| General information | |
|---|---|
| Global rank: | 840 |
| Name: |
Radix |
| Symbol: | XRD |
| Current coin price (XOF): | 0.692 XOF |
| Last hour: | arrow_downward-0.920 % |
| Last 24 hours: | arrow_downward-1.18 % |
| Last 7 days: | 15.43 %trending_up |
| Capitalisation (XOF): | 9 232 146 044.97 XOF |
| Volume 24h (XOF): | 138 679 431.71 XOF |
| Available supply: | 13 341 663 074.00 XRD |
| Total coin supply: | 24 000 000 000.00 XRD |
| Start date: | 2021-07-28 |
Radix/CFA Franc BCEAO (XRD/XOF) price chart
Radix/CFA Franc BCEAO (XRD/XOF) capitalisation and volume charts
Radix (XRD) is the native token of the Radix Public Network. It was initially launched in July 2021. XRD plays a crucial role in the network's Delegated Proof of Stake (DPoS) system, which uses XRD to protect the Radix Public Network from Sybil attacks. In this system, XRD token holders vote on which validator nodes they want to participate in consensus by delegating tokens to them, a process known as "staking". The stakers are incentivized to do this by earning network emission rewards. In addition to staking, XRD is also used to pay transaction fees on the Radix Public Network, with all transaction fees being burnt or destroyed by the Radix Protocol. Besides these primary uses, XRD can also be used by any dApp within the Radix DeFi ecosystem, for instance, as collateral in a lending protocol, or as an intermediary facilitating exchange between other tokens.
Radix was created by Dan Hughes, who is the current CTO and Head of Engineering. He is an experienced developer in the blockchain field, with his involvement dating back to 2011.
The Radix token (XRD) is used primarily for two purposes: staking and paying transaction fees. In terms of staking, XRD is a fundamental part of Radix’s Delegated Proof of Stake (DPoS) system, where XRD token holders vote on which validator nodes they would like to participate in consensus by delegating tokens to them. This is incentivized by the earning of network emission rewards. In terms of transaction fees, XRD is used to pay these fees on the Radix Public Network. These fees are primarily intended as a means of preventing spam transactions across the network, and 100% of all transaction fees are burnt or destroyed by the Radix Protocol. In addition to these primary uses, XRD could also be used by any dApp within the Radix DeFi ecosystem, such as collateral in a lending protocol or as an intermediary facilitating exchange between other tokens.