The report was shared some hours ago via the Twitter handle of “Input Output”, which can simply be abbreviated as IHOK. According to the tweet, this new development will give ADA holders the opportunity to earn the digital token ADA rewards in the course of taking part.
The tweet reads thus, “The Shelley Incentivized Testnet is now live, giving ada holders the opportunity to earn real ada rewards just from taking part. Delegate to a choice of over 284 stake pools a click away from the Daedalus Rewards v1 wallet, available for download today.”
The Shelley Incentivized Testnet is now live, giving ada holders the opportunity to earn real ada rewards just from taking part. Delegate to a choice of over 284 stake pools a click away from the Daedalus Rewards v1 wallet, available for download today https://t.co/sbeVQrhiwV pic.twitter.com/xeL5H5gtRd
— Input Output (@InputOutputHK) December 17, 2019
Herald Sheets reported a few days ago about over 150 staking pool registrations accrued on the network before the Shelley Incentivized Testnet finally went live. Back then, the action was majorly termed as readiness and determination of the users.
What’s Next as Shelley Incentivized Testnet Goes Lives
The Cardano’s Shelley Incentivized Testnet Phase has kickstarted. This phase serves as a test to Shelley, the invention expected to bring about the full decentralization of the Cardano network before it’s integrated into mainnet in the coming year.
The idea of the testnet is based on testing the incentivization in the real-world context. In the process of testing, the ADA holders will be enabled for rewards in ADA by delegating stake or running a stake pool.
The snapshot for the incentive was taken at 12:00 UTC on 29th November 2019. Any user holding ADA in a Yoroi or mainnet Daedalus wallet at that time can now order the restoration of testnet ADA balance. Such a user is now enabled to access delegation features. The user can also run the stake pool for ADA rewards as aforementioned.
The Necessity of Incentivized Testnet
According to the information inferred from Cardano official website, the Incentivized Testnet gives room for testing what couldn’t be done in the earlier testnets.
Testing Shelley with real behavior will result in rewards. The two options needed to earn rewards in ADA are already stated above. Also, only users that hold ADA will be allowed to participate in the Incentivized Testnet.
Cardano (ADA) is on a determined mission of building a decentralized network of participants around the world. In the course of this Incentivized Testnet, data will be collected and properly treated, in order to create a fair and perfect incentive mechanism in the future.
This development and the progress of the process of this Incentivized Testnet have really boosted the hope of many Cardano enthusiasts. The CEO, Charles Hoskinson is as well motivated as things unfold. He was able to forecast big success for the Cardano ecosystem in the coming year a few days ago, tagging “Cardano a beast among its contemporaries come 2020.”