Cardano Staking To Go Live on Testnet in June – What Does It Mean For Investors?

The Cardano (ADA) project will soon release its highly anticipated Shelley update, which will bring such upgrades as a Proof-of-Stake consensus mechanism. The project is expected to release its testnet in June which will give users a sense of what the major upgrade will be like.

Emurgo, one of the three legal entities behind the project, responded to the tweet, saying that the testnet would start “with a small, closed pool of trusted stake pool operators and an Minimum Viable Product, rolling out more functionality and more operators over the next 3-4 months.”

Officials, including Charles Hoskinson, have previously said that they are targeting the end of Q1 as a release date for the mainnet version of Shelley.

What Does it Mean for Investors?

The Cardano project has stated on their roadmap page that they will offer a new roadmap on the coming weeks, but what we do know about Shelley is that it will bring several important features, including paper wallets, quantum resistance, human-friendly addresses, multiSig transactions, and much more.

For investors, this means a project that is laying a strong foundation for a future in which cryptocurrencies become more of a norm than a niche interest. Improvements to interoperability and security are also planned, and as Cardano is well-funded, investors need not worry about the project facing roadblocks from a lack of funds. The team has also been working with countries to help boost adoption.

Cardano has been building its platform patiently, and many see it as a being a project that could bring several improvements to the crypto space once the groundwork has been laid. At the same, they have been communicative about development – lead Charles Hoskinson regularly hosts AMAs and offers updates on the project.

3 Comments

  • Nathan
    Posted May 23, 2019 7:47 pm 0Likes

    What a passionate article about Cardano.

    • Noddy
      Posted May 23, 2019 10:47 pm 0Likes

      ADA is 92% down from highs last year.It’s about time ADA investors started getting results

  • steve
    Posted May 24, 2019 9:02 am 0Likes

    Noddy , all the crypto’s have suffered . Cardano is open and communicates a lot. Charles has nothing to hide he does a lot of AMA’S and iohk replies fast to any questions people have.
    to me this is a great project and I would rather have a well built company than a straw house. too many big bad wolfs out their. I hope all out patience in this project will prove to be sound.

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