Radix Mainnet Upgrade: Unveiling the Babylon Revolution!

Radix is an innovative blockchain designed to facilitate the rapid and seamless development of DeFi applications, and it's powered by the RDX token.

Empowering developers to build more efficiently, while also granting them royalties for their contributions.

For the past decade, Radix has been diligently developing a solution to address the most significant challenges in DeFi and Web3, encompassing scalability, user experience, and developer experience. They are now releasing one of the most important updates of the Radix network: Babylon.

Radix: Bablyon Mainnet Explained

Babylon Mainnet

Experience the power of an open and self-incentivizing decentralized finance (DeFi) ecosystem on Radix.

With Scrypto "component" smart contracts running on-network, you can explore a truly decentralized Royalty System and an on-network Blueprint Catalogue.

Unlock the full potential of a fully-featured, secure DeFi dApp ecosystem on Radix and dive into a world of endless possibilities. (source: Radix) 

Radix Vs Solidity

Scrypto smart contract language simplifies complexity for developers through its Radix Engine, enabling elegant and robust dApp development with fewer lines of code. It serves as the perfect incubator for attracting the most talented developers to thrive and innovate.

Babylon Mainnet: New platform technologies

Smart accounts

Smart Accounts serve as the storage for assets on the Radix Public Network, providing users with a secure means to hold their tokens. Similar to accounts on cryptocurrency and DeFi networks, each Smart Account possesses a unique address for seamless token transfers. Moreover, Radix Wallet offers the convenience of managing multiple accounts with ease. Experience a reliable and efficient asset management solution with Radix's Smart Accounts on the Radix Public Network.

• One key feature built-in to Smart Accounts is the ability to allow multi-factor control, and multi-factor recovery of control (if one or more factors are lost by the user).

A factor serves as the source of a private key, which can be held in various forms such as the Radix Wallet on a user's phone, a seed phrase, a Ledger hardware wallet device, a Yubikey, and more. By combining multiple factors, we can establish strong security measures without burdening the user with the need to safeguard a single all-or-nothing seed phrase, reducing the risk of loss.

Smart Accounts enable multi-factor control and recovery through the use of a unique asset known as a "badge" expanding beyond the limitations of a single private key or seed phrase. This innovative approach enhances security while granting greater flexibility and control.

• Smart Accounts can also incorporate preferences for desired behavior. 

For instance, they can be configured to accept deposits of unknown tokens if the user prefers, for example, to receive random airdrops. Conversely, users can choose to reject these airdrops, opting to exclusively receive tokens as a response to approved transactions. This flexibility provides users with greater control over their account settings, allowing them to tailor their experience to their specific needs and preferences.

Personas and identities

Personas offers a seamless and secure login solution for Web3 dApp websites, eliminating the need for passwords. Moreover, personas empower users to selectively share their personal data with websites, ensuring control and privacy.

Personas are created within the Radix Wallet, allowing users to effortlessly log in to Radix dApps by simply choosing the desired Persona. Each Persona possesses a distinct identity, complete with a designated name and the ability to customize shared data such as email address, phone number, and mailing address.

Radix Connect

Radix Connect is a technology that empowers the Radix Wallet to deliver an immersive mobile-first experience. It enables users to access DeFi and Web3 dApp websites on desktops, ensuring a seamless and intuitive experience across platforms.

For users, there is an easy one-time setup flow to link the Radix Wallet on their mobile phone to their desktop browser. The Radix Connector desktop browser extension offers a quick QR code scan to pair with the mobile Radix Wallet. Whenever a dApp website seeks to connect, an automatic connection is established to ensure seamless integration.

This connection is secured with end-to-end encryption, ensuring that messages cannot be read by anyone else. Additionally, it operates on a peer-to-peer basis, eliminating the need for a central server to relay messages.

Radix Wallet

Introducing the brand-new Radix Wallet designed exclusively for DeFi and Web3.

The Babylon update of the Radix Public Network will bring forth this revolutionary wallet, ensuring enhanced functionality and usability. 

The Radix Wallet for Babylon is a cutting-edge mobile application available on iOS and Android.

It offers a comprehensive solution for managing accounts and securely holding a wide range of assets on Radix. Not only that, it provides a seamless and robust method of logging into Web3 applications, even on desktops, eliminating the need for passwords. With this remarkable wallet, you can confidently view and sign transactions with ease and convenience.

Human readable transactions 

Gone are the days of blindly signing transactions. Now, users are presented with comprehensive overviews that provide a clear understanding. With human-readable transaction descriptions, you can see exactly where your funds are being sent and what they’re being used for. 

There's no need to place blind trust in mere "hashes" and hope for the best. The network guarantees that the manifested outcome aligns with expectations; if not, the transaction fails completely, ensuring zero impact on users. This revolutionary approach minimizes the risk of sandwich attacks and dramatically reduces MEV attack vectors.

Radix Official Website: https://www.radixdlt.com/