I would like to ask something regarding Deadalus wallet.As far as I know it is in testnet.So my question is it worth to download it now and store my ADA there or to wait for the main net?
Daedalus is currently a mainnet wallet. It has been a Cardano production wallet for at least 2 years. However, they are constantly releasing newer versions for improvements. Daedalus will be part of the incentivized testnet. If I’m right, I think your question is whether the current Daedalus wallet is ready for the testnet snapshot. If you have your ADA in the current or later version of Daedalus before the testnet snapshot you are good. You can download it now or later but do it before the snapshot. I hope it answers your question.
Thank you for your answer Sir,currently I haven’t transfer funds to the wallet so I hope if I transfer it now will be no problem in future.Regarding this “snapshot” I am not exactly sure what are you meaning by this
Let me clarify that your mainnet Daedalus wallet will not be use on the testnet. You will have to RESTORE, your existing mainnet Daedalus wallet into an incentivized testnet version of Daedelus wallet.
The snapshot will create a copy of the mainnet wallet, which will allow the developers to take that copy and run a second wallet for testing purpouses, if you would like to be a part of the testing and gain Staking rewards for contributing you will need to have a mainnet address that you are in control of.
If you don’t already know about the incentivised testnet it’s maybe a bit late to start learning. There is no obligation on anyone to take part. On the other hand, if you do, there will be rewards. So if you have some time to spare, and you’re a quick learner, you could start by searching for “incentivised testnet” here in the forum.
Edit: on second thoughts, you’re already familiar with the concept of the testnet, I guess you’ve heard of staking, the incentivised testnet should not be too difficult, so I say go for it!
Thank you for the answers and the clarification guys,
I haven’t heared of incentivised testnet to be honest so I have to read about it.My main fear is whether I am gonna loose my coins in this incentivised testnet or not,but as far as I understood there’s no such a risk.
Your coins are as secure as your computer is, as long as it is secure and you protect your seed words from others you should be good, the incentivized tesnet will only have a representation of the coins you hold on the real wallet, you will also control those coins on the tesnet, at the end of the tesnet period any awarded incentives you earn on the tesnet will be transferred to your wallet on the main net, there has been a lot of us waiting for staking to be realized so this is going to be something you will want to be a part of if you hold ada, it will give you a chance to better understand what cardano holds for the future and why so many people have awaited the release of Shelley with anticipation.
Might be worth a read:
will we be able to delegate our ada to multiple pools or just to one pool?
For the testnet, just one pool, unless you split your holding into multiple wallets: one pool per wallet.
ok, I will create multiple wallets, because it is much better to test staking performance and I hope there are no fees for tranfer between my different wallets
So I already transfer my funds into Yoroi.Now shall I do something special with the wallet to participate or just leave it there?
The first snapshot was successful and the address you have on Yoroi can be used for the test period up until the second snapshot, you will need to actively participate in the testing to gain a reward on the incentivized testnet, up until the second snapshot you can move your ADA in any direction you choose, if you wish to utilize it in the remaining period of the Incentivized test period you will need a qualified address to participate, so stay alert and up to date with developments if you wish to help test the network.
Thank you for you answer,
The point I can not understand is this"you will need to actively participate in the testing to gain a reward on the incentivized testnet".How should I actively participate only by holding my funds in special Yoroi wallet or need to follow some steps?I have search for more information regarding this but can not find enough good source.
This is a good time to practise how to gain a passive income through staking, on the testnet you have opportunity to stake your ada before staking is live on the main Cardano chain (a unique approach to introducing awards if you ask me)
You will need to utilize the test network and follow official instruction from IOHK on how to stake on the incentivized testnetwork and after its conclusion how to move your profit from staking to the main net, this is a very hot topic right now so IOHK will be addressing it as they have said - they will be delivering more information very soon on the subject, if it is something you would truly like to be a part of then follow the developments closely, the experts on this are moving forward to test the network and their own equipment to deliver a sound proof of stake decentralized network so the focus is not currently on assisting others new to the ecosystem but is pointed at testing the decentralized network - you must understand some of us have been waiting a very long time for this and are very anxious to see if our time put forward in the ecosystem is going to have been worthwhile - hence the lack of community contributions to technical questions currently.
And a small follow up---- you must utilize the testnetwork to gain any of the incentives set aside for it, this will entail utilizing the instructions from IOHK on how to do that.
Thank you for the clarification !