Step 1: Concept
Papain is a proteolytic enzyme obtained from the latex of the unripe fruit of Carica papaya.
Step 2: Meaning
Hydrolases are enzymes that catalyze the cleavage of chemical bonds (like peptide bonds) through the addition of water (hydrolysis).
Step 3: Analysis
Since papain breaks down proteins into smaller peptides or amino acids by hydrolyzing peptide bonds, it belongs to the class of hydrolases.
Step 4: Conclusion
Papain is functionally and chemically classified as a hydrolase.
Final Answer: (B)