The Radix journey began with Dan Hughes, CTO and Founder who in 2012 realized that Bitcoin would never be able to scale to service the world because of strong technical limitations that are fundamental flaws in how Blockchain operates.
Having previously worked in the payment technology space, including developing some of the first NFC mobile payment systems which we see in our mobile phones today, Dan was intimately aware of what was required to make a globally scalable payment system work. This started a 6-year investigation into how you could build a trustless decentralized ledger that would be capable of supporting 7 billion people and 24 billion devices simultaneously.
Dan had to throw away state channels, side chains, block trees and Directed Acyclic Graphs, Proof of Work, Proof Of Stake and Voting. All the technology that goes into Radix is the result of having built and broken all of the different technology solutions that have come before. As of June 2019 Radix held public scalability tests where it has peaked at 1.4 million transactions per second.