- Summary:
- Radix says that the upgrade heralds a new era in Web3, with the availability of an open, self-incentivising DeFi dApp ecosystem
Radix Publishing, the decentralised ledger platform, has today announced the completion of the long-awaited upgrade to the Babylon mainnet. Radix believes that to create and launch large-scale distributed apps, developers need access to an environment like Babylon’s open, self-incentivizing DeFi dApp ecosystem.
The launch of the Babylon upgrade heralds the beginning of a new era for Web3 and the DeFi ecosystem and closes the curtains on the Olympia period. In terms of improvements, Babylon comes with features like the Radix Engine v2 virtual machine, human-readable DeFi transaction previews, a distributed royalty system for developers, smart account components, and an on-ledger catalogue of Scrypto-based blueprints.
According to a company release, Radix Publishing believes that a substantial update to its mainnet was necessary to install Scrypto-based smart contracts and an extensive range of new technologies and capabilities, including the Radix Mobile Wallet.
Now that the Radix Babylon Upgrade is complete, a new ecosystem is available, one in which developers may easily create and release robust, secure decentralised applications. Many web3 developers have already been familiar with the upcoming improvements through their use of the Betanet and RCnet testnets. Therefore, it is expected that the introduction of the Babylon mainnet upgrade will be a seamless transition that will improve the user experience for web3 developers.
Key features of the upgrade
The Babylon mainnet upgrade comes with the following five products:
- The Radix Mobile Wallet: This wallet offers a secure way of managing accounts and storing any asset, including tokens and NFTs, on Radix.
- Radix Connect: This feature enables users to employ the Radix browser extension and a secure peer-to-peer connection to link their Radix Wallet to dApps on desktop browsers.
- The Radix Dashboard: Users can stake, unstake, and claim XRD from validators and other users via the Radix Dashboard, an all-inclusive explorer for the Radix Network.
- The Developer Console: This tool offers features that will be helpful for developers to publish packages to the network, guaranteeing a smooth incorporation of new software components.
- The dApp Sandbox: This is a platform for developers that makes it easy to test out different dApp frontends, the requests they can make to the Radix Wallet, and the formats in which those requests are returned.