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Radix Announces Irreversible Update Prior to Babylon Mainnet Migration

2 mins
Updated by Ali Martinez
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Radix Publishing, a publisher of code for the Layer 1 smart contract platform Radix, is thrilled to announce that configuration for the final Olympia Protocol Update will be released at the end of August 2023.

This signifies an irreversible move towards Radix’s Babylon Mainnet network migration at the end of September.

Birth Of The Radix Ecosystem – A Radically Better User and Developer Experience

Radix’s Babylon Mainnet network migration in September will mark the birth of the Radix ecosystem, with 50+ projects scheduled to launch over Q4 2023, including DEXs, stablecoins, money markets, games, NFT marketplaces, and more. An entirely novel DeFi ecosystem is forming with powers never before seen in Web3.

Each one of these 50+ projects offers something unique as Radix is not a copy and paste smart contract platform. These projects are launching on Radix because it enables a Web3 user experience your friends and family could confidently use; and an experience for developers that increases their productivity by an average of five times over Ethereum, while reducing the chances for DeFi hacks and exploits.

This giant leap in user and developer experience has not come overnight, but is the result of more than 10 years of R&D that is now, in September, coming to fruition.

Olympia to Babylon – The “Full Stack” for DeFi and Web3

The first version of the Radix Public Network, Olympia, was successfully launched on July 28th, 2021.

Olympia demonstrated the robustness of core Radix technologies such as native assets, delegated proof of stake, and Cerberus consensus. Olympia has processed more than 2m transactions with 100% uptime since its launch. With the final Olympia Protocol Update scheduled for release at the end of August, Olympia will irreversibly give way to the Babylon Mainnet network. 

Babylon marks the launch of Radix’s “Full Stack” for DeFi and Web3, that will include the Radix Wallet, empowering users with human-readable transactions, trade guarantees, Native Assets, Smart Accounts, and Personas; all wrapped in a mobile-first experience that can switch seamlessly to desktop when needed.

For developers, Babylon sees the production launch of the Scrypto programming language and smart contracts executing in the Radix Engine virtual machine. This event inaugurates a new asset-oriented paradigm for developing Web3 and DeFi with assets, such as tokens and NFTs, as first-class features of the programming environment.

About Radix

Radix is a full-stack, layer-1 smart contract platform offering a radically better experience for users and developers. With Radix, users can confidently use Web3 and DeFi with the Radix Wallet; and for developers, they can intuitively build secure, production-ready dApps with the asset-oriented Scrypto programming language.For more information, please visit: Radix and RadFI

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