Radix Publishing, the publisher of code for the Layer 1 smart contract platform Radix, has unveiled a critical milestone. The final configuration for the Olympia Protocol Update will be released at the end of August 2023, as a precursor to the highly anticipated Babylon Mainnet network migration slated for the end of September.
The Babylon Mainnet will birth an entire Radix ecosystem, featuring an impressive lineup of over 50 projects including DEXs, stablecoins, money markets, games, and NFT marketplaces. But it's not just about the numbers; each of these projects brings something unique to the table. Radix prides itself on being more than just a 'copy-paste' smart contract platform. It aims to deliver a Web3 user experience so intuitive, even your non-tech-savvy friends and family could navigate it. For developers, the productivity boost is purported to be a staggering five times over Ethereum, all while substantially reducing the likelihood of DeFi hacks.
The first iteration of the Radix Public Network, known as Olympia, demonstrated the reliability and robustness of Radix's core technologies, including native assets, delegated proof of stake, and the Cerberus consensus. As it has processed over 2 million transactions with 100% uptime since its 2021 launch, Olympia has set a high standard. Now, the final Olympia Protocol Update will make way for Babylon, Radix’s ultimate vision for DeFi and Web3.
Babylon is touted as the complete package, offering features that significantly enhance user and developer experiences. These include a Radix Wallet for human-readable transactions, trade guarantees, Native Assets, Smart Accounts, and Personas. For developers, Babylon introduces the Scrypto programming language and the Radix Engine virtual machine, laying the groundwork for an asset-oriented approach to Web3 and DeFi development.
This monumental shift in the DeFi and Web3 landscape is the culmination of over a decade of research and development. It's an event that promises to reshape how both everyday users and developers interact with blockchain technology.
So, mark your calendars for the end of August and September because Radix is about to take us on a transformative journey into the future of Web3 and DeFi.
