The original idea of decentralization grows weaker as developers expand cryptocurrency to reach its maximum potentials. In the past 4 months, DeFi has been dominating the blockchain market, and it shows strong prospects to completely revolutionize the current economic system.
Since its inception, DeFi has enabled users to experience;
1. More Decentralization; which means users will have the opportunity to enjoy better autonomy, as the need for third party or intermediaries will be eliminated.
2. Transparency, i.e. decentralized economic facilities are open to various entities, unlike the centralized ones.
The most important problem of blockchain is ‘Scalability’
Scalability remains one of the most important problems in blockchain technology and has been the focus of both academic researchers and industry practitioners since the birth of Bitcoin. The importance of achieving this milestone will impact the cryptocurrency ecosystem as users will be able to carry out high TPS (Transaction per second). With this problem in view the Radix DLT — The Decentralized Finance Protocol was created.
What are DApps?
Enterprise applications are known to require the implementation of data centers and servers which are used in the data collation, storage and processing of client requests.
Unlike the ideal centralized system used for the various kinds of enterprise application, DApps or Decentralized Applications are applications that are developed to run without the availability of a centralized infrastructure, they are built to be executed without any point of failure.
The DApps architecture is a factor that influences its property. These properties help in categorizing the DApps into 3 types;
-Protocol-level DApps
-Client-side DApps
-Smart Contract based DApps
How do DApps appreciate Radix?
In general terms, Radix DLT — The Decentralized Finance Protocol builds a layer-1 protocol specifically made to suit Decentralized finance (DeFi) projects. Radix DLT — The Decentralized Finance Protocol meets the throughput needs of any number of DeFi apps (or DApps) by using sharding (Cerberus sharded consensus protocol) to process linear scalability.
While other proposed protocols that provided better scalability either completely broke composability by splitting the individual applications, or they provided limited composability to selected applications. The Cerberus sharded consensus protocol stands out to be the last standing solution that offers the scalability required by DeFi, while unlimited atomic composability is maintained.
DeFi Applications on Radix
“[Mainstream decentralized finance adoption can take place] when developers are finally given the tools they need to build apps that can surpass the services offered by the traditional financial industry. It happens when users of those apps wonder why they ever put up with the old way. Mainstream DeFi will move far beyond $4 billion and [will] begin to absorb the $111 trillion waiting to be deployed onto the public ledger. Mainstream DeFi is the future we built Radix for.” — Radix Team
With Cerberus serving as scalable consensus protocol and improving the speed of DeFi transactions by running simultaneously, and the Radix DLT — The Decentralized Finance Protocol ledger working as an interface that enables public ledger deployments.
Radix DLT — The Decentralized Finance Protocol also has a Developer Royalty and a Component Catalog which are used to enable developers make contributions to components as they wish, and for the creation, distribution, and proportioning of the DeFi modular components respectively.
Conclusively, Radix DLT — The Decentralized Finance Protocol proves to be the only ideal solution to the issues developers face in building DApps.
To get more insight on Radix DLT — The Decentralized Finance Protocol, Visit:
Website: https://www.radixdlt.com/
Facebook: https://www.facebook.com/RadixDLT/
Twitter: https://twitter.com/RadixDLT
GitHub: https://github.com/radixdlt
Telegram: https://t.me/radix_dlt
Discord: https://discord.com/invite/6M4gD8B
Medium: https://medium.com/@radixdlt
Reddit: https://www.reddit.com/r/Radix/
