Radix Babylon Upgrade Revolutionizes Web 3.0 and DeFi Space
London-based decentralized ledger platform Radix Publishing has successfully completed the highly anticipated Babylon mainnet upgrade, signaling a significant milestone for Web 3.0 and the wider decentralized finance (DeFi) industry.
The Babylon mainnet upgrade represents a major update to the Radix Network mainnet, introducing Scrypto-based smart contracts and a range of new technologies and features, notably the Radix Mobile Wallet.
Piers Ridyard, CEO of RDX Works, expressed excitement over the completion of the Babylon upgrade, stating that it brings together the full stack for DeFi and ushers in a new era for existing users as well as those who have been hesitant to embrace DeFi and Web 3.0.
Key Features of Babylon Upgrade
The Babylon upgrade introduces several refinements to the Radix Network, including the Radix Engine version two virtual machine, human-readable DeFi transaction previews, a decentralized royalty system for developers, on-ledger Scrypto-based blueprints, and more.
The upgrade also brings five new products:
1. Radix Mobile Wallet
A secure wallet that enables users to manage accounts and hold various assets such as tokens or NFTs on Radix.
2. Radix Connect
A connection tool that allows users to connect their Radix Wallet to desktop browser-based DApps using a secure peer-to-peer connection with the Radix browser extension.
3. Radix Dashboard
An explorer for the Radix Network with functionalities for staking, unstaking, and claiming XRD from validators.
4. Developer Console
A tool that provides functionalities for developers to deploy packages to the network, facilitating the integration of new software components.
5. DApp Sandbox
A developer tool that enables experimentation with requests that a DApp frontend can make to the Radix Wallet, allowing developers to see the results and format of responses in the wallet.
Enhanced User Experience for Web 3.0 Developers
The Babylon mainnet upgrade is expected to enhance the user experience for Web 3.0 developers, many of whom have already familiarized themselves with the incoming features through the betanet and RCnet testnets.
Babylon creates an open, self-incentivizing DeFi DApp ecosystem where developers can build and deploy impactful decentralized applications at scale.
About Radix
Radix is a full-stack, layer one smart contract platform that offers an improved experience for both users and developers. It allows users to confidently utilize Web 3.0 and DeFi for asset and identity management, while providing developers with Scrypto and Radix Engine for intuitive development of production-ready DApps.
To learn more about Radix, visit their website here.
Contact
For media inquiries, contact Avishay Litani from MarketAcross via email at [email protected].
Hot Take: Radix Babylon Upgrade Marks New Era for Web 3.0 User and Developer Experience
Radix Publishing has celebrated the successful completion of the Babylon mainnet upgrade, a significant development for Web 3.0 and the DeFi industry. This update introduces Scrypto-based smart contracts and various new features, including the Radix Mobile Wallet. The CEO of RDX Works, Piers Ridyard, believes that this upgrade brings together the full DeFi stack, providing an ecosystem where builders can create powerful and secure DApps, while users can confidently use them. The Babylon upgrade also includes refinements such as a decentralized royalty system for developers and on-ledger Scrypto-based blueprints. With five new products added, the Babylon mainnet upgrade aims to enhance the user experience for Web 3.0 developers and create an open DeFi DApp ecosystem.
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