Cardano’s Shelley incentivized testnet will launch in November

2019-10-26 11:02

The incentivized testnet of Shelley, the next iteration of the Cardano blockchain, is set to roll out in November. Users on the incentivized testnet will be able to earn real ADA rewards from staking that will be moved to the mainnet once Shelley officially rolls out.

Shelley’s complex PoS protocol requires serious testing

After teasing its tight-knit community with the launch of an incentivized testnet for the next iteration of Cardano, IOHK has finally released more details on its blog post. The ambitious research-oriented blockchain has frequently been on the receiving end of harsh criticism due to its slow development process but seems to have picked up the pace after celebrating its second birthday earlier in October.

Earlier this year, the company launched a testnet for Shelley, a new era of the Cardano blockchain that will bring about staking, and is now set to roll out a new, incentivized version. According to Dynal Patel, senior product manager at Cardano, joining the incentivized testnet will enable all ADA (ADA) holders to earn real ADA rewards.

he wrote in a blog post:

“This marks an acceleration in the Shelley testnet, and in Cardano’s development.”

Patel explained the company decided to launch an incentivized testnet in order to ensure Ouroboros runs smoothly. Ouroboros is an advanced proof-of-stake (PoS) protocol that the company is currently working on. However, the complexity of such a protocol requires “stable and robust foundations,” Patel said, which is why IOHK chose to implement it in an incentivized testnet first.

This testnet will enable IOHK to see how Cardano’s incentive mechanism operates in a real-world environment.

Anyone can take part in the incentivized testnet

According to Patel, the incentivized testnet will begin with a snapshot of all the ADA balances held across the mainnet. Any user who holds or transfers their ADA to one of several approved wallets at the time of the snapshot can participate in the incentivized testnet.

(Source: IOHK)

While the date for the snapshot is yet to be set, Patel confirmed that it will happen sometime in November. To ensure all users are adequately prepared, there will be a test snapshot before the final one.

After the snapshot is completed, users will be able to access their testnet wallets the same way they would access their mainnet wallet. Special testnet Daedalus and Yoroi wallets that are visually distinct from their mainnet counterparts will be available, Patel said.

Users will then be able to choose how to use funds from their wallets on the incentivized testnet—to delegate or operate a stake pool. The ADA they earn in the testnet cannot be spent, but it will be transferred to the mainnet once it launches.

While delegating will require no technical skills, the company said that running a stake pool will require “some technical know-how.” Patel explained in the blog post:

“Stake pool operators should be comfortable with command-line interfaces and have some system operation and server administration skills.”

For those less familiar with staking, detailed documentation on how to run stake pools will be provided.

Users will be able to calculate the approximate rewards for delegating and operating stake pools on a calculator that will be hosted on a dedicated web page. The exact launch time for both the calculator and the timing for November’s balance snapshot will be announced in the following weeks.

The post Cardano’s Shelley incentivized testnet will launch in November appeared first on CryptoSlate.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Cardano (ADA) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.576
Капитализация $0 Rank 99999
Цена в час новости $ 0.044792 (-100%)

shelley testnet incentivized cardano november launch out

shelley testnet → Результатов: 16


Cardano team reveals details about the incentivized testnet that will bring staking to the network

In a live AMA session led Cardano’s senior product manager David Desser, the company’s team revealed the current status and plans for the launch of the Shelley incentivized testnet. Shelley’s incentivized testnet off to a great start Ambitious research-oriented blockchain Cardano celebrated its second birthday this month, the two years of extensive research culminating in […] The post Cardano team reveals details about the incentivized testnet that will bring staking to the network appeared first on CryptoSlate.

2019-10-13 18:26


Cardano’s Shelley a step towards decentralizing entire network: Charles Hoskinson

Recently, Cardano transitioned into the Shelley-era with the launch of its networking testnet. CEO of IOHK, Charles Hoskinson, elaborated on the same during his latest AMA. Hoskinson informed the community that the testnet was receiving remarkable participation as the network currently runs about 100 stake pools and the stake pool channel consists of about 2,400 […] The post Cardano’s Shelley a step towards decentralizing entire network: Charles Hoskinson appeared first on AMBCrypto.

2019-10-7 19:00


Фото:

Cardano (ADA) Launches Shelley Network Testnet 

Cardano (ADA), the 12th largest distributed ledger technology (DLT) project in the world, has achieved another significant milestone in its journey towards full decentralization. The Cardano team has successfully launched the networked Shelley testnet, which it says is the first decentralized implementation of the Ouroboros Genesis consensus algorithm, according to a blog post on SeptemberRead MoreRead More.

2019-9-28 09:00


Cardano’s Shelly Testing Program Official Rolls Out, Here Are Some Safety Tips Provided

In a recent tweet made on Friday, June 21, the Cardano Community finally revealed the Shelly “testing program”, which the team deems is the initial step to the Shelley TestNet. https://twitter.com/cardanostiftung?lang=en According to the claims made, the Cardano Shelly TestNet is a tool for ADA users and developers to experiment with staking – a process […]

2019-6-22 19:23