Cardano News – Shelley’s ITN Keeps Growing Records 20,000 Users and 12.8 Million Stacked ADA – May 24th, 2020

  • Cardano Shelley Incentivized Testnet Continues to Grow With More than 12.8 Million Tokens Stacked
  • Over 20,000 Users Join Cardano’s ITN as the Team Moves Closer to the Shelley Mainnet Launch

Cardano News Today – Cardano launched the Shelley Incentivized Testnet in December last year. Since then, the testnet has recorded incredible growth. Just 48 hours after the testnet was initially launched almost 50 staking pools were established and more than 5.4 billion ADA tokens were delegated. This made up for more than 17% of the circulating Cardano in supply. Through the Shelley Incentivized Testnet, users who ran their staking pools or delegated tokens on the network could end rewards. Since then, the ITN has continued to make progress.

Cardano News Today – Cardano’s Incentivized Testnet Records Major Progress

The latest report from Cardano’s team showed that over 20,000 users have registered for the Shelley testnet since then. At the same time, more than 968 active staking pools have been activated staking over 12.82 billion in ADA tokens. All the participants have offered useful feedback which has been used to improve the network ahead of the mainnet launch. The Cardano development team has said that Cardano Shelley is already running on full speed on the ITN. About 60 new pool pioneers have been added to the team over the last 10 days. These pioneers will join the others who are powering the network and synchronizing the blockchain. Hoskinson said;

Cardano (ADA) Price Today – ADA / USD

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cardano
Cardano
$0.099

“Talking of new pioneers. This weekend, we’ll start inviting our next cohort of pioneers to join the program. This new intake has been hand-picked by our first pioneer group. From next week, our pioneers will mentor this new cohort as they use those initial 5 exercises to get started. They’ll be mentored and supported as they bring their pools online.”

He said that the overall performance of the blockchain has been incredibly influenced by the Haskell Node. This was in line with the previous update IOHK stated that it is fully satisfied with the progress of the ITN so far;

“Block production is now fully underway. Key Evolving Signatures (KES) are now part of the testnet and the hard fork combinator 2 is merged. The wallet is also being integrated with the Shelley node. Supporting documentation and tutorials have now widened in scope and are getting more detailed. The team also worked on debugging transaction generation, reconstructing the timeline of block creation and diffusion using benchmarking data, and improving the automation of the benchmarking pipeline using Nix.”

As the Cardano Shelley Incentivized Testnet is making progress, the Cardano ADA token is also recording gains. At the time of writing, the token was trading at $0.05528. It is up by 0.71% against the USD and up by 0.82% against Bitcoin BTC. The trading volume over a 24 hour period is $92,059,770 and the market capitalization is $1,433,275,510.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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