The latest Cardano news bring the topic of the incentivized testnet of Shelley, which is the next iteration of the Cardano blockchain – and how it is set to roll out this November. As the updates point, users of the incentivized testnet named Cardano Shelley will be able to earn real ADA rewards from staking that will be moved to the mainnet once the update officially comes to play.
IOHK has finally released more details about the Cardano Shelley update in an official blog post. The ambitious research-oriented blockchain has frequently been on the receiving end of harsh criticism due to its slow development process. However, it seems to have picked up the pace after celebrating its second birthday earlier in October this year.
What also happened earlier this year was the testnet launch for Cardano Shelley that the company launched. This marked the start of a new era where the Cardano blockchain will focus on staking through a new and fully incentivized version.
Dynal Patel, who is the senior manager at the firm, spoke about the Cardano Shelley incentivized testnet and how it will enable all ADA (ADA) holders to earn real ADA rewards. In the blog post, he wrote:
“This marks an acceleration in the Shelley testnet, and in Cardano’s development.”
Patel further explained that the company decided to launch an incentivized testnet so that it can ensure that Ouroboros runs smoothly. For those of you who don’t know, Ouroboros is an advanced proof-of-stake (PoS) protocol which the company is currently working on.
Still, the complexity of such a protocol requires “stable and robust foundations” as Patel said. This is why IOHK chose to implement the Cardano Shelley update in an incentivized testnet at first. As they announced, the testnet will enable IOHK to see how Cardano’s incentive mechanism operates in a real-world environment.
What’s also great is that the incentivized testnet will start with a snapshot of all the ADA balances that are held across the mainnet. Any user who holds or transfers their ADA to one or several approved wallets at the time of the snapshot can participate in the testnet.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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