How does radix work?

Could you elaborate on the workings of Radix in the realm of cryptocurrency and finance? I'm curious to understand its underlying principles and functionalities. Specifically, how does Radix enable transactions to occur securely and efficiently? What are the key mechanisms that power its system? Additionally, how does Radix's approach compare to other blockchain technologies? I'm interested in gaining a deeper understanding of its technical architecture and its potential impact on the financial landscape.