Cardano: Shelley test network is Staking from November
After the successful launch of the Shelley-test network last week Cardano users starting in November can begin ADA earn, if the network starts with all the functionality of the Staking Protocol unlock. The Launch of the Mainnets to be held in the first quarter of 2020.
On Thursday IOHK announced the launch of the Shelley-test network the first step in building a network, the “is 50-100 times more decentralized than other large block chain networks” such as Bitcoin. According to the information provided by the development team, it will have only a “fraction of the energy cost of equivalent Proof-of-Work block chains, and the power equivalent of a single house and not a small country” use.
Charles Hoskinson, CEO of IOHK spoke on Saturday in Plovdiv, Bulgaria, to celebrate Cardanos second anniversary, and designed a comprehensive Vision for the public Blockchain. On the Cardano Summit Bulgaria Hoskinson said that the Cardano project is on the right path, in order to launch the test network until November. With the Start Stake to be able to Pool register and the Staking enabled. The Staking Protocol is part of the Work for the Shelley-Phase. After the successful launch of the test network on Thursday, the next step is to start Testing with real users, said David Esser, a Senior Product Manager from Cardano.
Each ADA-holder will be eligible to participate. The test network will be a Snapshot of the “real” Blockchain in a test environment. However, to be involved in the “right” to ADA. The Plan is to create in the coming months, a Snapshot of the Cardano network, wherein the user, the ADA either in a Daedulus or Yoroi – Wallet, your credit on the test network can transmit.
“As soon as the snapshot has been made, you can delegate Token in the test network,” said Esser. Those with the ADA on a stock exchange or in a Ledger-keeping Wallet, will not be able to transfer your balance to the test network, just as users who buy ADA after the date of the snapshot. A date for the Snapshot, however, is not yet known.
The annualized return for the Staking to be between 3% and 12%. Esser said at the Summit that he wants to make no precise indication of how much the owner could earn on the advertised test network, but he said competition would be “really capable of”.
What’s next?
On the Cardano Summit Bulgaria Hoskinson also said that in the course of the year 2020 will be gradually added new functions in the case of Cardano. Visionary Japanese Hoskinson said:
If we do so, I have the firm Conviction that Cardano will be the most useful crypto-currency in the market. But are we done? No. Because we need to scale. We need to go beyond a few hundred TPS (transactions per second). We need to go beyond the capability to send a few thousand transactions per hour. We need to be able to reach in a world in which Cardano realistic million way, to billions of people over a period of time to operate.
Hoskinson says that he and his Team will be through a process of rigorous Peer-Review able to accelerate Cardano “on most, if not all, of the currently on the market and coming on the market in crypto currencies and beyond”. According to the current forecasts, it is expected that the will be published a first Version of the Mainnets in the first quarter of 2020. According to Esser, there are no plans to leave the test network according to the Mainnet deployment continue to run.
Featured Image: Akarat Phasura | Shutterstock
