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Botanix Lab launches the final testnet for Spiderchain, and the Mainnet will go live in Q1 next year.
PANews reported on December 4th that Botanix Labs announced the launch of a new Testnet for its BTCLayer2 network “Spiderchain”. The newly released “AragogTestnet” replaces the company’s previously unnamed Testnet, and comes with several “pre-mainnet” applications, including the updated version of the BTC-supported Stable Coin Palladium and the Decentralization exchange Blitzy. The team said Aragog will be the “final step” before the network launches Mainnet in the first quarter of 2025. In addition to earning its official name, Aragog will launch a series of technological innovations. This included an early experiment with signatures using Schnorr thresholds, an encryption technique that “federates” multiple Secret Keyholders into a single Multi-signatureAddress, saving bandwidth and dropping the probability of error. In addition, while “testnet v0” is run by Botanix Labs using a single Node, Aragog will distribute Nodes globally.