Today the IOHK team announced that the registration process for official stake pools is starting. This is one of the necessary steps to run the Shelley incentivized testnet.
Today we're starting the registration process for official stakepools, as we prepare to roll out the Shelley Incentivized testnet. Find out how to register your interest here on our testnet website: https://t.co/9BKTNH7Miv pic.twitter.com/NTPE3cHrpP
— Input Output (@InputOutputHK) December 5, 2019
Users can find all the basic information on the Cardano official website in the “Guide for stake pool operators” section.
Shelley is a major update of the Cardano network. The launch of the Shelley test network is aimed to allow developers to test the behavior of the Ouroboros-based decentralized network before changing to the main network. Note that all network participants will receive a reward for testing solutions.
The next step will be to start testing the possibility of staking among real users, and all ADA holders will be able to take part in it.
Note that tokens purchased in the secondary market will not be able to participate in the staking. However, those ADA tokens earned through staking will be transferred to the main network in the future, which should launch in the first quarter of 2020. To avoid stressful situations in the market, the transfer will occur gradually and proportionally.
Ok we got some dates. The tentative snapshot date will be November 29th, we will do an information dump on December 5th for all the staking rewards information including percentages and the testnet will be released december 9th. These dates are subject to development milestones
— Charles Hoskinson (@IOHK_Charles) November 25, 2019
On December 9, the company, led by Charles Hoskinson, plans to activate the Shelley update. Thanks to the update, Cardano blockchain will be able to switch to a proof-of-stake consensus mechanism that allows users to stack cryptocurrencies. According to Hoskinson, in the test network, users will be able to earn ADA tokens, which will allow users to be more motivated in the development of the project and bring positive corrections to it.
Cardano Rate Forecast
Over the past day, the Cardano cryptocurrency (ADA) has risen in price by 1.15% against the USD. At the press time, Cardano token is trading at $0.03758. Note that this cryptocurrency suffered the smallest losses in November – 1.7%. If Cardano customers keep dominating the market, an upward price can break the trend line at the end of December.
The key points:
- ADA is trading in an uptrend.
- Cardano is consolidating above the support level of $0.3758.
- In the near future, the price will reach the resistance zone of $0.38.
- The support level is at around $0.35.
As we can see, ADA/USD has been forming an upward triangle for quite some time. At the same time, the Ichimoku Cloud turns green after 21 days, that is, on December 27.
When the resistance level breaks at around the level of $0.45, the next target is $0.56. As we test these levels, we will wait for the break of the ADA trend line with growth to $0.60 and higher.