Radix, the smart contract platform, has released its Alphanet test network ahead of its forthcoming Babylon release. Radix Engine is the first programmable “DeFi Engine” with native asset features. Together with Scrypto, a Rust-based programming language focused on assets, they will be integrated into the Babylon release. It will also change the way wallets interact with the network. Furthermore, it will introduce a component-based account model that will allow for more functionality to be available to end users.
What does Babylon bring to Radix?
The current Radix Public Network will receive its first major upgrade with the release of Babylon. The introduction of Babylon Alphanet is indicative of the increasing momentum and buzz around Radix, and phase two of the rollout plan for Babylon Alphanet has begun. The goal is to have developers experiment with the latest features of Babylon DeFi and ensure a seamless transition to mainnet by testing a wide range of interdependent technologies, protocols, and interfaces.
This approach gives developers the time they need to prepare for and test the launch of their own decentralized applications. Ultimately, this assures a smooth migration for those who are currently building on Radix. When Babylon debuts, this will serve as a booster for the entire Radix DeFi ecosystem. The Radix engine’s primary focus is on establishing itself as the go-to platform for cutting-edge DeFi software, and it’s eager to show off its work toward this end.
Radix’s network has had a 7-fold in transaction volume and a 52% increase in wallets holding more than 2000 XRD since the beginning of the year, despite the bear market. Over the same period, the number of Radix wallets in use increased from 11,600 to over 81,300.
After Alphanet goes live in Q4, Babylon it will usher in the release of Betanet. The APIs and Scrypto/network functionalities will be complete and ready to go at that point. These enhancements will let developers test the production version of the first generation of Scrypto dApps and migrate third-party connectors. Once all systems are functioning properly, the deployment to Babylon will be complete in the first half of 2023 with the complete migration to the mainnet of the Radix Public Network.