Research has shown that the financial institution faces a lot of challenges today from insecurity to the demands of the customers . Today financial customer expects more , demands faster access, and expects better results.
People no more want to queue and fill lot of forms before they can perform any transaction and also wait for a certain period of time before performing a transaction although most financial institute are going digital but these is centralized and can be controlled.
Defi (Decentralized finance) as we all know is not a new name in the industry and with this Finance can be managed autonomously and not by a central bank or institution.
Decentralized finance digital assets are designed on Ethereum codes, and usually exhibit characteristics that include having protocols and financial smart contracts.
Due to the adaptation of Defi accessing and using financial services can take days, or weeks to use. And this is caused by the overcapacity and clogging on the Ethereum system .
Defi is the future of finance but with scalability as a problem what chance does defi have. Radix is a platform that aim to solve the problem of Defi and provide a future for Defi .
Many attempts to solve scalability in DeFi use all types of sharding but it ends up breaking atomic composability . (The ability to stitch together multiple functions from multiple dApps within a single atomic transaction and this is critical for defi).
“Radix is the only protocol that uses sharding to deliver linear scalability — without breaking composability. This means that Radix can meet the throughput needs of any number of dApps as the network grows, and all of those dApps can continue to interoperate without limitation”
Radix (using Cerberus sharded consensus protocol) is the only solution that provides the perfect scalability for DeFi , while maintaining unlimited atomic composability and no breakage.
Other protocols who offer improved scalability either provide limited composability across select applications or completely break composability by separating each application on its own side-chain.
Consensus protocols are necessary to conduct state machine replication (SMR) across a network of unreliable machines. While broadly applicable and with a long history, consensus protocols designed for SMR within distributed ledger technology (DLT) networks are of intense interest. These networks range from global-scale public decentralized platforms to critical private business back-ends and often have very high transactional throughput demands. Extending and adapting existing consensus protocols to meet this demand for scalability has proved challenging.
Radix presents Cerberus as a new scalable consensus protocol of particular utility in these high-demand DLT networks .
Radix plans on solving scalability with Cerberus building a scalable, decentralised, public network that can support and connect billions of users.
Cerberus creates a multi-lane superhighway, capable of processing massive numbers of transactions in parallel. Unlike traditional public ledger that treats consensus operations like a single lane of traffic.
Other blockchain requires a lot of confirmations to process a transaction. Cerberus processes a transaction in seconds and creating an immutable record almost instantly after the transaction has been submitted.
And with this it provides not just scalability but also speed and security .
Defi is increasing and developing and it needs a good and better system to accommodate the growth. A system that’s suitable and can solve all problems brought forth by defi and that’s why Radix was built to help solve the Defi issues and accommodate the growth of Defi .
Radix is the future of Defi
Read the full whitepaper here https://www.radixdlt.com/wp-content/uploads/2020/03/Cerberus-Whitepaper-v1.0.pdf
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