Decentralized ledger platform Radix Publishing has celebrated the successful completion of its long-anticipated Babylon mainnet upgrade.

The Babylon upgrade represents the end of the Olympia era and has been hailed by Radix as a game-changing moment for Web3 and the wider DeFi space.

The Babylon mainnet upgrade has been described as a “substantial update” to the Radix Network mainnet, enabling the deployment of Scrypto-based smart contracts and a wide swathe of new technologies and features, most notably, the Radix Mobile Wallet.

“With the Radix Babylon Upgrade complete, the Full Stack for DeFi has come together for the first time, ushering in a new beginning for both existing users, as well as those who were hesitant to embrace DeFi and Web3. A new ecosystem awaits – an ecosystem where builders can intuitively build and launch powerful and secure dApps, and where our friends, family, and colleagues can confidently use them” said Piers Ridyard, CEO, RDX Works.

Among the refinements supported by Babylon are the Radix Engine v2 virtual machine, DeFi transaction previews that are human readable, a decentralized royalty system for developers and smart account components, as well as an on-ledger catalog of Scrypto-based blueprints.