RADIX

💎AMA RECAP WITH RADIX 💎

Admins – Piers from Radix and Blind5ight

Hosts – Manak and Mihir

💥INTRO SEGMENT💥

Manak :

Hey Everyone! We are so glad to have @piersr. sir from Team Radix here with us for today’s session😉

Piers from Radix:

Great to be here

Manak :

Hey there @piersr. sir, so nice to have you here with us today!🔥

Piers from Radix:

Thank you for having me guys

Manak :

Welcome to Crypto Land sir😉

We are so excited to know more and morw about Radix!😍

So let’s not waste any time and dig right deep into it🔥

Shall we @piersr. sir?

Piers from Radix:

Let’s do it

Manak :

Please type done after completion of every answer😉

Piers from Radix:

Cool

Manak :

Starting with the Intro Segment….

Q1) Can you please introduce yourself to the community

Piers from Radix:

Sure, my name is Piers Ridyard, I am the CEO of Radix

I originally got started in crypto back in 2015, when I started mining on the genesis block of Ethereum and then later got involved in the London Ethereum meetup scene. Soon after that I created my first blockchain startup, a company that went through YCombinator in 2017 and then after that sold the company to become CEO of Radix DLT.

Done

Alexiya:

Woah😉 great journey 😍💎

Manak :

Thats a nice and effective intro i must say!

Q2) Please tell us about Radix community in detail?

Piers from Radix:

Radix community?

Sure – we have an awesome community

Manak :

And project as well😉

Piers from Radix:

We have over 12k in our Telegram, 10k in Discord and 25k on Twitter. It is a mix of technology geeks and crypto crusaders. If you want to come and have an in depth convo about economics, technology or future looking ideas for DLTs, definitely come join

For the project itself, Radix is a layer 1 protocol build specifically to serve DeFi. We like to say it is layer 1 DeFi done right. This is because Radix is the only decentralized network where developers will be able to build quickly without the constant threat of exploits and hacks, where every improvement will get rewarded, and where scale will never be a bottleneck.

Done

Manak :

Thats wonderful! Gives us a fair knowledge of Radix😉

Q3) How is Radix community different and better than its competitors?

Piers from Radix:

Community? Because they are smarter, more beautiful, and luckier than any other community? 😆

Manak :

Hehe right sorry i mean both community and project😉

Piers from Radix:

Got it

Alexiya:

So good to hear, hehe😝😉

Piers from Radix:

Radix delivers three critical things that no other crypto project does:

A purpose built DeFi programming environment that will enable fast AND secure development. This means that on Radix DeFi developers can build fast and not break things, unlike on Ethereum where in the last two years there have been over $285m in avoidable hacks and exploits to date.

A system of on-ledger royalties that will reward those that contribute dApp code to the ecosystem. This makes sure the Radix ecosystem rewards everyone that makes it better. This should lead to better code, better tools and ultimately, better applications.
A consensus algorithm that will provide unlimited scalability without breaking DeFi composability. This allows Radix to uniquely provide an environment that can scale DeFi without friction, even when DeFi starts onboarding billions of users and trillions of dollars.

Done

Manak :

That definitely makes you different and better than others😍

Q4) Every project has a final goal which it is aiming to reach. Whats that final goal for Radix ?

Alexiya:

Indeed😍

You guys are awesome 😉

Piers from Radix:

To be the foundational technology for a better, faster and more inclusive global financial system where the user is provided with a universe of opportunities for their money, and developers can compete on a level playing field with their business ideas to a global audience.

We want to do for capital what the internet did for information.

Done

Manak :

Thats a good one!

Here comes the last question from host😉

Q5) Partnerships are extremely important for any project to grow and shine in the sky! So can you tell us some of your recent partnerships and also how do you plan to make it better?

Piers from Radix:

Sure, we have announced that we will be working together with Ren, to provide trustless cross chain asset bridging, Chainlink to provide oracle services and data feeds, Quantstamp to provide security and insurance services, and a number of other great projects, we a few more in the pipe line.

We have also built some pretty important technology ourself, including Instapass, a single sign-on KYC/AML solution for DeFi that will allow DeFi projects to offer both permissionless and regulatory compliant services in the future.

Done

Manak :

You guys are definitely here for a long term!!🔥

Thats a good thing😉

Well with this we came to an end of Segment 1 and are good to proceed to Segment 2 which is Questions from Twitter!🔥🔥

💥TWITTER SEGMENT 💥

Manak :

Shall we proceed @piersr. sir

Piers from Radix:

Absolutely

Let’s do it

Manak :

Here comes the first one😉

First Question from twitter

Radix offers a royalty system to reward those who contribute with the Dapp code in the ecosystem, could you explain in which ways can I contribute? Is the value of these rewards fixed or does it depend on the type of work being done?

From- @tunumia020

Piers from Radix:

Good question.

So the way the royalty system works is pretty flexible. As a developer you first have to create a Blueprint using our special programming language, Scrypto, which has been custom built for DeFi development.

You can think of these Blueprints like a template from which you can make as many types of the same thing that you want to. A simple example of a Blueprint would be a token Blueprint. If you call my Token Blueprint you can specify what type of token you want to mint, and the Blueprint does the hard work.

This is different from what happens on Ethereum, where to mint a token you must submit an entire ERC20 smart contract to the ledger. On Radix, you create the Blueprint and then you can call the Blueprint to make the target functionality you want on the ledger, but specially tailored to your specific need.

These Blueprints allow Developers to create any sort of functionality they want to, and then lets other developers call that functionality – kind of like forking a piece of code on Github.

At the same time as you instantiate your blueprint you can also set things like the royalty fee for use by other developers. This can be whatever you choose it to be.

From this point forward, the costs and profits are determined by the market – if you Blueprint is popular and well priced, then you should make good money, if you Blueprint isn’t popular it won’t make any money. We don’t decide what is popular or what isn’t, nor do we take a % of the fee. It is all about making sure Developers have all the tools they need to co-operate and help each other without us getting in the way.

Done

Manak :

Well thats a 100% fair deal!

Second Question from twitter

Too many projects promise magic but never release any working product or prove any revenue, Within a short/long time of release. Is your project also like this? If not can u tell us, What makes your project different from other projects??

From- @amelie09873

Piers from Radix:

Yep, there are a lot of failed projects throughout the crypto world.

Manak :

Yes thats true☹

Piers from Radix:

Radix is a little different – we are not new to this space: our founder, Dan, has been working on Radix since 2013 and we have survived two full market cycles since then, and coming onto a third. We understand that crypto is both a marathon and a sprint. It is necessary to move quickly to keep up with the market, but it is important that the foundational technology you deliver is extraordinarily good – and that takes time and dedication and focus. Something that Radix has had since the beginning.

This month we will be launching our mainnet, and by the end of the year you will see us release Scrypto, our DeFi programming language that we aim to fundamentally change DeFi programming with.

Done

Manak :

Well with that much experience, you guys can definitely make it perfectly happen😍

Third Question from twitter

Could you explain a little in simple words for those of us who do not have technical knowledge of programming or cryptography how Radix is a solutive measure on a large scale through its components for ETH and product development such as dApps?

From- @HelenMorale1

Piers from Radix:

Sure – tricky, but I’ll give it a go

Manak :

Please go ahead😉

Piers from Radix:

On Radix, we call Smart Contracts “components”

You can think of these components like a box of lego

Each piece of the lego is self contained and strong. This is because components run using the same logic that you find in critical systems like nuclear power stations. This makes them both very secure and VERY fast.

If you wanted to build a dApp you can do so by taking these little lego building blocks and assembling them together to make your application work. This reduces the amount of code that is necessary to build DeFi applications.

Manak :

That makes it a ton easier for new people!

Piers from Radix:

Thats the idea!

Manak :

And definitely a good one!

Piers from Radix:

What is more, these little lego building blocks can be run in parallel, meaning that you can get massively more throughput on Radix for the same type of functionality vs on Ethereum. This makes the entire network more scalable, even before you need to consider the throughput increase with our consensus algorithm.

Done

Manak :

You guys doing a great job!

Forth Question from twitter

Radix says it is the only decentralized network where developers can build quickly without the threat of exploits and hacks. But lately a lot of Cryptocurrencies and blockchain have been taken over by hackers. What security measures do you have in place to prevent hackers?

From-@HelenMorale1

Piers from Radix:

Interesting question

Yea, there have been over $285m in hacks on Ethereum in the last two years

Absolutely crazy

Manak :

Insanely!

Piers from Radix:

A big part of this problem is Solidity, the programming language everyone uses to build smart contracts, and the EVM (Ethereum Virtual Machine) the system that everyone uses to execute smart contracts on top of public networks.

Both of these are massively insecure and inefficient and are a big cause of all of the issues related to hacks and exploits

This is why getting security audited can cost absolutely insane amounts of money in DeFi today.

Manak :

Yeah thats true as well☹

Piers from Radix:

Radix fundamentally changes this by introducing Scrypto, a programming language to make it easy and secure to build DeFi applications. We are focusing on the developer user experience because this is what will make a huge difference to the user experience of building decentralised finance applications and a big reason for mistakes being made at the moment.

Done

Manak :

Great

Fifth question from twitter

Do you have any plans to attract Non-crypto investors to Radix. Because it is the success of a project to get more investors who are still not in the crypto world. What are the plans to increase awareness around your in non-crypto space?

From- @THORGodofthnder

Piers from Radix:

Yes! We think that non-DeFi users are one of the most important customer segments in the world right now – how else is it going to be possible to expand the DeFi market from the size that it is today?!

To this end, we founded the GoodFi alliance, an alliance between Sushi Swap, Aave, mStable, Chainlink, Avalanche and many others. The mission? To get 100m users to put $1 into DeFi by 2025.

We have already launched our website for helping new users to get into DeFi: https://www.goodfi.com/

Over the next few months you will see more members and more content being added, specifically to help newbies get started!

Done

Manak :

Woww interesting!!

Perfect!

Well with this question, we finally came to end of Segment 2 as well😉

And are good to proceed to last Segment which is Live Segment😍

💥LIVE SEGMENT 💥

Manak :

Shall we start the live session sir?

Piers from Radix:

Sure

I’ve got 5 mins

Manak :

Sure lets start is right away!

Rules for live session with Radix are as follows:-

💨Everyone will be given 60 seconds to raise their questions.

💨You must follow the following groups: – –

💥 @radix_dlt

💥 @cryptolandoff1

💥 @cryptolandann

These are the rules😉

Unmuting chats in 3 seconds😉

………………..

Well i have muted chats before time.😊

So @piersr. sir please select and answer best 5 of em😉

Piers from Radix:

Thank you guys – what an incredible amount of questions!

Manak :

@Blind5ight. sir will be answering best 5 questions on behalf of @piersr. sir😉

Piers from Radix:

@Blind5ight is going to step in and help me out here as unfortunately I have to head to my next meeting

Manak :

@Blind5ight. sir we welcome you to Crypto Land🔥

Piers from Radix:

Been fantastic session, thank you to @ManakCl for hosting me

Manak :

Glad to have you sir😍

Blind5ight:

Hey guys, nice to be here

I’m a community mod in the Radix telegram channel

I’ll take over for the live question part

If your Q wasn’t picked you can still join our channel and ask in there 🙂

https://t.me/radix_dlt

Right, let’s get started 🙂

Mihir :

Sure🔥🔥

Robo Rocks:

Currently, Which one most important for you?👇

1) Community.

2) Investors.

3) Token Price

And why?

Blind5ight:

Altho I like the question (isn’t one I’ve seen before)

I do think some important aspects are missing like the technology itself.

Radix is heavily focused on getting their technology rolled out.

Not just fast but also making sure the tech is of quality.

Olympia is at the end of this month: June 30

This is the first version of the Radix Public Network with the core consensus, unsharded Cerberus

After the foundation is put in place, the team decided to push first for the developer tools: Alexandria Babylon releases (Radix Engine v2)

Xi’an is the next release where the scalability solution will be deployed to get all of those nice DeFi applications available to the world

To learn about fully sharded Cerberus, check here: https://www.radixdlt.com/post/cerberus-infographic-series-chapter-i

A great infographic series on how it is that Cerberus achieves practically infinite linear scalability with atomic cross-shard composability

Mihir :

Technology is an essential part🔥

Fan defi:

I believe that Radix is really Great and has very big Potential to Thrive in the future. Can you please Tell me how I can do Investment with Radix? Do you have any ICO or maybe presale now?

Blind5ight:

#Buy options

Source: https://www.radixdlt.com/#token (little scroll down to see the info)

Mihir :

What are you waiting for guys? GO AND BUY!!🔥🔥

Blind5ight:

There are multiple options: decentralized or centralized

Do note that currently you can only buy eXRD

After Olympia launches -> XRD will come into existence

The difference between both is their utility and where you can use them

eXRD = Radix on Ethereum -> you can participate with eXRD in Ethereum DeFi

XRD = Radix on Radix 😁 -> you can use Radix network functions (like staking for network security and earn staking rewards)

More info on staking/rewards in below guide

We have two important posts now live on the blog!

The first gives you an idea of what to expect during the Olympia mainnet launch, the second is the highly anticipated #Radix Staking & Incentive Rewards Guide!

🔹https://radixdlt.com/post/radix-mainnet-launch-timeline

🔹https://radixdlt.com/post/radix-staking-and-incentive-rewards-guide

To bridge from eXRD to XRD below article

We are excited to introduce Instabridge & Instapass, our solution for seamless cross-chain XRD!

Instabridge: your gateway to swap between eXRD and XRD

Instapass: your single sign-on solution for compliance in DeFi

Full details: https://www.radixdlt.com/post/making-xrd-a-cross-chain-token-with-exrd-and-instabridge

Aurellia:

How do you maintain the $RADIX ecosystem and be able to compete in this evolutionary process? As we know there have been many changes in Crypto such as DeFi, NTFs, and Farming, is $RADIX able to provide continuous innovation?

Mihir :

Eagerly waiting for the answer🔥😍

Blind5ight:

There are indeed a lot of innovations in crypto

Most of them are related to finance in some way and want to transact

Radix is building a decentralized public ledger to do all this in a trustless, permissionless, custodianless manner

It has also made sure that the developer environment is tuned to the needs of such a transactional system

The digital assets that are being modelled closely resemble those in the real world

The result is that they are much more intuitive to use which leads to more secure functionality

There’s the example of how a token is modelled on Radix and Ethereum

Radix = more like physical coins

Ethereum = more like bookkeeping

Bookkeeping is prone to errors because balances are being updated for each transaction

Whereas physical coins are much more secure because it’s not possible to give you 1$ instead of 10$ with a 1$ bill 😁

This analogy is explained in this article much better than I tried right now ^^: https://www.radixdlt.com/post/reducing-defi-hacks-exploits-failures-on-radix

2 more questions?

Mihir :

Yes

Fishisfix:

What is the structure of this project , is it decentralised or a open sourced protocol where everybody can contribute? If so, how does the governance plan on being handled?

Blind5ight:

The project is completely open-source

Radix node software is viewable on github: https://github.com/radixdlt

This is a visualization of the development for the Radix network: https://youtu.be/gsABaLD7DJY

The platform is permissionless for developers and users

Anybody can build on top of Radix and any user can use DeFi applications that will be built on top of Radix

No permission required to run a node neither

This is a project that is looking to build a public good and then hand it to the community/world

Mihir :

Woahhhh!!!😍😍

MR SHOAIB:

Does your project support staking program?if yes. how is your stake system work, what is the requirement for user if they want to stake in your platform?

Blind5ight:

Staking is possible with XRD, not eXRD, because staking is a Radix network function, so you need the Radix network native token = XRD

The team has prepared a guide on staking/rewards: https://radixdlt.com/post/radix-staking-and-incentive-rewards-guide

Mihir :

I guess this will give him a good idea😌🔥

Blind5ight:

Thanks for hosting Radix in your community @ManakCl @Mihir

And thank you to all the CryptoLand inhabitants for your attention

Mihir :

It’s our pleasure sir🔥

Also do-not forget to Check out Radix Handles😉

Radix telegram channel: https://t.me/radix_dlt