DeFi-Focused Blockchain Radix Launches Its Alphanet

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The self-styled "asset-oriented DeFi" platform Radix has hit another key milestone on its roadmap with the launch of its Babylon Alphanet test network, which has gone live today. 

The first major update to the existing Radix Public Network that launched in December last year, Radix's Babylon Alphanet introduces the project's application development environment Radix Engine, which is said to be the world's first programmable DeFi engine. Also new is Scrypto, the first asset-oriented programming language for smart contacts. There are plenty of other new capabilities too, including a new, asset-oriented transaction model and changes in how wallets interact with the Radix network. 

The introduction of Radix Engine is a long-awaited development as it will finally give developers the tools they need to get building on Radix. The key promise of Radix is "radically different DeFi", as it's architecture makes it possible to build DeFi applications using "components" and "blueprints", which can be thought of as reusable building blocks. The basic idea is that, rather than writing masses of smart contract code for every single function within a DeFi app, developers can simply take these pre-written components and blueprints that represent different functions, and piece them together to build applications more easily. Not only that, but because the components are reusable, they're also far more secure than traditional smart contracts.

“After the $3 billion lost in DeFi hacks of the $50 billion market cap, more and more people are starting to realize the difficulty associated with building. I would call it ‘demo DeFi’” said Piers Ridyard,