e-Radix PriceEXRD

What is e-Radix (EXRD)?

e-Radix (EXRD) is the wrapped representation of Radix's native XRD token on the Ethereum network, launched in 2020 as an ERC20 token. It forms part of the broader Radix ecosystem, a layer 1 smart contract platform designed to address the challenge of decentralizing the global financial system. Radix is built around a highly optimized technology stack that integrates wallet functionality, the Scrypto programming language, an execution environment, and the Cerberus consensus algorithm. The eXRD token serves as a permanent link between the Radix and Ethereum networks and can be exchanged 1:1 with XRD. As a wrapped form of XRD, eXRD has a maximum possible supply identical to XRD's, with a maximum supply of 24 billion tokens. The project has progressed through several major milestones, including the Olympia mainnet launch in July 2021 and the Babylon upgrade in September 2023, which brought Scrypto smart contracts and the Radix Wallet to mainnet.

Key Specifications & Tokenomics

• Name: e-Radix
• Ticker / Symbol: EXRD (also styled as eXRD)
• Blockchain / Platform: Ethereum (ERC20 token)
• Contract Address (Ethereum): 0x6468e79A80C0eaB0F9A2B574c8d5bC374Af59414
• Consensus: BFT-style consensus algorithm called Cerberus
• Category: Layer 1, Platform
• Max Supply: 24,000,000,000 EXRD
• Circulating Supply: Approximately 660 million EXRD
• Launch Date: November 2020
• Official Website: https://www.radixdlt.com/
• Whitepaper: https://www.radixdlt.com/whitepapers/defi
• Block Explorer: https://etherscan.io/token/0x6468e79a80c0eab0f9a2b574c8d5bc374af59414
• CertiK Rating: 4.2

Who created e-Radix?

Radix was founded by Dan Hughes, who serves as Founder and CTO. Based in the United Kingdom, Dan Hughes discovered Bitcoin in 2012 and, drawing on his background in telecommunications technology, recognized blockchain's potential impact on global finance. After researching Bitcoin for a year, he started eMunie, later renamed Radix, on Bitcointalk in May 2013. Over the following five years, he focused on solving scalability challenges and invented and tested multiple consensus architectures, including Blocktrees, Directed Acyclic Graphs (DAGs), Channelled Asynchronous State Trees (CAST), Tempo, and Cerberus. Piers Ridyard joined as CEO in 2017, when the project was renamed Radix. Adam Simmons serves as Head of Strategy, and Andrew Jarrett is CEO of Radix Tokens (Jersey) Limited (RTJL). In 2017, funding was raised from Taavet Hinrikus, co-founder of TransferWise, and LocalGlobe, a leading European venture capital firm.

How does e-Radix work?

e-Radix operates as an ERC20 token on the Ethereum network, functioning as a wrapped representation of Radix's XRD token. In the same way that wBTC allows for a representation of Bitcoin to be used in Ethereum's DeFi ecosystem, eXRD allows for a representation of XRD to be used in Ethereum's DeFi ecosystem. Each eXRD is backed 1:1 by an XRD held at a secure third-party custodian as part of the Instabridge service. Users can exchange eXRD and XRD 1:1 via Instabridge, and eXRD will never expire, meaning there will never be a cutoff for swapping between the two tokens. Because eXRD and XRD are exchangeable 1:1, arbitrageurs might be expected to keep the price of the two tokens at parity. The total supply of eXRD is fluid, as users unwrap eXRD tokens to XRD and wrap XRD to eXRD. The Radix protocol itself uses the Cerberus consensus algorithm, a BFT-style consensus that took seven years of research starting in 2013 and culminated in the Cerberus Whitepaper. The breakthrough of Cerberus in 2020 created the world's first cross-shard atomically composable consensus protocol, capable of providing unlimited linear scalability.

What makes e-Radix unique and valuable?

e-Radix derives its unique value from its role as a permanent, non-expiring bridge between the Radix and Ethereum networks. Unlike many wrapped tokens that may have expiration or redemption cutoffs, eXRD can be exchanged 1:1 with XRD indefinitely. This creates a durable link that allows holders to access Ethereum's DeFi ecosystem while maintaining exposure to the Radix protocol. The Radix platform itself represents over ten years of research, testing, and development, resulting in a tightly integrated stack of custom technologies covering wallet, programming language, execution environment, and consensus. The Cerberus consensus protocol provides unlimited linear scalability through cross-shard atomic composability, a notable technical achievement. Additionally, the Radix Wallet offers human-readable transactions and transaction guarantees, while the Scrypto programming language enables developers to build secure, production-ready dApps more efficiently. eXRD was issued prior to XRD as a means of distributing tokens as widely as possible before staking commenced, further decentralizing the Radix Public Network.

What is e-Radix used for?

eXRD serves as a medium of exchange on the Radix network and as a representation of Radix's XRD token usable in Ethereum's DeFi ecosystem. Its primary utility is enabling holders to participate in Ethereum-based DeFi applications while maintaining a 1:1 backed connection to the Radix protocol. eXRD can be exchanged 1:1 with XRD via Instabridge or at exchanges such as Bitfinex. The token also serves as a permanent link between the Radix and Ethereum networks, allowing for arbitrage opportunities that help keep the prices of eXRD and XRD at parity. Because eXRD was issued before XRD, it played a role in distributing tokens widely prior to the commencement of staking as part of Radix's Delegated Proof of Stake system. This distribution mechanism served as a means of further decentralizing the Radix Public Network. Holders can use eXRD to access DeFi products while retaining the ability to unwrap their tokens into XRD at any time without expiration.

How Is the e-Radix ecosystem developing?

The Radix ecosystem has continued to develop since the Babylon mainnet upgrade went live on September 28, 2023, which brought smart contracts written in Scrypto and the Radix Wallet to mainnet. The ecosystem offers innovative Web3 and DeFi products, supported by core components including the Radix Wallet, which allows users to confidently use Web3 and DeFi with human-readable transactions, transaction guarantees, and native assets. Scrypto, Radix's programming language, enables developers to build secure, production-ready dApps in a fraction of the time, and was released in early access form in December 2021. Instabridge provides the service through which eXRD and XRD can be exchanged 1:1. Radix Tokens (Jersey) Limited (RTJL) is the Jersey entity that issued XRD and holds the Radix Foundation treasury. The first iteration of the Radix Public Network, Olympia, went live in July 2021. The project's tags on CoinMarketCap include Layer 1, DWF Labs Portfolio, and Platform.

How to mine e-Radix?

e-Radix is not mined through traditional proof-of-work mining. Instead, the Radix protocol uses a Delegated Proof of Stake (DPoS) system. eXRD was issued prior to XRD as a means of distributing tokens as widely as possible prior to staking commencing as part of Radix's Delegated Proof of Stake system. This distribution approach served as a means of further decentralizing the Radix Public Network. Token holders can participate in staking through validators on the Radix network, as referenced in the Staking & Validating on Radix documentation. Because eXRD is a wrapped representation of XRD on Ethereum, the underlying staking and validation activities occur on the Radix protocol itself. Users who wish to participate in staking would need to hold XRD on the Radix network rather than eXRD on Ethereum, though the 1:1 exchange via Instabridge allows for conversion between the two forms without expiration.

How to keep your e-Radix Coin safe?

Keeping eXRD safe begins with understanding that it is an ERC20 token on the Ethereum network, which means it can be stored in any wallet that supports Ethereum-based tokens. Users should ensure they control their private keys and consider using hardware wallets for enhanced security. Because eXRD can be exchanged 1:1 with XRD via Instabridge, holders should verify they are interacting with the official Instabridge service when wrapping or unwrapping tokens. The contract address for eXRD on Ethereum is 0x6468e79A80C0eaB0F9A2B574c8d5bC374Af59414, and users should always confirm they are interacting with the correct contract. The Radix Wallet provides human-readable transactions and transaction guarantees, which can help users verify transaction details before confirming. General security practices apply, including being cautious of phishing attempts, avoiding sharing private keys or seed phrases, and using official sources for downloading wallets and accessing services. The Radix Knowledge Base and official website at https://www.radixdlt.com/ provide additional resources for users.