Cardano Hits Milestone On Shelley Testnet In 4 Days – 200 Stake Pools Are Up And Running

Cardano made headlines recently when it’s been revealed that IOHK, the company behind Cardano, is releasing Shelley between June 30th and July 7th.

Charles Hoskinson said the following:

“July 7th is our backup for that candidate that we release, that you guys will download, but if everything goes without a hitch, June 30th will be the date we ship that, so there’s gonna be a week range…” he said.

The upgrade aims to transform Cardano into a fully decentralized proof-of-stake network.

This move will also introduce a reward system for ADA holders – they can earn crypto by helping to power the network.

The testnet for Cardano has 200 active stake pools

It’s been revealed a few days ago that the testnet for Cardano has 200 registered active stake pools up and running.

Cardano is the blockchain that is powering ADA, and it allows uses to send and get funds securely without the need of third parties being involved.

With Shelley, the team behind the open-source crypto project is anticipating that Cardano will become more decentralized than any other existing network, moving it beyond the control of any group, company, or central authority, as reported by the online publication the Daily Hodl.

It’s worth noting that Shelley reached the milestone of 200 users only four days after it opened its doors to the whole ADA stake pool community.

Tom Harrison, the marketing and communications director at Input Output Hong Kong (IOHK),  revealed the achievement.

Previously, the testnet had been in a “friends and family” testing stage.

The fact that Shelley introduces staking will allow holders of ADA to help power the network in exchange for rewards.

Check out more info on the subject in the original article.

Regarding ADA’s price today, at the moment of writing this article, ADA is trading in the red and the coin is priced at $0.080308.


Companies Mentioned

CoinMarketCap
CoinMarketCap

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

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Andreas Townsend Author

I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.

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