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.
The Babylon mainnet upgrade comes with the following five products:
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