted to create a protocol that everyone could be part of like TCP/IP
right internet runs on TCP/IP and it doesn’t matter how many people are on it
everyone can use it and there’s no barrier to entry so we realized that if
you wanted to create this new protocol for value like you know Ethereum and
bitcoin promise and allow people to then programmatically create their own
applications on that and serve the world from it then you couldn’t have a barrier
to actually in terms of how many transactions you could put through it so
we do that by changing both how we do the architecture and how we do the
consensus at the moment there’s really only two games in town on both sides so
in decentralized ledger technology there is a blockchain architecture and there
is a dagger architecture directed acyclic graph some people call it a
tangle but it’s a dag then on the other side you have proof of work and you have
proof of stake and you then have like delegated proof of work and delegated
proof of stake and proof of authority but they’re all sort of basically the
same concept and we realized that if you wanted to make something truly scalable
you couldn’t start off with a vertical architecture like a dag like a
blockchain and make it horizontal you had to start with a horizontal
architecture and a consensus mechanism that worked across that natively without
rather than going here’s our here’s a vertical architecture here’s our
consensus mechanism on that vertical architecture
now we’re going to try and make it horizontal and then you get all these
problems that you’re already seeing we’re trying to shard blockchains and
that just really struggle to create this totally unbounded scalability that’s
really necessary to allow everyone onto the protocol. So you said you’d said this
main issue is scalability so how are you tackling that in the way that nobody
else is, what is it that you’re offering? So what we’re offering is the
ability to do many many more transactions per second and indeed we do
that in an unbounded fashion so that means that every node that is added to
the network increases the total throughput of the network so you can you
add nodes you add the ability to put more transactions through the network so
we’ve already started on our live test net now we’re doing 10,000 transactions
per second that’s only across ten nodes that are
fairly standard server based hardware right and as we increase those nodes we
can increase the total throughput and we’re going to be doing that over the
next few months. So what stage are you at? So we’ve got a test net up we are in the process of moving our test
code to production code and we expect to be launching the full public network in
either quarter two or quarter three of this year. And who are your main competitors
just the existing people or their other people trying to develop things at the
same rate that you are? That’s a really difficult question to answer in the in
the market as it is now because there are a lot of people coming out claiming
a lot of things and it’s and actually who will win is a combination of two
things one is better technology but other is also developer mindshare and
people who want to build on your platform so our main competitors are
people like Ethereum who people know developers are building things on people
are making successful applications on top of it they building ERC 20 tokens
and so getting that mindshare is really difficult and then on the other side
there’s also these new protocols that are coming along who are claiming this
massively higher scalability so you’ve got people claiming hundreds of
thousands millions of transactions per second no one’s actually come out and
proved their technology yet but those could be
competitors but we don’t know we don’t know if it’s safe or where it’s real at
this stage so it’s difficult it’s very noisy market at the moments a lot of fun
to be in but we’re just right now it’s just heads down proving the technology
continuing to deliver it to the community and saying look here is actual
benchmarks, here is in the short distant in the near future here’s an actual node
you can download and you can run you can try for yourself and we think that that
really is where we’re going to win is by demonstrating continually demonstrating
and delivery the technology

3 thoughts on “Radix CEO Piers Ridyard explains how Radix (DLT) aims to disrupt the blockchain”

  1. If it’s not open source and truly decentralized, it’s just another xrp 2.0 like thing… I don’t see it overtaking bitcoin.

Leave a Reply

Your email address will not be published. Required fields are marked *