22 Jan Radium: A File Authentication Platform
Radium is a PoS blockchain that was launched in May, 2015, aiming to provide identity management to users by using digital IDs to sign files and text to prove ownership, accessibility and file states.
As a whole, Radium is composed of 2 main components: the Radium Core and the Radium SmartChain.
The first component is the Radium Core. This is considered as the primary implementation of the Radium blockchain, and is what will act as the backbone of the Radium SmartChain. The blockchain protocol and Core team behind the project is responsible for updating and maintaining the core wallet code, as well as managing the Radium community. The core wallet is a fork of BlackCoin.
The second is known as the Radium SmartChain, and was designed to adopt blockchain technology to provide ownership authentication, through the utilization of Proof-of-Existence and Proof-of-Ownership. SmartChain is described as a combination of several new protocols with a layered architecture and providing the blockchain with several advanced functions. The component is powered by what Radium calls Smart Transactions.
A Smart Transaction, described by Radium, is a transaction that contains specifically encoded data that becomes immortalized in the blockchain, using a combination of OP_RETURN and specially generated data addresses containing hexadecimal data. Smart Transactions provide unity and functionality throughout the platform.
A software client acting as an extension of Radium Core, called SmartChain Core, will allow users to process data and interact with the Smartchain data layer through the establishment of a standard RPC connection with an existing Radium wallet.
Shown is a example of the SmartChain UI.
Encompassing identity verification, methods of recourse in the event of private keys being compromised, distributed custodial accounts, the functions in the SmartChain data layer are structured in multiple core layers to provide the benefits of a permissioned system.
- A user ID is created when a Radium address is paired with a username and is recorded in the blockchain. Identities include additional information such as a description of the identity, a company name, email address, phone number, etc. Once an ID is registered on the blockchain, it can be used to manage other various SmartChain functions. The identity authority to perform functions are determined by the private key of the identity’s associated address.
- Users will have the ability to send tokens to a username rather than a standard wallet address.
- ID Verification
- IDs can be verified by a third-party who possess a verification key. Currently, only the Radium developer “JJ12880” has a verification key, though as the system matures and expands, keys will be issued to senior community members.
- Text Notes
- Users who have created an ID on the blockchain are able to record text notes in the blockchain to serve as Proof-of-Existence and are available for all to read and verify them.
- Each digital file is assigned a unique DataPrint, that is a string of numbers and letters generated by passing a file through a cryptographic hashing function. To determine a DataPrint of a file, the time of file creation is necessary. An Identity can provide file authenticity, and proof of file accessibility, using the recorded DataPrint information on the blockchain.
- A standalone program that allows a Radium user to look up the DataPrint of any file on their computer and verify it against known DataPrints on the Radium blockchain. It does not require the installation of Radium core or SmartChain core.
The ticker for Radium tokens are denominated as RADS. There was an approximate 2 weeks Proof-of-Work period that generated about 1,008,000 tokens when the blockchain debuted, and Proof-of-Stake has since been implemented. The required minimum stake age for Radium is 6 hours.
By design, the PoS reward was decreased over time, and has now declined to half a token per block. On average, each block matures and is generated at a rate of one per minute, with an estimation of 720 tokens being generated daily. Currently, there is a circulating supply of 3,435,746 RADS.
- Radon Asset:
- Aside from RADS token, Radons are a Radium blockchain asset that is required to utilize the platform. Various functions on the Smartchain will burn Radon, the amount of which is determined by the impact the function will have on the blockchain.
- Radium Decay:
- Radons are generated through Proof-of-Network-Contribution. PoNC is the protocol through which a user is rewarded one Radon asset per donated Radium coin to the block reward of the next pending block. There is no cap on the amount of Radon that can be generated.
In general, the architecture and the fundamentals of Radium do not seem to stand out compared to competitors. Similar blockchain projects have been seen before and Radium does not shine above them in any meaningful way.
Social media hype for Radium is virtually non-existent as well. The project is not entirely open source either and the lead developer does not work on Radium as a full time job; by day they are an ICU nurse. Timothy, Radium’s CEO, hasn’t even finished his degree which is listed for 2016-2022. The lack of overall experience within could be considered a detrimental flaw. Even though development started in 2015, there hasn’t been notable progress.
It’s also worth noting that a significant portion of their code that is open source was directly taken from blackcoin, with the only changes made being that functions with the word blackcoin in them, were changed to include radium instead. They did the same thing with Novacoin as well. This is a huge red flag that indicates this project is more of a mismatched amalgamation of other teams’ code than anything else.
There are no information to be found regarding the percentage of total token the team currently holds, and as the project is not completely open source there is little to no way to confirm their stated information.
Founder and Developer, CEO, MGR Project Radium, LLC
Timothy is currently studying as a Sophomore undergraduate at St. Petersburg, with his graduation year being listed for 2022. His two work experiences being at Radium, and as a CTO for Stokens, Inc.
Justin J. (JJ12880)
Founder and SmartChain Developer
Both an ICU nurse and the Radium lead developer, he probably has the most extensive background of the team yet. Most of his past work experiences are in the science and medical field, and seems unsuited for his position as developer. Once again, inexperience seems to be the theme.
Nicholas A. Ramentol
Radium Co-founder, CFO, CNO
Nicholas is a recent addition to the Radium team, and like his team members, has a very lacking background. His listed education is St. Petersburg College, but there is no graduation date, just simply “High School, Computer Science, 2014”. His only work experience is in IT with the MESA Insurance Agency.
Alaniz (aka Bitkapp)
Radium Core Developer and Community Manager
Assistant SmartChain Developer
SmartChain Beta Testing
The CryptoSyndicate is foregoing all investments into Radium due to the team’s lack of experience in the field, the lack of changes in the codebase from their fork, BlackCoin, the lack of activity on the project that is visible to investors, the questionable structure and overall lack of visibility into the project status, and the under-performing Sentiment volume on socials (or outright lack there of). Exercise caution if you wish to do the same, based on your own judgement.
This article is not investment advise. Please do your own research and be vigilant.