Olympia Is Here
The initial release of the Radix Public Network is live! Olympia brings with it the native RADIX (XRD) token and the foundational Radix technology stack, on which the future of both Radix and Decentralized Finance (DeFi) will be built.
The Olympia launch is a hugely important milestone for Radix. As the first public release of the Radix Network, Olympia marks the start of a roadmap of releases that will culminate in the unprecedented DeFi readiness and limitless linear scalability of Xi’an. So, what exactly is Olympia?
What Is Included in the Olympia Release?
Olympia has delivered the core of the Radix ecosystem, which will remain in place as Radix continues to grow with future releases. This enables the team to carefully refine essential features in preparation for the launch of more complex development tools in Alexandria and Babylon.
With a focus on tokens, Olympia provides all of the necessary functionality to create, transfer, and stake tokens on the network. This includes an unsharded version of the Cerberus consensus algorithm, featuring a minimum throughput of 50 transactions per second (3.5x that of Ethereum). This is more than sufficient to support expected demand as additional features and throughput are added in future releases. These will culminate in the release of Xi’an, which will implement the unlimited linear scalability of fully sharded Cerberus.
Here are all of the components included in Olympia:
- Radix Node software (Learn More)
Implements the core Radix protocol, including Radix Engine v1 and unsharded Cerberus consensus. This can be installed by anyone in order to operate a node on the network.
- The Radix Engine: (Learn More)
The first version of Radix’s replacement for the Ethereum Virtual Machine. The Radix engine is a highly efficient, high-security execution environment that will eventually run full DeFi applications following the Babylon release of the Radix Public Network. The Radix Engine v1 allows us to test the security and reliability of the environment before we start adding more complexity to the system.
- RADIX (XRD) token: (Learn More)
The genesis of the native RADIX token. XRD can be staked to support network security and earn emissions rewards. It is also used to pay transaction fees on the network. eXRD will continue to exist as a permanent bridge to the Ethereum DeFi ecosystem. Holders will be able to convert between eXRD and XRD at any time on a 1:1 basis.
- Simple Token Creation (Learn More)
Radix Engine v1 allows for new tokens to be created, named, minted, burned, and transacted via the JSON-RPC Radix Node API. Like the ERC20 token, these can be created to represent anything the issuer would like on the Radix Public Network. Note, this requires some technical knowledge of JSON and APIs to use. See this page on our technical docs site for more information.
- Radix Wallet (Learn More)
An initial release of the native Radix Wallet application, featuring easy in-wallet delegated staking. The Radix Wallet is compatible with any token issued on the Radix network and is available for Windows, MacOS, and Linux. Ledger Nano S integration will also be provided. You can find details on how to install the Radix Ledger App here.
- Radix Explorer (Learn More)
A website allowing anyone to explore the state of the ledger, including transactions, wallet balances, and a list of active validator nodes that are eligible to have XRD staked to them.
- Instapass (Learn More)
Radix’s unique, single sign-on approach to optional KYC/AML compliance for DeFi. The first version of Instapass supports Radix services such as Instabridge. In future releases, it will allow any developer building on the Radix network to offer both compliant and permissionless financial services.
- Instabridge (Learn More)
Launching August 5th, Instabridge is an easy-to-use token bridge connecting Radix and other networks, starting with Ethereum. Initially, it will allow for eXRD holders to swap their eXRD 1:1 for XRD. Other tokens and networks will be added in the future.
For a more detailed explanation of what the Olympia release includes and what it means for the Radix community, read the pre-launch Olympia article here.
What Comes Next?
With Olympia in place to build upon, the Radix team is now focused on delivering the next releases on the Radix roadmap.
The first of these will be Alexandria. Alexandria will provide early access for developers to an off-ledger development environment featuring Radix Engine v2 and Scrypto — a new, DeFi-specific programming language developed by the Radix team. This will allow developers to begin working on the decentralized applications (dApps) that will be the first to be deployed to the Radix Network when Babylon is released.
Babylon will follow Alexandria, making the Radix Engine v2 and Scrypto available on the Radix Public Network. It will also feature the release of the Radix Blueprint Catalog, creating a marketplace for high-quality, modular code. Developers will be able to upload component blueprints and instantiate them as needed to quickly build robust dApps on the network. A licensing system will also let developers specify a recurring, on-ledger royalty each time their code is used in a transaction.
Finally, Xi’an will deliver the true limitless power of Radix by implementing the fully sharded version of the Cerberus consensus algorithm. This will provide the practically infinite linear scalability needed for Radix to process all the transaction needs of the global financial market and beyond, all without breaking atomic composability.
To see the full roadmap go to https://www.radixdlt.com/#roadmap
To stay up to date or learn more about Radix, please follow the links below.