Radium

The Radium platform uses a Proof-Of-Stake blockchain based on Blackcoin, which was chosen as a energy efficient alternative to Proof of Work used by Bitcoin. While Bitcoin generates new blocks by the expenditure of computational resources (Nakamoto, 2008) Radium generates new coins by splitting groups of coins held in individual wallets (Earls, 2017). As the balance of a wallet increases, so does the probability of generating the next block in the chain, and claiming the block reward. For the scope of this paper, a person attempting to generate new Radium blocks in order to claim the reward will be known as a “staker”.

Radium SmartChain is the second component of the Radium system. It is a second layer of data within the Radium blockchain that contains all of the functions and validation information required for Radium’s non-financial applications. Information is added to the SmartChain using specially formulated transactions with null data (op_return outputs) capable of storing information without impacting volatile memory usage.