According to ChainCatcher news reported by The Block, Botanix Labs announced the launch of a new testnet for its Bitcoin Layer 2 network 'Spiderchain'. The release, named 'Aragog Testnet', replaces the company's previously unnamed test network and is accompanied by multiple 'pre-mainnet' applications, including updates to the Bitcoin-backed stablecoin Palladium and the decentralized exchange Blitzy.
The team stated that Aragog will be the 'final step' before the network launches its mainnet in the first quarter of 2025. In addition to receiving an official name, Aragog will introduce a series of technological innovations. This includes an early experiment using Schnorr threshold signatures, a cryptographic technique that combines multiple key holders into a single multisignature address, thus saving bandwidth and reducing the likelihood of errors. Furthermore, while 'testnet v0' was run by Botanix Labs using a single node, Aragog will distribute nodes globally.
