A few minutes ago came the news of the beginning of the test phase for the staking of the Zilliqa (ZIL) crypto.
Calling all #developers… 🥳 $ZIL #staking is now open for testing on #Zilliqa's testnet! 🖖
Read more here ➡️ https://t.co/1rLocryMPu – AW#Blockchain#StakeWithZIL pic.twitter.com/eJae06fKAL
— Zilliqa (@zilliqa) April 9, 2020
As can be read from the tweet, the testnet’s smart contract has now been made available to everyone, in open-source mode, and is already at version 6.2.0, thus at an interesting state to begin testing the system in its experimental form before heading to the mainnet.
Obviously, the search for possible bugs is open and funds are provided for those who will help programmers to discover any flaws.
In addition, the post explicitly explains that exchanges can start to integrate the staking process, in this case as a seed node. The function is also open to potential partners for developing services directly on the testnet so they can then be integrated, after their testing, on the mainnet as well.
The various dApps (decentralized applications) and wallets will be able to try staking with seed nodes, in test mode, for which a tool has been released to calculate the estimated earnings from staking user funds.
Since this is a test phase, theoretically anybody can participate, although to become a seed node it is necessary to meet both hardware and ZIL requirements for staking: this involves a minimum threshold of 10 million ZIL which, at the current exchange rate of $0.004, is a little more than 40 thousand dollars, hence an investment not affordable for all users.
In short, Zilliqa’s 2020 has started very well, in part thanks to some partnerships with Incognito and Switcheo to establish a cross-chain decentralized exchange (DEX) where it will be possible to exchange the cryptocurrency.