ADA Gains Foothold in the Decentralized Space as Cardano Plans Launch of the Incentivized Testnet for Shelley

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The formidable Cardano project just celebrated its second anniversary this month after two years of extensive research that led to the launch of their new Testnet, called Shelley.

Cardano Team recently held an AMA interview to respond to users’ questions about the new Testnet and the incentives. The AMA was conducted by David Esser and a few other members of the Cardano project.

According to Esser, Cardano had a few really good weeks recently and the implementation of the new Jörmungander node had a really nice community response.

Most Cardano users were really interested to know what kind of benefits they would get from the Testnet. The team has stated that they will be taking a snapshot of the blockchain to determine the number of users and ADA in it.

The ADA coins stuck in the Testnet are actually not spendable, meaning that users cannot technically use them, however, they will earn some rewards which will not be automatically transferred to the Mainnet.

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Cardano will run their own staking pools in the new Testnet, which means the network won’t be delegated only to Cardano users.

Esser also stated that the Cardano team is working hard with some of the best crypto exchanges to offer the staking support for ADA in the near future but didn’t reveal any specific details.

The return rate of rewards from the staking pool will be fixed for everyone. The amount of ADA in the pool will not change this. Esser commented on the possibility of setting the reward to around 12% percent to allow Cardano to compete with the other top cryptocurrencies offering staking.

Cardano users will also have the option to delegate their ADA coins to more than just one staking pool which means they will be able to maximize their profit as rewards will very likely diminish over time.

The third phase of the Testnet will be coming out next week according to the Cardano Team. Additionally, a special version of the Daedalus wallet will be released.

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