- Cardano announce the launch of the Daedalus Rewards Wallet
- What is the reward for stakes?
Cardano, one of the major proof-of-stake (PoS) blockchain projects, recently released the Daedalus Rewards wallet that permits its users to stake ADA tokens in the Shelley testnet. The announcement was made by the Input-Output Hong Kong (IOHK), which is the research company behind Cardano owned Charles Hoskinson.
In an official tweet, the company stated:
“Last week, we successfully spun up the Incentivized Testnet network and opened it up for stake pools to join and connect. It’s only been three days but we are thrilled to report that we already have over 300 established stake pools, ready for you to delegate to!”
@InputOutputHK on Twitter confirmed the news in a tweet that went thus: “it is here. The Daedalus Rewards wallet for the Shelley Incentivized Testnet is now available to download. Choose a pool, delegate your stake and earn real ADA rewards, starting right here https://buff.ly/2GEd8VT #CardanoCommunity #ADA.”
The staking tool in the Shelley testnet began on December 13, 2019. This network is different from the main one, users will be able to spend the ADA tokens earned after the end of the testing period. Presently, they can allot their tokens to existing pools or serve as pools themselves.
Since the launch of Shelley, over 240 betting pools have been linked to the network, and on the first day of operation, about 120 betting pools were involved according to Cardano’s tweet. The aim of IOHK is to attain1000 betting pools. Currently, Cardano has surpassed EOS and Tron, the major assigned proof-of-stake (DPoS) networks, by the number of staking pools.
What is the reward for stakes?
Going by the official reward calculator, users who allot 100,000 ADA (about $3,382) for staking can envisage a yearly return on their investment. The amount will equal about 7.17% or $242. The launch of the key Shelley network should commence in early 2020. As of the time of launch onward, users who have no test network token will be able to participate in staking.
Hence, within 24 hours after the launch of the Cardano test network, ADA holders won over 5 billion ADA coins worth about $ 195 million. It was recently reported that the AdaPay payment system has been launched by Cardano. This payment solution will permit swift ADA payments in 35 traditional currencies.
Cardano (ADA) Price Today – ADA / USD
By executing such an incentive device, Cardano is stirring towards decentralizing the network, which seems to be the major purpose of the Shelley era. As of December 15, there were over 240 pools available for staking. Cardano wants its figure to increase to at least 1,000 to attain the needed level of decentralization.