Radix Publishing, the creator of the decentralized ledger platform, has announced the successful conclusion of its much-awaited Babylon mainnet upgrade. Radix has praised the Babylon upgrade as a revolutionary event for Web3 and the larger DeFi market, signalling the end of the Olympia era.
A “substantial update” to the Radix Network mainnet, the Babylon mainnet upgrade allows for the deployment of Scrypto-based smart contracts along with a host of new features and technologies, the most notable of which being the Radix Mobile Wallet.
Piers Ridyard, CEO, RDX Works, said: “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.”
Babylon supports a number of enhancements, including the virtual machine Radix Engine v2, human-readable DeFi transaction previews, an on-ledger database of Scrypto-based blueprints, and a decentralized royalties system for developers and smart account components.
Five new products are included in the Babylon upgrade. One of them is the Radix Mobile Wallet, which offers a safe way to handle accounts and store any sort of asset, including tokens or NFTs. Radix link enables users to use a safe peer-to-peer connection with the Radix browser extension to link their Radix Wallet to dApps on desktop browsers. The Developer Console offers features that will help developers deploy packages to the network, guaranteeing a smooth integration of new software components. The Radix Dashboard is a thorough explorer for the Radix Network with features to stake, unstake, and claim XRD from validators. Last but not least is the dApp Sandbox, a development tool that enables developers to quickly test out the different types of queries that a dApp frontend can send to the Radix Wallet and observe the responses’ format and outcomes in the wallet.
It is anticipated that web3 developers—many of whom have previously used the Betanet and RCnet testnets to familiarize themselves with the upcoming features—will have a better user experience with the Babylon mainnet update. An open, self-incentivizing DeFi dApp ecosystem is represented by Babylon, where developers can create and implement large-scale, influential decentralized applications.
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