Botanix Labs has recently launched its Bitcoin layer-2 mainnet, protected by a decentralized federation of 16 non-custodial node operators. With this launch, new live applications like GMX and Dolomite are now fully using the Bitcoin network. Since going live on December 20, 2024, Botanix has successfully traversed more than 26 million testnet transactions.
The success of the mainnet is bolstered by notable node operators such as Galaxy, Fireblocks, and Antpool. The network provides a very cheap money transfer service, with average fees of $0.02. Botanix uses as its base architecture a unique “Spiderchain” architecture, which uses a new cryptographic primitive to establish a spiderweb of multisig wallets.
This Spiderchain architecture secures the network independent of a single custodian, increasing security and trustlessness. It lowers Bitcoin block times to around five seconds and obtains sub-cent transaction fees. That layer-2 solution is the Lightning Network, which enables near-instantaneous and cheap transactions across the Bitcoin network.
Willem Schroé, CEO and Co-Founder of Botanix Labs, hailed the benefits of decentralization. He called decentralization a real decentralization because it allows real tools to be placed into Bitcoiners’ hands. By scaling the network, Botanix powers a world that runs on Bitcoin.
Botanix’s Spiderchain architecture is structured around a system of interlinked, multi-signature wallets. Their design removes any expectation of a central authority. Each transaction is validated by the consensus of thousands of different node operators, drastically improving security and eliminating single points of failure.
The mainnet launch is a really exciting milestone in scaling Bitcoin. This is enabling new, more sophisticated financial applications to be built on top of the network. Developers are drawn to the platform due to its low fees and short transaction times, creating an appealing and desirable space for users.
