Cardano Kicks off its Shelley Incentivized Testnet, Over $195 Million Worth of Staked ADA

Reports show that more than 5 billion ADA coins which is roughly $195 million have been staked by Cardano (ADA) holders. This was achieved within 24 hours after Cardano’s testnet went live recently.

IOHK tweeted the progress above on December 15, 2019,

The long awaited launch of Cardano’s Shelley incentivized testnet by ADA holders is because it has promising results and will give their customers a chance to obtain real ADA rewards, when the testnet has concluded.

More so, a rewards calculator by the IOHK team to customers will be made available as a bonus. The rewards calculator will allow the customers to roughly gauge the number of rewards they can receive from staking ADA tokens. If a user stakes 100,000 ADA which is around $3,600 currently, the earnings would be around $260 per annum in staking rewards. It is expected that in early 2020 Shelley mainnet will go live. Thereafter, all customers will have access to point staking.

Basically, staking is when funds are locked in a crypto wallet in order to support operations of a blockchain network and the participant then earns rewards.

Cardano’s ‘AdaPay’ November 2019 Launch

AdaPay was launched at the end of November 2019 by the Cardano Foundation; this is an ADA payment gateway designed for merchants. Cardano Foundation worked with Coti, a fintech platform to develop the solution. According to the announcement in October 2019, the payment solution is integrated directly using an AdaPay button or a QR-based point of sale system. Merchants can now accept ADA payments with “near-instant” settlement in 35 fiat currencies directly in their bank accounts through the AdaPay solution.

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Lujan Odera
Lujan Odera
Lujan is a blockchain technology and cryptocurrency author and editor. He has worked in the field of cryptocurrencies and blockchain technology since 2015 helping him gain enough experience to be the writer he is today. He is known for his simple writing style that allows novices to understand the field in the simplest way.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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