- The Cardano Incentivized Testnet has grown to 19,265 active users and 920 active stake pools and 1,226 registered pools.
- For the Cardano Wallet Daedalus, Flight Candidat 5 was released with many new features.
The Shelley Incentivized Testnet (SIT) was launched on December 9th last year and has grown strongly since then. Already within the first 48 hours more than 240 stake pools have been formed and more than 5.4 billion ADA, almost 17 percent of the total supply, have been delegated. The SIT is an environment where ADA owners can earn real rewards by delegating their stake or operating a stake pool.
Input Output Hong Kong (IOHK), the Cardano development company, has released a new report showing that the SIT already has 920 active stake pools and 19,265 active users. Since the launch, more than 12.62 billion ADAs have been stacked. The Cardano community has also been instrumental in the development of the SIT and has provided valuable feedback to the developers. IOHK describes this as a strong foundation on which Shelley Mainnet can build:
We've seen another great week of growth for the #Shelley ITN, our incentivized, decentralized Proof of Stake testnet. We're now seeing 920 active pools, over 12.6B #ada staked and over 19k active users. Great foundations for Shelley on mainnet! #Cardano #decentralization @Cardano pic.twitter.com/nRkoEYTyOT
— Input Output (@InputOutputHK) April 22, 2020
Charles Hoskinson praises the fact that the developers implement many updates, an average of 2,600 per week, and that they are driving development towards Shelley Mainnet and Goguen. Hoskinson also described in a recent video update that Cardano has the best code in the industry, guaranteed by regular reviews, developer meetings and high testing standards.
Furthermode Hoskinson informed all Cardano wallet users about how the wallet migration from Byron to Shelley and how the rewards from SIT will work, as there have been some misunderstandings around the upcoming update recently. With Shelley Cardano introduces a new address type, BECH32.
In the course of the release of Shelley all Cardano wallets will migrate to BECH32, because only then all ADA owners are able to participate in the Proof of Stake by delegation and voting. Furthermore all rewards from the SIT have to be transferred to the Mainnet. According to Hoskinson, this process should be easy and fast to handle:
All the staking rewards are aggregating into the UTXO of the ITN. We have an algorithm which will scan the UTXO and then create a snapshot of all the rewards. When Shelley is launched the snapshot will be appended to the Cardano blockchain. […] In Daedalus there will be a button to redeem ITN rewards. Users must enter their ITN wallet recovery phrase. It will then rotate user funds to a wallet on Shelley. We could technically reuse the recovery phrase or create a new wallet.
Flight Candidate 5 for Daedalus and price update
The Cardano wallet Daedalus will receive a new update “Flight Candidate 5”, which will be rolled out by the end of the week. Daedalus Flight is a pre-release version of the Daedalus Wallet, which will be released in Mainnet this week.
The Cardano (ADA) price follows the current market trend and recorded a plus of 4.63% to a price of $0.0372 within the last 24 hours. With a market capitalization of $1.14 billion, Cardano ranks 14th among the largest cryptocurrencies.
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