Tanya Abrosimova
Independent Analyst
- ADA holders will be able to receive staking rewards on the recently launched testnet.
- ADA/USD is consolidating losses after a sharp sell-off.
As of November this year, users of Cardano network and ADA holders will be able to receive staking rewards, according to Charles Hoskinson, the CEO of IOHK, the company behind Cardano. He made an announcement during Cardano Summit Bulgaria.
Recently, the project launched Shelley testate, which is the first decentralized implementation of Ouroboros Genesis consensus algorithm. Currently, the team is working on staking protocol functionality.
“It’s a nice little sandbox…just like Cardano, the only difference is you can register as a stake pool, you can delegate, you’ll have all the interfaces to start actually staking,” Charles Hoskinson explained.
On the next stage, real ADA users will be able to participate in testing staking functionality.
According to Hoskinson, coins bought on the secondary markets will not be eligible for staking. Also, users won’t be able to sell the coins they received as a staking reward. New coins will be transferred to the new network that is expected to be launched in the first quarter of 2020.
At the time of writing, ADA/USD is changing hands at $0.0371, down 1.6% on a day-on-day basis. It is the 12th largest digital asset with the current market value of $965 million. ADA has been moving in sync with the market recently, staying in a tight range after a sharp collapse in the previous week.
ADA/USD, daily chart
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
SEC doubles down on TRON's Justin Sun lawsuit dismissing claims over jurisdiction
The SEC says it has jurisdiction to bring Justin Sun to court as he traveled extensively to the US. Sun asked to dismiss the suit, arguing that the SEC was targeting actions taken outside the US.
XRP fails to break past $0.50, posting 20% weekly losses
XRP trades range-bound below $0.50 for a sixth consecutive day, accumulating 20% losses in the last seven days. Ripple is expected to file its response to the SEC’s remedies-related opening brief by April 22.
ImmutableX extends recovery despite $69 million IMX token unlock
ImmutableX unlocked 34.19 million IMX tokens worth over $69 million early on Friday. IMX circulating supply increased over 2% following the unlock. The Layer 2 blockchain token’s price added nearly 3% to its value on April 19.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?