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Dan Hughes, CTO and Founder of Radix DLT


Q&A / Dan Hughes, CTO and Founder of Radix DLT



Prior to discovering Bitcoin in 2011, Dan helped develop the software required to securely deploy NFC based payments in mobile phones. He has previously built, run and exited 3 successful software start ups. Dan has spent the last 6 years building, testing and refining his own DLT protocols, creating Radix in the process.

What sparked your interest in technology?

When I was growing up in Stoke-on-Trent in the 1980’s, my father gave me a Zx81 computer. When I was about five, this lay the foundations for me to become a mobile developer. Although at school most boys were interested in soccer and hanging out, I developed a deep interest in computer coding that has stayed with me throughout my life.

What drew you to blockchain tech?

I first came into contact with blockchain technology when I read about Bitcoin, I was very interested in not just the exchange of value but the underlying Proof-of-Work technology that enabled people to make decentralised transactions free from intermediaries. Although I was impressed with the idea, I quickly became convinced that the underlying technology could be improved.

What led you to create the Radix platform?

There has been considerable hype surrounding blockchain technology, however there are considerable flaws in the data architecture that prevent scalability and mass adoption. The blockchains people refer to today cannot scale without adding some form of central authority or system bottleneck, they are expensive and difficult to build secure applications on and can become much slower when more nodes are added to the network. I wanted to create a platform that could scale and answer legitimate questions businesses and DLT enthusiasts have.

What makes Sharding so significant?

Sharding is the process of cutting up a distributed ledger into 18 quintillion pieces. Radix is a sharded, decentralized ledger that’s an alternative to blockchain and can process over 1m transactions per second (TPS), exceeding Visa’s throughput by 25 times. Radix can achieve its very high throughput speed on a network where anyone can participate and earn rewards for running a node.

Where do you see DLT in five years?

The last decade saw the emergence of Bitcoin as a means of exchange between parties free from intermediaries, the last five years saw the emergence of smart contract technology as a means for transactions to take place free from third parties. Valid questions regarding scalability will lead people to see the benefits sharding has to offer, I also think the underlying internet architecture will be impacted by crypto networks however that might take more than five years.

What are the main challenges to mainstream adoption?

I think there are two main challenges, both buildability and scalability. The Radix Engine provides a breakthrough with an “asset-oriented” approach to DLT development, rather than today’s typical smart contracts. This approach is not just easier – but improves the quality of the result. Moreover, the Radix Engine enables much better “composability” of DLT applications than current solutions. Then there is the additional problem in that the current crop of blockchains cannot scale without adding some form of central authority or system bottleneck, they are expensive and difficult to build secure applications on and can become much slower when more nodes are added to the network. Radix was designed with a new ledger structure that enables it to scale linearly, meaning that the more nodes that are added to the network, the more transactions it can process.

What are the industries you envisage as being most likely to be disrupted by DLT?

People still tend to associate DLT with Bitcoin and price valuations, however I think all industries could see their supply chains, transaction systems, data management processes and auditing disrupted by the effective use of decentralised ledgers. Having worked as a Telecoms consultant I have seen how infrastructures can evolve, however DLT enables people to reconceptualise the traditional client server model and how data silos operate.

Why did you decide to develop Radix in Stoke-on-Trent?

I’m proud to be from Stoke-on-Trent, my roots are here and it provides a peaceful and calm environment to focus in on developing the technology and coding that will ensure DLT is scalable and sustainable. We have a team of engineers from the US, Australia, South America and Europe focused on developing the platform free from some of the unnecessary distractions and noise that other cities suffer from.

About Radix:
Radix is a new platform, like Bitcoin or Ethereum, but scalable and easy to build on. Instead of using blockchain, we started from scratch with an entirely new design so that every person and device in the world could use Radix without centralization or compromise. We created the building blocks that make applications, tokens, and coins as easy to deploy as possible. It’s fast, it works, and our test net is already live.
Radix is a speedy alternative to blockchains and DAGs. It uses both the passage of logical time and database sharding to create an immensely secure and scalable system for the shared storage and accessing of data.

Finyear & Chaineum

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Chaineum :
Fondée en 2015, Chaineum est une boutique STO offrant une expertise de premier plan en matière d’ICO et STO, avec une vision stratégique orientée tant vers le métier de ses clients que sur la technologie blockchain. A ce titre, Chaineum a participé à la mise en œuvre de bonnes pratiques dans le secteur (ICO Charter, Security Token Network).
La division services blockchain de Chaineum, développe la technologie Chaineum Segment, une blockchain privée orientée objets.

About Chaineum:
Founded in 2015, Chaineum is a STO Boutique with a strong expertise in ICO and STO, and a strategic focus on both its clients' business and blockchain technology. As such, Chaineum paved the way in the implementation of certain best practices in this sector (ICO Charter, Security Token Network).
Chaineum's blockchain services division, is developing Chaineum Segment technology, an object-oriented private blockchain.

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Jeudi 12 Décembre 2019
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