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Radix
About Radix
RADIX token (XRD) is the native token of the Radix Public Network, used for staking to secure the network through Delegated Proof of Stake (DPoS) and paying for transaction fees. XRD holders can vote on validator nodes by delegating tokens to them and earn network emission rewards. The top 100 validators with the most delegated stake are selected as the validator set, but this limit is expected to be removed in the future. Transaction fees are paid in XRD, and 100% of the fees are burnt by the Radix Protocol to prevent spam transactions across the network.
Radix (XRD) is the native token of the Radix Public Network. It was initially launched in July 2021. XRD plays a crucial role in the network's Delegated Proof of Stake (DPoS) system, which uses XRD to protect the Radix Public Network from Sybil attacks. In this system, XRD token holders vote on which validator nodes they want to participate in consensus by delegating tokens to them, a process known as "staking". The stakers are incentivized to do this by earning network emission rewards. In addition to staking, XRD is also used to pay transaction fees on the Radix Public Network, with all transaction fees being burnt or destroyed by the Radix Protocol. Besides these primary uses, XRD can also be used by any dApp within the Radix DeFi ecosystem, for instance, as collateral in a lending protocol, or as an intermediary facilitating exchange between other tokens.
Radix was created by Dan Hughes, who is the current CTO and Head of Engineering. He is an experienced developer in the blockchain field, with his involvement dating back to 2011.