(PRESS RELEASE – London, England, September 28, 2023)
Decentralized accounting platform Base Publishing has celebrated the successful completion of the long-awaited Babylon mainnet upgrade. The Babylon upgrade represents the end of the Olympia era and has been hailed by Radix as a revolutionary moment for Web3 and the broader DeFi space.
The Babylon mainnet upgrade has been described as a “substantial upgrade” to the Radix Network mainnet, enabling the implementation of Scrypto-based smart contracts and a wide range of new technologies and features, in particular, Radix Mobile Wallet.
“With the Radix Babylon upgrade complete, the Full Stack for DeFi came together for the first time, ushering in a new beginning for both existing users and those who were hesitant to adopt DeFi and Web3. A new ecosystem awaits us: an ecosystem where developers can intuitively create and launch powerful and secure dApps, and where our friends, family and colleagues can use them with confidence,” said Piers Ridyard, CEO of RDX Works.
Among the improvements supported by Babylon are the Radix Engine v2 virtual machine, human-readable DeFi transaction previews, a decentralized royalty system for developers and smart account components, as well as an in-ledger catalog of blueprints based in Scrypto.
The Babylon update brings with it five new products, The Radix Mobile Wallet, which provides a secure way to manage accounts and hold any type 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. Radix Dashboard, a comprehensive explorer of the Radix Network and functionalities for staking, withdrawing and claiming of software. And finally, dApp Sandbox, a developer tool that makes it easy for a developer to experiment with the types of requests a dApp interface can make to the Radix Wallet and see the results in the wallet and the format of the responses.
The arrival of the Babylon mainnet update is believed to improve the user experience for web3 developers, many of whom have already become familiar with the incoming features by using the Betanet and RCnet testnets. Babylon represents an open, self-incentivized DeFi dApp ecosystem where developers can build and deploy impactful decentralized applications at scale.
About Radix
Base is the only full-stack, Layer 1 smart contract platform that delivers a radically better experience for both 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 creators to intuitively go from idea to production-ready dApps their users will love.
For more information please visit: https://radixdlt.com and https://www.radixdlt.com/full-stack/
Radix Publishing is responsible for code security and publishing the code associated with the Radix platform.
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