Radix Decentralized Ledger Announces Plan to Show the Last Decade of Bitcoin Transactions
- Radix is a decentralized ledger that does not use blockchain technology.
- The ledger announced a scalability test yesterday, displaying all of the transactions of the Bitcoin blockchain for the last ten years.
Offering the “Tempo” Data Structure for Distributed Storage Access, Instead of Blockchain
Radix is a force moving through the internet right now, acting as a public trustless decentralized ledger, though it says that this ledger should be considered more of a new layer for the internet. On this so-called layer, Radix makes it possible for transactions involving data, money, and other assets to be processed quickly. When its creators designed it, the ledger was meant to provide an alternative to using blockchain technology and all of its problems.
Instead of the blockchain, Radix offered “Tempo,” which is a new type of structure, and also offers a consensus mechanism that offers data and distributed storage access. The entire network is governed by two main pillars – linear scalability and decentralization. Linear scalability cuts up the input structure to index the data more easily, while decentralization improves its efficiency and scalability. Furthermore, Radix is designed to work on just about any device, since it is driven by API.
On June 12th, Radix decided to take a bold action – displaying the last 10 years of the transaction history of Bitcoin on its own ledger. Radix announced this replay on Twitter yesterday, adding that they peaked during the test at 1,089,887 TPS. However, the ultimate goal of the test was to show just how easy it was to transfer ownership of value in the absence of a central authority.
— Radix (@radixdlt) June 12, 2019
“Translating BTC Transactions to An Atom Model”
The company added a link to the post to show more information about the scalability test, explaining that the use of Bitcoin’s blockchain was due to their long transaction history with a data set that is “easily verifiable.” The company also broke down the entire process behind the scalability, which is available in a technical and a non-technical format.
Considering that the DLT for Radix is not actually a blockchain, the company brings up the question of how the transactions are stored. In response, the platform said,
“We are translating BTC transactions to our Atom model – 1 bitcoin transaction is equal to 1 atom being sent.”
To view the full explanation of the scalability test, go here for the full blog.