Cardano’s Shelly Testing Program Official Rolls Out, Here Are Some Safety Tips Provided


In a recent tweet made on Friday, June 21, the Cardano Community finally revealed the Shelly “testing program”, which the team deems is the initial step to the Shelley TestNet.

https://twitter.com/cardanostiftung?lang=en

According to the claims made, the Cardano Shelly TestNet is a tool for ADA users and developers to experiment with staking – a process in which stakeholders put together funds to form a pool – while contributing to the stake pool creation processes. This is a new milestone for Cardano, as this signifies a more decentralized platform. More specifically,

“It marks an important milestone as we move into the Shelly era of development and will help us to prepare for the day when the community takes over full management and responsibility of the blockchain.”

Steps to the TestNet

It has since been noted that there will be different steps in rolling out the stake pool TestNet. The ultimate goal is to achieve this notion of decentralization and ensuring the delivery of certain core components along the way. In particular, the aim is to ensure that this respective blockchain is 50 to 100 times more decentralized than it initially was. In order to reach this, here is a breakdown of the steps that has been shared:

  • Allowing users to host a Rust self-node (i.e. running one’s own system locally)
  • Unifying nodes to create one TestNet
  • Rewarding participants for their contributions during this process

Some Safety Tips to Consider

Upon revealing the official commencement of the testing program, the Cardano team trusts that safety concerns may arise, especially in relation to online safety along with the privacy of one’s data. They’ve since taken the extra measure to provide tips so that one’s participation does not result in compromising their information.

Users have been reassured that no attempts of defrauding have been witnessed for the moment, at least not in the form of “fake stake pool operations.” This being said, the team has noted that it’s best to be careful. The following list entails some advises that could promote overall security amidst the ongoing testing processes:

  • Verify the reliability of claims revolving around “functioning stake pool”
  • Staking of real ADA is not possible during the TestNet, so anyone who claims this should be avoided at all costs
  • Do not send ADA to anyone claiming the existence of a functional stake pool, if asked it is nothing more than a scam
  • Be wary of stake pool links, and report if necessary.

Cardano’s price is $1.39 ADA/USD exchange rate today. The real-time ADA market cap of $44.47 Billion currently ranks #5 with , daily trading volume of $1.92 Billion and live coin value change of ADA -1.59 in the last 24 hours.

Live Cardano (ADA) Price:

1 ADA/USD =$1.3921 change ~ -1.59%

Coin Market Cap

$44.47 Billion

24 Hour Volume

$1.92 Billion

24 Hour VWAP

$1

24 Hour Change

$-0.02

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