Despite the broad economic promise of blockchain technology, existing blockchain crypto-economic platforms such as Bitcoin and Ethereum have largely been used for speculation and fundraising by a narrow group of traders and enthusiasts.
A universal, public network for the transaction and programming of money and other assets is a powerful idea that blockchain paved the way for. Actually achieving this vision requires a technology platform with global scale and performance, a powerful development model focused on real-world usage, and economics that work for all participants in a pervasive digital economy.
Blockchain was just the first of a new branch of technology called Decentralized Ledger Technology (DLT) – the broad industry term that covers a variety of technologies such as Blockchain, Directed Acyclic Graph (DAG), and the Radix unique architecture called “Tempo”.
Radix is a complete rethink of DLT technology, development, and economics. It was not created by “forking” an existing blockchain system; it is the first public DLT platform designed from the ground up to meet the needs of the global digital economy. Because Radix does not use a blockchain, this paper will refer to the Radix technology and platform as DLT.
The topic of this section of the Radix knowledge base is for DLT applications with a financial component – a core use-case for Radix. It discusses some of the unique Radix features enabling these applications, and provides an overview of how a developer might approach building these applications using Radix and its broader ecosystem.