Cardano network to add staking option for ADA holders

Posted 30 September, 2019

The Cardano network is reportedly going to expand the range of services available for its users in the near term. The news was announced by Charles Hoskinson, CEO of IOHK during the Cardano Summit Bulgaria.

The company representative stated that the users would become able to make money from ADA staking.

The first point was the launch of Shelley testnet. The latter is said to be the first decentralized implementation of Ouroboros Genesis consensus algorithm. It was commented that the developers add additional features to the staking protocol.

Charles Hoskinson said during the presentation at the event:

"It’s a nice little sandbox…just like Cardano. The only difference is you can register as a stake pool, you can delegate, you’ll have all the interfaces to start actually staking."

Once all preparations are done, it is planned to enable real users to test staking option. The new feature can be tried by holders of ADA.

According to another Cardano spokesperson, they will make a screen of the network, and then ADA tokens in Daedulus and Yoroi wallets will be transferred to the testnet. At the same time, an opprutnity to try the testnet will not be avaiable for the customers which hold ADA on trading platforms or use Ledger wallets.

Charles Hoskinson highlighted that tokens sourced from the secondary market will not take part in the staking.

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30 September, 2019 12:02

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