Botanix Labs has announced that it is launching a new testnet for its Bitcoin Layer2 network, Spiderchain. Called Aragog, the launch replaces the company's previously unnamed testnet and is accompanied by several "pre-mainnet" applications, including the bitcoin-backed stablecoin Palladium and an updated version of decentralized exchange Blitzy.
The team says Aragog will be the "final step" for the network before it launches its mainnet in Quarter 1 in 2025. In addition to getting the official name, Aragog will also introduce a series of technological innovations. This includes an early experiment with signatures using Schnorr thresholds, a cryptography technique that "federates" multiple key holders into a single multi-signature address, thus saving bandwidth and reducing the probability of errors. Also, while "testnet v0" is run by Botanix Labs using a single node, Aragog will distribute nodes globally.
Botanix Lab launches final testnet for Spiderchain, with mainnet launching in Q1 next year
2024-12-04 15:53:56
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