- The long-awaited Cardano Shelley testnet launched today
- The benefits Shelley testnet is set to bring to the crypto space.
- How Cardano will benefit from this launch
On June 21st, the Cardano foundation unveiled that Shelley’s testnet will be live. The Shelley update is supposed to steer the project to be fully decentralized and autonomous; making it the most decentralized systems there is in the market with 1000 staking pools. Towards the end of 2018, Charles Hoskinson – project co-founder, confirmed that Shelley update would be up and running by the first quarter of 2019. Well, after several postponements, the long wait has come to an end as Shelley’s testnet launched today.
Cardano Shelley testnet launched successfully
Shelley will include various developments including multi-signature transactions, paper wallets, light client mode, wallet backend, quantum resistance, networking, and human-friendly addresses, all of which are features to be incorporated in the update.
ADA users can now experiment swift staking and assist in the build-up of a collection of stake pools on Cardano. With staking, the stakeholders can combine their funds to form a pool on Cardano, which means that more entities can engage in the protocol, thus contribute to maintaining the ledger. This is a great development in preparation for the time when the community will have full responsibility for the blockchain.
The Shelley testnet is set to be rolled out in phases. The first phase will provide the ability to host a rust self-node. Here you can establish basic configuration as you observe how the stake pools operate. On the second phase, the nodes will be unified to form a single testnet and the final phase delegation, and incentive scheme will be added as a way to reward participants for honest participation.
