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Radix Announces Babylon, First Major Update to Radix Public Network

Thu, 09/29/2022 - 14:00
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Arman Shirinyan
Babylon Alphanet test network goes live ahead of mainnet launch
Radix Announces Babylon, First Major Update to Radix Public Network
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Radix smart contract platform for asset-oriented DeFi has recently announced the launch of its new test network, Alphanet, for the upcoming Babylon release, which is the first update to the existing Radix Public Network.

Radix is a full-stack solution for DeFi which, with the Babylon release, will include Radix Engine, the world's first programmable "DeFi Engine" with native asset features. The stack will include Scrypto, an asset-oriented programming language based on Rust.

Radix also aims at changing how wallets interact with networks, adding a new component-based account model and a new asset-oriented model for transactions.

Babylon Alphanet

Babylon Alphanet is the latest major milestone since the first preview release of Scrypto in December of 2021, called Alexandria. What we see now is stage two of a release schedule that will help developers to start working with new Babylon DeFi capabilities.

With this approach, Radix ensures a smooth transition and helps a community of more than 3,000 developers who started working with Scrypto.

Despite the bear market conditions, Radix is seeing a large growth in transaction volume and a 52% increase in the number of wallets, with over 2,000 XRD since the start of 2022. The total number of active users on the Radix network increased to 81,300 in the last nine months.

Additionally, the smart contract platform is going through a series of native XRD token listings on large exchanges such as KuCoin, HitBtc, Bitmart and others. The XRD tokens are already available for trading against BTC and USDT.

With the Babylon Alphanet launch, exchanges are expecting a surge in trading volume and activity on the XRD market ahead of launching the Babylon mainnnet.

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About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.