London, England, September 28th, 2023, Chainwire
Decentralized ledger platform Radix Publishing has celebrated the successful completion of its long-anticipated Babylon mainnet upgrade. The Babylon upgrade represents the end of the Olympia era and has been hailed by Radix as a game-changing moment for Web3 and the wider DeFi space.
The Babylon mainnet upgrade has been described as a “substantial update” to the Radix Network mainnet, enabling the deployment of Scrypto-based smart contracts and a wide swathe of new technologies and features, most notably, the Radix Mobile Wallet.
“With the Radix Babylon Upgrade complete, the Full Stack for DeFi has come together for the first time, ushering in a new beginning for both existing users, as well as those who were hesitant to embrace DeFi and Web3. A new ecosystem awaits – an ecosystem where builders can intuitively build and launch powerful and secure dApps, and where our friends, family, and colleagues can confidently use them” said Piers Ridyard, CEO, RDX Works.
Among the refinements supported by Babylon are the Radix Engine v2 virtual machine, DeFi transaction previews that are human readable, a decentralized royalty system for developers and smart account components, as well as an on-ledger catalog of Scrypto-based blueprints.
The Babylon upgrade brings with it five new products, The Radix Mobile Wallet, which provides a secure way to manage accounts and hold any kind of asset, such as tokens or NFTs on Radix. Radix Connect, which allows users to connect their Radix Wallet to dApps on desktop browsers using a secure peer-to-peer connection with the Radix browser extension. The Radix Dashboard, a comprehensive explorer for the Radix Network and functionalities to stake, unstake, and claim XRD from validators and the Developer Console, which provides functionalities that will be useful for developers to deploy packages to the network, ensuring a streamlined integration of new software components. And lastly, the dApp Sandbox, a developer tool that makes it easy for a developer to experiment with the kinds of requests that a dApp frontend can make to the Radix Wallet, and see the results in the wallet and format of responses.
It is believed the arrival of the Babylon mainnet upgrade will enhance user experience for web3 developers, many of whom have already become acquainted with the incoming features through their use of the Betanet and RCnet testnets. Babylon represents an open, self-incentivizing DeFi dApp ecosystem where developers can build and deploy impactful decentralized applications at scale.
Radix is the only full-stack, layer-1 smart contract platform that offers a radically better experience both for users and developers. With Radix, users can confidently use Web3 and DeFi to manage their assets and identities; and for developers, Scrypto and Radix Engine provide a powerful and secure asset-oriented programming paradigm that allows builders to intuitively go from idea to production-ready dApps that their users will love.
Radix Publishing is responsible for the code security and publication of code associated with the Radix platform.