Golden Finance reports that Botanix Labs announced that it is launching a new testnet for its Bitcoin Layer 2 network “Spiderchain”. The launch, dubbed "Aragog Testnet," replaces the company's previously unnamed testnet and is accompanied by multiple "pre-mainnet" applications, including Bitcoin-backed stablecoin Palladium and decentralized exchanges An updated version of Blitzy. The team stated that Aragog will be the “final step” before the network launches mainnet in the first quarter of 2025. In addition to receiving its official name, Aragog will also introduce a series of technological innovations. This includes an early experiment with signing using Schnorr thresholds, a cryptographic technique that “unifies” multiple key holders into a single multi-signature address, thus saving bandwidth and reducing the probability of errors. Additionally, while “Testnet v0” is run by Botanix Labs using a single node, Aragog will distribute nodes globally.