CoinVoice recently learned that Hardhat Chad, the founder of Solana’s on-chain mining project Ore, announced the ORE v2 version update. The main changes include:
Cancel administrator variables and use open source algorithm management instead;
The total supply is limited to 21 million coins, and it is expected to be mined in 2064;
Introducing a staking mechanism, up to 2 times the mining reward;
Use CPU-friendly hash functions;
Optimize anti-sybil attack strategy;
Upgrade the client to support more devices in the future;
Smart contracts can be upgraded in the early stage, but will be permanently frozen in the later stage;
v1 tokens can be exchanged for the new version of ORE at a 1:1 ratio within 3 months;
The new version will be launched in three phases: upgrading v1 metadata, activating token upgrades, and restarting mining. This update aims to increase the project's decentralization and user participation. [Original link]
