Solfate Podcast - Interviews with blockchain founders/builders on Solana podcast

Mining ORE on Solana with proof-of-work tokens (feat. HardhatChad)

0:00
56:24
15 Sekunden vorwärts
15 Sekunden vorwärts

Get insights into ORE’s proof-of-work journey, including new features in V2, staking pools, and the project’s unique approach to building a broader ecosystem.

Full notes for this episode at: https://solfate.com/podcast/65
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Notes from the show

  • ORE is a proof-of-work token that anyone can mine.
  • The project aims to bridge Bitcoin to Solana.
  • Mining is designed to be accessible to all users.
  • The hash function used in ORE is non-parallelizable.
  • Mining happens off-chain, with validation on-chain.
  • The initial launch faced significant network congestion.
  • The V1 system had issues with spam and transaction volume.
  • A hard fork was necessary to transition to V2.
  • The V2 redesign improved the mining experience.
  • The project gained attention through its marketing strategy. The transition from V1 to V2 involved significant changes in reward structure and supply cap.
  • Community feedback is crucial in shaping the monetary policy of the token.
  • Participants in crypto can be categorized into three main groups: nerds, speculators, and utility seekers.
  • Liquidity is essential for the success of ORE and its integration with real-world assets.
  • Staking and mining pools are being introduced to enhance user participation and rewards.
  • Horizontal integration can create a broader ecosystem for the ORE token.
  • Liquidity is viewed as a key component of store value in the crypto space.
  • The project aims to compete with traditional finance by offering decentralized alternatives.
  • The ORE experiment is seen as a significant step in exploring new monetary policies.
  • Community engagement and feedback are vital for the ongoing development of the ORE project.


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