With that, the incentivized testnet (ITN), which began over seven months earlier, is set to end up being redundant.
The incentivized testnet, in which real ADA tokens might be made, is extensively considered a success for Cardano.
Not just did it help with real-world game theory, from which the Shelley mainnet could be developed, however metrics show over one thousand stake pool operators came on board, and 38% of the ADA supply was delegated throughout the procedure.
The highly anticipated Shelley mainnet is on track for rollout on July 29th, 2020. Shelley is everything about decentralizing the Cardano network, of which a key part of this advancement stage is staking rewards for token holders.
IOHK CEO, Charles Hoskinson formerly mentioned that mainnet staking benefits can be made from August 18th onwards.
” It would be a pity for all of this effort and success to go to waste. The ITN is one of, if not the most, decentralized blockchain in the world.”
However, the success of the ITN boiled down to both stake swimming pool operators and ADA holders being incentivized to get involved.
Ought to the ITN survive on, a new incentivize should be provided, and in doing so might potentially take on the Shelley mainnet. Insufficient benefits would see it wither away.
Cardano Reaches Out to the Crypto Community
Charles Hoskinson tweeted his thoughts on the circumstance. He proposed to extend making use of the ITN by making it a fast screening network for Cardano.
What Now For The ITN?
As the ITN draws to a close, many are wondering what happens next. The ITN facilities took significant time and effort to construct.
The ITN features a various codebase to the mainnet, being established in Rust, whereas the mainnet is constructed on Haskell. This raises concerns over the usefulness of the ITN moving forward.
On that note, as explained by Cardano Dan, enabling the ITN to die away would be inefficient.
In line with governance objectives, the final say would come down to bulk rule. In a post from the IOHK team, it was specified that stake swimming pool operators might vote on what happens next.
” This most current variation (0.9.0) contains what you may call … an Easter egg if you like; an unique ingrained CLI-based voting capability for stake pool operators to access.”
Prior to any decision is made, the whole Cardano neighborhood will likewise have the opportunity to vote on what they believe need to take place next.
In regards to incentivization to keep the ITN running, IOHK has specified that 95 million ADA will be offered to continue operations. Nevertheless, if the community votes no, those tokens will not be exported to the mainnet.
” If the neighborhood votes for Yes, we will earmark 95M test ADA to the benefits pot. This is a quantity equivalent to the regular monthly overall benefits payout on the ITN, which we feel is reasonable. This quantity will be visible on the blockchain and through the explorer backend.”
The future of the ITN is at an important point, events of the coming weeks will figure out whether it gets to reside on, albeit under a different guise.
While both IOHK and Charles Hoskinson have freely supported the idea of continuing with the ITN, does the Cardano community feel the same?
This post must help. Ill be releasing a whiteboard tonight too https://t.co/RqYm2yBke3
— Charles Hoskinson (@IOHK_Charles) June 24, 2020