Cardano’s Shelley Testnet Snapshot Taken Today, Giving First Look Into ADA Incentive Program

Cardano’s Shelley network snapshot is set for release on November 12. The network will be tested by ADA token holders who will have transferred their coins into Yoroi or Daedalus wallets before the launch.

The IOHK project will be moving to a new era once the Shelley upgrade is launched successfully. Cardano has planned an incentive program to engage more ADA users with their blockchain testnet. This is a fairly new concept given participation is automatically rewarded with the interaction of new technology. However, the blockchain-oriented firm views it as an opportunity to test real world incentivization.

Happy to report that we've just done the balance check test for the Shelley Incentivized Testnet. Here is what to expect and what to do next: https://t.co/w8aaOSilCS pic.twitter.com/oD9gv6LUFC

— Input Output (@InputOutputHK) November 12, 2019

Some of the incentives within the planned program include token rewards for ADA users who chose to run a stake pool or delegate their stake. In addition, the pioneer users of the network will get a vision of Cardano’s future in terms of interface experience.

ADA crypto users who would want to participate in the snapshot can do so very easily.

According to Charles Hoskinson during an AMA session last week, they would only need to transfer their ADA to Yoroi or Daedalus;

“Any ADA held in exchanges, third-party wallets, or hardware wallets must be moved to either a Daedalus or Yoroi wallet prior to the snapshot if users wish to participate in the Incentivized Testnet.”

Once the crypto coins have been moved, a snapshot of the network is taken. The clients will then wait to receive Yoroi and Daedalus wallet versions related to the unique snapshot. Alternatively, ADA users can use the Cardano Explorer Website to view the balance on the testnet.