PANews reported on December 4 that according to The Block, Botanix Labs announced that it is launching a new testnet for its Bitcoin Layer2 network "Spiderchain". The release, called "Aragog Testnet", replaced the company's previously unnamed testnet and was launched along with multiple "pre-mainnet" applications, including the Bitcoin-backed stablecoin Palladium and an updated version of the decentralized exchange Blitzy.
The team says Aragog will be the "final step" before the network launches its mainnet in the first quarter of 2025. In addition to getting an official name, Aragog will also introduce a series of technical innovations. This includes an early experiment in signatures using Schnorr thresholds, a cryptographic technique that "unions" multiple key holders into a single multi-signature address, saving bandwidth and reducing the probability of errors. In addition, while "testnet v0" was run by Botanix Labs using a single node, Aragog will distribute nodes around the world.
