Charles Hoskinson’s Surprise AMA on the UTXO snapshot and the oncoming Incentivized Testnet 29-11-2019


Charles Hoskinson’s Surprise AMA on the UTXO snapshot and the oncoming Incentivized Testnet 29-11-2019

(By @Eric_Czuleger)

On the 29th of November 2019 Charles Hoskinson sat down for a surprise AMA. There he discussed the recent UTXO snapshot and the oncoming Incentivized Testnet. He also gave an update on the Haskell side and looked forward to a marketing surge in 2020. If you would like to see the write up of the last AMA on the 21st of November, check it out right here.


  • The snapshot successfully occurred on the 29th of November.
  • A large data dump will happen the week of December 5th with a view to have the Incentivized Testnet fully released by December 9th.
  • The Haskell OBFT hardfork date has not been set yet.
  • A prototyping phase with Ouroboros Hydra is beginning soon.
  • McCann, a global marketing agency is being enlisted to help tell the story of Cardano.

Snapshot update

We had a successful snapshot on the 29th of November. Coming up next, the week of December 5th, there will be a large data dump which will have information that users need to know in order to use the Incentivized Testnet. This will include the economic parameters like rate of return. All of that information will broadcast next week.

With our current development velocity, we are on track to have the Incentivized Testnet fully released by December 9th. Getting involved will work similar to the balance check snapshot. Users will download a new client from the testnet website and then restore their wallets. They will then be able to delegate stake on the Incentivized Tesnet.

In the oncoming data dump we will include detailed instructions on how to run a stakepool as well as the requirements for doing so. We will also have additional releases like the explorer and the stakepool dashboard. A complete list of all the releases coming out will be launched on December 5th.

Haskell side

On the Haskell side, our team has just replaced the relay nodes and will be able to replace the core nodes after the OBFT hardfork. We haven’t set a date for that yet because we are still building infrastructure for exchanges. We are also discussing integrations between the Haskell wallet backend and the Haskell node. The team just released their internal paper about what they learned from using formal methods and they have also switched to a two week release cycle for the Haskell node. Our first major release will be next week. It will continue every two weeks thereafter, probably skipping Christmas. This continues the march towards Shelley readiness.

The Haskell side is also undergoing a security audit by Root9B. Otherwise, we are happy with our current release schedule. At some point a large documentation surge will aim to clean up the available information. We are hoping to turn Cardano Docs into a more useful resource. As always we’re grateful to the community for their patience and support.

We see the release of the Incentivized Testnet as the release of Shelley. This is because it has peer-to-peer networking, Oroboros Genesis, stakepools, delegation and a GUI which enables everything. The Incentivized Testnet is an opportunity for people to build up their stakepools and their stakepool brands. It also lets us have a frank discussion about economic parameters, and user experience. It allows us finetune the system before Shelley is released onto the mainnet. Of course, releasing Shelley is another major step on the road towards building our brand and company.

Telling the story

In the last AMA we discussed our journey towards being a great software company and we’re proud of the progress we have made. We have already proven ourselves capable of being a great research company and as we release new software we are always improving. Soon, we will be handing the Ouroboros Hydra protocol over to Rob Cohen who will begin building a prototype with it. We also have a lot of great papers coming along. We believe that this is how a cryptocurrency should really be built. Along with creating the software it is important for us to spread our message.

We had a recent meeting with McCann, a marketing firm which works with global brands like Microsoft and Coca-Cola. They will be speaking with key community members, and product managers in preparation for a brand refresh and marketing surge in 2020. Now that major software releases have come online it is important for us to tell the world why all of these things are great and spread the story of Cardano. We built Cardano to be a world financial operating system and we’re on a mission to find our billion users.


How many pounds have you lost?

Do you have a favorite Linux distribution for running a full node?

What happens if a stakepool node authors a bad block?

What one or two lessons learned over the last few years stand out to you today?

Is there a Lambo Tractor in your future for Christmas?

Do you speak with Vitalik Buterin?

About 40 percent of ADA is on 40 addresses, not looking really decentralized is it?

Do I need a high quality PC to stake?

Do you see Smart Contracts being issued on Cardano?

Do you hold any other tokens?

Update on the Ginger Hippos?

How is the Cardano Foundation moving in your view?

Will delegating on mainnet work with hardware wallets?

Are you training like Rocky Balboa?

When are you coming to Ghana?

How long was your most recent fast?

Who will be the owner of Cardano once the system is decentralized?

What will you spend your first ADA on?

Do you meditate? How do you stay sharp?

Why should IOHK develop a system if they won’t own it?

Any updates for MOUs in Africa?

When will staking percentages be announced?

How has being rich changed you?

Favorite dog breed?

How do you feel about Bloomberg?

Do you think you’ll cross the billionaire line one day?

Do you expect a reduction in transaction fees as ADA price increases?

Are you friends with CZ?

Are you a member of the Yang Gang?

Have you seen The Joker movie?

We need a tipping service for Cardano Telegram.

What do you think about the new episodes of Rick and Morty?

Have you thought of having a Cardano Blockchain conference at Denver University?

What happened to Bitfinex listing Cardano?

Thoughts on the Twitter CEO moving towards Africa to influence crypto?

Does Coinbase hate Cardano?

What do you think of Tesla’s new truck?

Are you getting a roadster?

What are the three objects on the wall above the whiteboard?

1 Like