Through more than 381 participation groups, the Cardano’s Shelley incentive testing network reached the milestone of ADA 8 billion
According to the PoolTool website, the total number of stakes carried out in the new incentive test network (Testnet Incentivized) of Shelley, already reaches 8 billion ADA. With a current price of USD $0.03426 for each ADA, the figure reached has a value of approximately USD $274 million at the time of writing this note.
Even, media like The Daily Hodl, reviewed the fact when Testnet Incentivized had already reached 7.5 billion ADA.
Other media, such as Crypto News Flash, reported that so far there are 381 participation groups through which the milestone was achieved.
Cardano test network reaches 8 billion ADA
The participation mechanism or Staking, according to The Daily Hodl, allows those who own ADA to help boost the network and process transactions in exchange for rewards. According to the medium, it is a drastically different method of the Bitcoin work test process, adding the potential to allow a significant increase in the volume and speed of transactions.
For Charles Hoskinson, CEO of IOHK, the company behind Cardano, Testnet Incentivized “has been a resounding success.” Even Hoskinson said he is “surprised” by the answer.
“We are very excited for the overwhelming response. When we planned this, we said that we would probably have 25 to 50 independent interest groups beyond the infrastructure of Emurgo, IOHK and CF [Cardano Foundation]. Now we are seeing around 340 that have been registered. We have already exceeded that saturation point of 100.”
“So it is quite surprising to see the overwhelming response, and it is quite surprising to see the level of enthusiasm and passion that people have.”
Hoskinson has a good attitude
According to Crypto Flash News, Hoskinson was optimistic and hopes that by mid-year the number of participation groups will reach 1,000 registered groups, one of the objectives of its roadmap for 2020.
Cardano aims to move ADA quickly and efficiently, allowing you to send and receive money worldwide through a secure and decentralized public blockchain. Currently, The Daily Hodl said, IOHK is in error correction mode and plans to release an update today.
According to Hoskinson, support tickets are being sent at a rapid pace although Cardano users report several synchronization and integration problems. He also said that the update process is dispersed due to the holiday season, but expects the improvements to be rationalized in January:
“On 23, we are going to make a launch. We will probably change the way we make releases beyond that. Therefore, we will probably do scheduled releases or something like that so our DevOps and quality control people have time to review the releases.
The good news is that the network seems to be somewhat stable although it has its details. We have to reset nodes here and there. We are adjusting and optimizing certain things, and the reality is that only good old-fashioned coding will be needed to clean these things. Then, as we move forward in January, we will see a considerable improvement in stability and other similar things …
Looking at the records on our side, it is a long and unbroken network. We have not experienced an important fork and the uptime is still there for all these nodes. ”
Testnet Incentivized was activated on December 16. By that time, more than USD $ 195 billion was expected to be invested in the network to generate rewards.