“The ribosome is a ribozyme”—there is no peptidyl transferase enzyme! This remarkable feature was revealed by the high‐resolution crystal structure of the large subunit of the ribosome, which shows that peptidyl transfer, the reaction by which peptide bonds are made, is RNA‐catalysed. (The picture shows active‐site nucleotides and the tetrahedral carbon atom of a proposed reaction intermediate.) This finding elevates ribozyme catalysis to central importance in the cell, performing one of the main reactions of life processes, and may represent a kind of “molecular fossil” of an earlier RNA world.