Cardano Staking: State of the Testnet
Hello Cardano and Crypto fans. No room for Bitcoin Maximalists here!
Today we cover some basic information from the Cardano Testnet and also provide a bit of background; so the information is provided with some context.
Cardano Incentivised Testnet
If you have been following Cardano since it came onto the seen in 2017, you will know that Cardano is the brainchild of Charles Hoskinson. The former co-founder of BitShares and Ethereum.
Cardano has often been criticised for being slow to release a product, so the community was very excited when the incentivised testnet was launched in December 2019. This testnet is different to others as it allows delegators to earn real ADA while delegating on the testnet. This allows for the testnet to operate under conditions similar to the mainnet with real incentives.
State of the testnet
The IOHK homepage (https://iohk.io/en/) has this great graphic, showing where the blocks are being created on the testnet around the world.
The testnest has now been running for 27 days. With many who have delegated earning annualised returns of 5 to 15 percent. There are currently 171 Stakepools creating blocks.
Cardano operates a cap on the level of rewards each pool can receive. On the testnet, the rewards each pool can receive is capped at 1% of total rewards, this is expected to drop to 0.1% of total rewards on the main-net. This was designed to encourage decentralisation and to avoid a few stakepools gaining most of the rewards and stake.
Unlike other earlier DPoS protocols, the rewards are collected and distributed by the Cardano protocol, which reduces the risks of bad actors not distributing promised rewards.
All rewards earned on the testnet will then be moved to the main-net.
Have you tried staking on Cardano? Did you have your ADA in your wallet for the Snapshot?
Want more up to date Cardano information and commentary? You can follow us on twitter https://twitter.com/CardanoGuru
Source:
A lot of the stats are taken from https://adapools.org/
Other blockexplorers are available.
Nice info, thanks for share
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