Android users of Cardano’s Yoroi Wallet can from now on stake their ADA to gain rewards. This is in line with the company’s vision of bringing a reward system for the users of ADA while they help to secure the network by staking their tokens. Shelly Testnet has gone live, thus enabling several functionalities, including staking for rewards, according to an announcement.
This is the incentivized Shelley testnet phase which is also a major step towards decentralization. The phase is used to test the possibility of running an incentivized, decentralized Cardano, but it brings real rewards to ADA holders who either delegate their stakes to others or run a stake pool themselves.
Android Users to Start Enjoying Rewards
In 2019, Cardano came up with a roadmap for the company, a major aspect being the Shelley Testnet. Shelley is a project that Cardano is embarking on mainly to improve decentralization of the platform through several programs including and incentivized testnet. In 2020, this vision is becoming true with the launch of the incentivized testnet that involves stakers earning real rewards for staking their ADA.
This is starting with the Android OS users who had some ADA in their Yoroi Wallets at the time of balance snapshot was taken at 12:00 UTC on November 29, 2019. Such users can easily restore their testnet ADA balance and to access the stake delegation feature or start running their own stake pool for rewards. iOS users will also have access to the service once Apple completes its review of the app and approves it for use.
The incentivized testnet will be used to build an improved, decentralized incentive system for the mainnet which is to be launched after the testnet. With staking, every member of the Cardano community will be able to play a role in securing the network and in return get a reward in ADA.
Cardano Ready to Take Blockchain Industry by Storm
IOHK/Cardano CEO and Co-Founder Charles Hoskinson in 2019 said 2020 will be the year of Cardano. To match words with action, Hoskinson with the aid of his team has brought several improvements to Cardano and ADA, including the launch of ADAPay to increase adoption for payments. The company is also working to explore several other use cases for the Cardano blockchain to make it compete favourably with other blockchain companies.
Already, some users have started exploring the staking service on the testnet and are reporting back on challenges. This may be pointing to a potentially wide participation from members of the Cardano community and such feedback will help to improve the final piece of the mainnet. It is widely said that Cardano has better technology than most people think. It seems the company is determined to prove what it’s really worth in the year 2020.