• Radix’s Babylon upgrade transforms Web3 and DeFi with Scrypto-based smart contracts, a user-friendly Radix Mobile Wallet, and other innovative features.

• CEO Piers Ridyard highlights the upgrade’s potential to create a more accessible DeFi ecosystem for developers and users.

Radix Publishing, a prominent decentralized ledger platform, has recently marked a pivotal moment in the blockchain world with the successful launch of the Babylon mainnet upgrade. This milestone, celebrated in London, is a turning point, concluding the Olympia era and signaling a new era for Web3 and DeFi.

The Babylon upgrade is nothing short of a substantial leap forward. It introduces Scrypto-based smart contracts to the Radix Network mainnet, providing developers with robust tools for creating decentralized applications (dApps). The Radix Mobile Wallet is an exciting addition, a secure and versatile solution for managing various digital assets, including tokens and NFTs.

Piers Ridyard, CEO of RDX Works, expressed his enthusiasm for the Babylon upgrade, stating,

“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 and those who were hesitant to embrace DeFi and Web3. “

Noteworthy Features of the Babylon Upgrade

The Babylon upgrade brings several significant features and refinements to the forefront, including:

• Radix Engine v2 Virtual Machine: This enhanced virtual machine equips developers with the tools to create efficient and secure smart contracts.
• Human-Readable DeFi Transaction Previews: Babylon introduces a user-friendly interface for DeFi transactions, making it easier for users to understand and engage with the technology.
• Decentralized Royalty System for Developers: A novel feature that rewards developers for their contributions to the ecosystem, fostering innovation and growth.
• Smart Account Components: This feature enhances the functionality and flexibility of accounts on the Radix Network.
• On-Ledger Catalog of Scrypto-Based Blueprints: Developers now have access to a catalog of blueprints, streamlining the creation of dApps and reducing development time.

The Introduction of New Products

In tandem with the Babylon upgrade, Radix has unveiled five new products designed to elevate the user and developer experience:

• Radix Mobile Wallet: A secure and versatile solution for managing digital assets on the Radix Network, including tokens and NFTs.
• Radix Connect: This feature enables users to seamlessly connect their Radix Wallet to dApps on desktop browsers using a secure peer-to-peer connection facilitated by the Radix browser extension.
• Radix Dashboard: A comprehensive explorer for the Radix Network, offering functionalities such as staking, unstaking, and claiming XRD from validators.
• Developer Console: Designed to streamline the deployment of packages to the network, the Developer Console is an invaluable resource for developers seeking to integrate new software components.
• dApp Sandbox: A developer tool that simplifies experimentation with dApp frontend requests and responses, facilitating the development and testing of decentralized applications.

Empowering Web3 Developers

A primary objective of the Babylon upgrade is to enhance the experience for Web3 developers, many of whom have already gained familiarity with these features through the Betanet and RCnet testnets. Babylon heralds an open, self-incentivizing DeFi dApp ecosystem where developers can create and deploy impactful decentralized applications at scale.

Notably, Radix is the only full-stack, layer-1 smart contract platform that prioritizes user and developer experiences in the Web3 and DeFi space. With Radix, users gain the confidence to securely engage with Web3 and DeFi to manage their assets and identities.