Cardano
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Charles Hoskinson says balance check was an overwhelming success

The long-awaited balance snapshot for Cardano’s Shelley incentivized testnet was an overwhelming success. Charles Hoskinson, the CEO of IOHK, said that the company managed to achieve a lot in a short period of time even though it was facing issues during the check.

Successful balance check will enable a smooth network snapshot

It seems that slow and steady does indeed win the race, as Cardano has shown that a careful and calculated approach that learns through trial and error eventually achieves success. After an action-packed few weeks in which we saw the launch of exciting new projects and updates, the balance check for Shelley’s incentivized testnet has finally happened. 

In another surprise YouTube AMA, Charles Hoskinson shared the latest news and updates around Cardano. Hoskinson, who is one of the founders of Ethereum and the CEO of Cardano’s parent company IOHK, doubled down on his belief that blockchain development is a tedious process that cannot yield results without years of work being put into it.

One of the biggest developments in Cardano in the past few months has been the balance check for Shelley’s incentivized testnet. The trial run before the network snapshot that will transfer users’ ADA onto the testnet was an overwhelming success, Hoskinson said. 

Related: Charles Hoskinson says Cardano ‘making haste slowly,’ snapshot for Shelley most likely on Nov. 12

The check, which was scheduled for Nov. 12, managed to achieve a lot in a short period of time. Hoskinson said that all of the expected errors and bugs occurred and were promptly resolved by Cardano’s team. Issues stemmed both from Cardano as a 2018 legacy bug was discovered and users who failed to follow the adequate procedure. 

The biggest problem users were faced with as having their wallets show an incorrect balance after the snapshot. 

Even with the bugs that occurred, Hoskinson said that the biggest challenge was getting everything and everyone t...

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