Staking on the Cardano protocol is now open, as per an announcement made on June 9. The blockchain’s shift to Shelley, a new consensus algorithm, is being implemented and managed in a tiered approach, with yesterday’s launch being a part of a broader roadmap.
Staking on Shelley
As per a forum post, the release means all interested parties can now run nodes on the Cardano testnet. Previously, the testnet was open to only 50 pool operators for debugging and testing purposes, but the latter’s smooth success meant further advancements were justified.
Tim Harrison, the marketing director of Cardano parent IOHK, noted the Shelley testnet is now entering its final phase, bringing the network closer to a mainnet release in July 2020. All stake pool operators, including operators of the Shelley Incentivized Testnet (ITN), can now join, Harrison tweeted:
Tomorrow, the 9th June, we’re entering a new phase for Cardano. The Shelley public testnet will open up so any operator that wants to set up a #Cardano stake pool can do so, ready for staking and delegation on mainnet later this summer #ShelleyTestnets @Cardano pic.twitter.com/XlTqht6jPg
— Input Output (@InputOutputHK) June 8, 2020
The post notes users can explore stake pool operation and delegations, with Harrison nothing 60 pools are currently active and staking on the testnet.
The current setup, as of June 9, is “different” than Shelley’s ITN, the previously used mechanism. Cardano notes there will be “bugs and a few bumps,” as the protocol is still, technically, in its testing phase and not the ultimate product.
The Cardano forum contains a diverse FAQ for all new pools to feedback, allowing new members to ask questions to the ADA community and share knowledge. The firm can also set up a Telegram group for alleviating any concerns.
The post noted:
“You’ll find the setup documentation you need over at IOHK’s testnets site 128. We’re now uploading the guides and docs that our pioneers have helped us develop and refine. We’ve also provided a handy shortcut to some of the excellent community content that has been developed by our pioneers.”
On the so-called Faucet 21 at the Cardano testnet site, ADA tokens for testing and practice purposes are available. Users will need to update the “topology files 25” to identify pools and enable connection to the public testnet network.
A new calculator for determining staking rewards is upcoming and under development by the IOHK, for users looking at staking as a type of passive investment.
The first release will feature no delegation functionality initially), and reclaiming ADA rewards from the ITN will “come later down the line,” Cardano noted in its post.
Meanwhile, the firm concluded:
“But the first wallet release will iterate fast and give you a taste of what the experience will be like later this summer. Expect more news and instructions on how Daedalus fits into the overall process soon.”