Cardano’s ADA-Earning Testnet Is Coming Out in November, IOHK Confirms
Input Output Hong Kong (IOHK) – the R&D firm behind the Cardano (ADA) blockchain project – on October 27, 2019, tweeted details about Cardano’s upcoming incentivized testnet to test the real-world scalability and viability of its advanced proof-of-stake (PoS) protocol – Ouroboros.
The Testnet Will Be Out in November
According to the tweet, Cardano’s incentivized testnet will be rolled out in November 2019 which will allow the participating users to earn real ADA rewards from staking their digital holdings. Per sources close to the matter, anyone can take part in the incentivized testnet.
Reportedly, the ADA rewards earned from using the testnet will be moved to the mainnet once Cardano’s Shelley phase goes live successfully.
Dynal Patel, senior product manager, Cardano, expressed his enthusiasm over the upcoming release of the incentivized testnet saying that the development “marks an acceleration the Shelley testnet, and in Cardano’s development.”
The need for launching an incentivized testnet stems from the complexity of the Ouroboros protocol, Patel noted.
For the uninitiated, Ouroboros is an advanced PoS protocol that the Cardano team is currently focused on. Patel said that due to the protocol’s technical complexity, there’s a need for “stable and robust foundations” which is why the team decided to move ahead with a reward-earning iteration of the testnet.
How Does it Work?
As mentioned earlier, anyone can choose to participate in the Ouroboros testnet. Patel stated that the testnet will begin with an official snapshot of all ADA balances held across the Cardano mainnet. Users who hold or transfer ADA in one of the following approved wallets at the time of snapshot will be able to take part in the incentivized testnet.
While the exact date for the launch of the testnet is yet to come out, Patel affirmed that users will get ample time to prepare for the final snapshot before the launch of the testnet. He confirmed that it will be launched sometime in November 2019.
Cardano Going Slow but Solid
Cardano is one of the few projects in the smart-contract space that is giving Ethereum (ETH) and Tron (TRX) a run for their money. Despite the often-criticized slow and steady progress in the ecosystem, Cardano hodlers are confident that the Shelley upgrade will propel the distributed ledger technology (DLT) project right above the existing heavyweights in the space.
That said, the importance of the Shelley upgrade for the project cannot be understated. Notorious for being one of the most tech-heavy projects in the industry, Cardano’s Shelley upgrade is perhaps the most important milestone in both its short and long-term roadmap.
BTCManager informed its audience on September 28, 2019, how Cardano had successfully launched the networked Shelley testnet, marking the first decentralized implementation of the Ouroboros Genesis consensus algorithm.