Some new friends don’t know much about Radix. Can you please tell us about the Radix project and its origin?
嘉宾：Radix is the Smart Money Protocol, a next generation layer 1 platform that does not have the limitations of current layer 1 platforms. Radix has demonstrated 1.4 million TPS in 2018. This is the world record still today. Our new consensus algorithm ‘Cerberus’ is able to theoretically scale infinitely. We will deliver this capability in 3 steps: from 50 TPS to thousands of TPS, to unlimited TPS. We have a strong team with backgrounds at ConsenSys, Microsoft, Nvidia and Y-Combinator who are experienced in delivering complex products. All of our last milestones were delivering ahead of time.
A big focus for us are developers. With Radix, developers can build fast without the massive security and exploit risks on Ethereum. Some information around this is already public, such as the Component Catalogue and Blueprints. We are excited to share more information soon. Also we think that we are incentivizing the right people in our network, the developers for creating valuable components and the validators for securing the network. Scalability is important of course, on Radix dApps can scale to millions of users without friction because we don’t have a built-in TPS limit thanks to our innovative technology.
At Radix we have big goals, we want to fundamentally change the current financial system, because we think it is not a fair system. It is time to build a new financial system and Radix wants to be the platform on which the new decentralized financial system is built. To help with this, Radix has founded the GoodFi Alliance (GoodFi.com). The goal is to bundle the industry’s resources to educate and onboard the next 100 million people from the traditional financial system to DeFi. Many big players have joined us, like Aave, Chainlink, mStable and dozens of others. We are very thankful and are confidently looking into the future. We have 3 major milestones coming up with our Cassandra research network, our Betanet at the end of April and our mainnet by end of Q2. Exciting times at Radix!
(“Achieving global scalability while maintaining security and decentralization" is known as the impossible triangle of the blockchain. Radix claims to solve this problem and maintain the composability of the entire platform. How to do it?)
嘉宾：To achieve (practically) unlimited scalability Radix employs sharding of their network with 2^256 shards, which is roughly comparable to the total number of atoms in the known universe. Each of these 2^256 shards can process around 3000 TPS independently.
Due to the large amount of shards nearly all transactions are cross-shard transactions by default.
由于分片数量众多，默认情况下几乎所有事务都是跨分片事务。
Radix’s cross-shard consensus algorithm Cerberus ensures atomic composability for these transactions across the entire plattform. Cerberus is highly parallelized, atomic and asynchronous which enables fast and atomic cross-shard transactions at global scale.
Cerberus dynamically braids the involved shards of a cross-shard transaction together and the whole transaction either succeeds or fails together in an atomic way.
(Radix is positioned to build a Layer 1 platform for decentralized finance. Compared with other Layer 1 platforms on the market such as Near, what are the differences and advantages of Radix with the main sharding expansion technology?)
嘉宾：The unique advantage of Radix’s sharding approach is that it is the only one which does not break atomic composability while achieving linear scalability. All other competing sharded layer 1 platforms sacrifice composability to get some scalability via sharding, which is not sustainable.
Near’s scalability is limited because it requires too many nodes (1 million nodes are needed for only total 10K TPS) and also breaks atomic composability.
Polkadot introduces sharding with parachains, but breaks atomic composability between parachains/shards, because a smart contract can only send messages to another parachain and Polkadot doesn’t support the concept of atomic cross-shard transactions.
Elrond has shards, but their metachain will become a bottleneck in the future, because every cross-shard transaction needs to be initialised and finalised on their metachain and also Elrond does not support atomic composability across shards.
Cosmos has shards, but dapps are separated on side-chains which breaks atomic composability between them.
Cosmos有碎片，但是dapps在侧链上分开，这破坏了它们之间的原子可组合性。
Ethereum 2.0 canceled their layer 1 sharding efforts (or delayed it far away in the future) and are going for layer 2 scaling now. This means smart contracts will not be able to be executed in their layer 1 and their layer 2 scaling approach sacrifices atomic composability.
Avalanche, Cardano, Fantom, Solana, Algorand and Ethereum 2.0 are not sharded in the first place and therefore will run into bottlenecks sooner or later.
Without sharding there is an upper limit for the transactions per second, because every single node needs to process every transaction at least once and additionally there are storage issues, since the ledger state grows over time to a point where you either can’t handle it anymore on a single node or you need a supercomputer which leads to centralisation.
How does Radix make the defi dapp on Ethereum migrate to the Radix network?
嘉宾：Gas costs are killing the usability of the Ethereum ledger. Solidity is a nightmare for DeFi developers. Right now, most of the Ethereum ecosystem is actively looking for ways to mitigate the scalability issues, and every single project is constantly trying to mitigate the security issues of solidity. Layer 2s break the composability that is so critical to DeFi, and projects like Polkadot, Avalanche and Ethereum 2.0 do no better on this front.
Radix proposed a new consensus algorithm Cerberus. Compared with other algorithms, what are the advantages? Can this algorithm be applied to Ethereum and Polkadot networks?
