Botanix Labs has launched Botanix on testnet as a federated sidechain constructed on Bitcoin with a 16-node founding federation that features XBTO, Fireblocks, Antpool, UTXO Administration, and different entities (full listing under).
The federation ensures that no single entity — together with Botanix Labs — controls the community. Botanix Labs has relinquished operational obligations, transferring governance and consensus to the node operators. The community plans to evolve right into a dynamic federation that helps lots of of nodes, with the long-term purpose of enabling anybody to run a Botanix node. The community’s mainnet is scheduled to launch later this quarter.
Willem Schroé, CEO and co-founder of Botanix Labs, acknowledged in a press launch that, “The Bitcoin economy cannot be built on centralized rails. With this 16-node founding federation, we’ve stripped out centralized control and laid the groundwork for a fully permissionless future.”
Botanix’s design emphasizes resilience, with geographically distributed nodes and completely different sorts of safety {hardware} to reduce single factors of failure. The purpose is to assist constant availability and uncensorable transaction processing, aligning with Bitcoin’s rules of safety and open entry. Their use of what they name the “Spiderchain” protocol allows Ethereum Digital Machine compatibility, permitting functions like lending and staking straight on the community with out wrapped belongings or bridges.
Philippe Bekhazi, co-founder and CEO of XBTO, commented, “Institutional interest in Bitcoin continues to grow, but that growth depends on secure, decentralized infrastructure that can meet the standards of professional markets.”
Bekhazi additionally famous XBTO’s dedication to supporting Botanix.
Based in 2023, Botanix Labs developed the Spiderchain protocol and initiated Botanix. With the community now independently operated, the lab focuses on analysis, developer instruments, and ecosystem assist. Botanix allows builders to construct monetary functions whereas sustaining Bitcoin’s base layer integrity.
The community’s decentralized construction helps scalability and safety for Bitcoin-related functions. As Botanix prepares for its mainnet launch, it goals to develop its federation and transfer towards additional decentralization.
The total founding Botanix federation contains Botanix, Galaxy, Fireblocks, Alchemy, XBTO, Antpool, UTXO Administration, Kiln, Refrain One, UndefinedXBlockPI, DAIC, Pier Two, Stakin, Vertex, Stake.fish, and Hashkey Cloud.
Bitcoin Journal is wholly owned by BTC Inc., which operates UTXO Administration, a regulated capital allocator centered on the digital belongings business. UTXO invests in a wide range of Bitcoin companies, and maintains important holdings in digital belongings.
