Great news for Cardano since another part of the Shelley phase will begin very soon at the moment at 12 of November starting the Testnet and if it’s succesfull the staking program will launch. The users of Incentivized Test-net, will be able to earn ADA rewards when the official staking program starts.
What is going to be at 12 of November?
First of all the participation in the balance check is not mandatory and will not affect the participation on the Incentivized Testnet. In simple words on November 12 Cardano’s developers will check the balances and will take a snapshot of every account. This will help to find any bugs and test the functionality.
As you can see on the video:
Participation in Balance Check
Step 1: You should transfer your Coins in Daedalus or Yoroi wallet. To be valid this must be before the 12th of November.
Step 2: The snapshot of your balance will take place at November 12 at 12:00 you should live your coins in the wallets.
Step3: After the Step 2 they are planning to release in a short period of time new versions for the wallets, the participants furthermore, will be able to see the new Cardano site and check their testnet balances.
Staking and Stake Delegation
Ada holders can earn their rewards with two ways: the first one is to delegate their ADA in a stake pool and someone else is going to run or they will be able to run their own pools. It is also important that in Cardano’s staking the rewards are not given by the pools but is distributed automatically by a protocol level. This could be every 5 days at the end of an epoch.
The more ADA you delegate the more possible is to make the next block and as a result the stake pool will share the rewards.
There is an official staking calculator which is accurate however it simulates a good and a bad scenario so you will know how can you earn in both cases.
What about the Price?
That is great news for Cardano it is known that it has a strong and very supporting community behind and this achievement can be classified as a milestone and my personal opinion is that a lot of people are going to buy ADA for staking since all this hype only a very positive impact can has in price.