Cardano’s Shelley testnet enters November’s final phase, letting users earn ADA

Cardano's Shelley testnet enters November's final phase, letting users earn ADA

Charles Hoskinson: Series of innovations coming for Cardano (ADA)

Input Output Hong Kong (IOHK), the company behind Cardano (ADA), has announced that in November the last phase of the Shelley test grid in which users will be able to earn ADA.

In September, the first phase of the test network for Shelley was launched, which is part of the switch to a fully decentralized network using Ouroboros, an advanced proof-of-stake (PoS) protocol.

The final phase of the Shelley test network will start in November and will give users the opportunity to earn ADA by stopping. IOHK reports that in principle everyone can participate, as long as your ADA is in the right wallet at the time of the snapshot.

The tweet shows which wallet that should be in: no hardware wallet or a cryptocurrency exchange, but Daedalus or Yoroi, special wallets for Cardano. Exactly when the snapshot will be executed is still unknown, but it will be somewhere in November.

Rewards on the Shelley test network cannot be used immediately but will be transferred to the mainnet when it launches. The amount of ADA that can be earned in this way can be calculated with a special calculator that IOHK will soon release.

The blushing post states that strike requires some technical knowledge. This does not apply to delegating, or the delegation of strike. Delegating a strike means that someone delegates his voting rights and merits from the strike to a trusted party in exchange for a share of the profit. No technical knowledge is required for this.

About Shawn Morrison 266 Articles
One of the founders of BitzArena. Active with crypto currency since the rise of the bitcoin. Loves the innovative character of crypto and blockchain technology, and follows developments in the market closely. Likes to connect technology with business, and likes to make difficult concepts accessible to a wide audience.

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