Shelley’s incentivized trial testnet snapshot scheduled for Nov. 12

Shelley’s incentivized trial testnet snapshot scheduled for Nov. 12

The balance check snapshot for the Shelley incentivized trial testnet has been scheduled for Nov. 12, at 12:00 UTC. According to Cardano’s newly launched staking website, participating in the trial balance check is optional and will not impact users’ ability to participate in the incentivized testnet once it launches at the end of November.

Practice run for the incentivized network snapshot

The time and date for the first, trial snapshot of the Cardano network have finally been set. According to the newly launched staking page on the Cardano website, the trial balance check snapshot will happen on Nov. 12, 12:00 UTC.

The scheduled date is in line with the information shared by Charles Hoskinson, the CEO of IOHK, the company behind Cardano. In an AMA last week, Hoskinson said that the trial snapshot for the Shelley incentivized testnet was most likely to happen around Nov. 12.

Participation in the first check is optional for all users holding ADA, the company said, explaining that it will not impact the users’ ability to participate in the incentivized testnet. Cardano said that the “dry run” will allow them to test “key functionality” and allow the ADA community to validate that their balances are accurately captured.

If everything goes according to plan, the official balance snapshot should happen sometime at the end of November. Cardano has been notoriously reluctant to set any firm deadlines for major releases and important updates, so the exact dates for the snapshot and the start of the incentivized testnet are yet to be released.

How to participate in the Cardano balance snapshot

The process of participating in the snapshot and the incentivized testnet has remained the same. Last month, the development team behind Cardano explained that all users who hold any amount of ADA can participate in the testnet.

In an AMA last week, Hoskinson said that users who want the ADA they hold to be available on the incentivized testnet will have to transfer them to one of the supported ADA wallets—Daedalus or Yoroi. According to Cardano, this must be done before the balance check snapshot on Nov. 12. The company said:

“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.”

After users have moved the funds to one of the two supported wallets, the snapshot of the network will be taken. Within a few days of the snapshot, versions of Daedalus and Yoroi unique to the balance check will be made available. In the meantime, users will also be able to check their testnet balances on the new Cardano explorer website.

Posted In: Technology

Like what you see? Subscribe to CryptoSlate

Get our daily newsletter containing the top blockchain stories and crypto analysis straight to your inbox.

Sign up to stay informed

Stay connected

Priyeshu Garg

Priyeshu is a software engineer who is passionate about machine learning and blockchain technology. He holds an engineering degree in computer science engineering and is a passionate economist. He built his first digital marketing startup when he was a teenager, and worked with multiple Fortune 500 companies along with smaller firms. When he is not solving transportation problems at his company (Ola), he can be found writing about the blockchain or roller skating with his friends.

View author profile

Commitment to Transparency: The author of this article is invested and/or has an interest in one or more assets discussed in this post. CryptoSlate does not endorse any project or asset that may be mentioned or linked to in this article. Please take that into consideration when evaluating the content within this article.

Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.

The post appeared first on CryptoSlate

Related Posts

Leave a Reply