Hi Raghav! We’d like to address some of these issues that Radix can help with:

1. Performance Issues — Radix, based on the Tempo Algorithm, is fast, scalable and cheap. The transaction cost is negligible (around 1 cent), the network is decentralized, massively sharded to scale linearly and the transactions are asynchronous and the finality time is under 5 seconds.
2. Lack of standardization — Radix will give the opportunity to develop through its API, with Java, Javascript and Kotlin libraries available. We also utilize Scrypto, a state machine which provides security and functional abstraction to virtual-machines that live on top of it. This enables any VM to interface (providing it can) and execute any script in any language.
3. Higher Cost — as mentioned before, the transaction costs will be minimal, while the nodes will be simple to deploy and running on standard commercial hardware to ensure fair participation.

I hope this ensures you that distributed ledger technology has a future — even if it's not a blockchain — if you’d like to learn more head on to our site https://www.radixdlt.com/ or knowledge base — https://docs.radixdlt.com/alpha/