Update on Ore Mining Operations on Solana Blockchain: Addressing Network Congestion and Plans for Version 2
The Ore developer, Hardhat Chad, has made a bold move by pausing all mining operations on the Solana blockchain in response to network congestion issues. This decision comes after the rapid adoption of the Ore protocol, which has led to unprecedented traffic on the Solana network.
Since its introduction just two weeks ago during a hackathon, Ore has quickly become the most actively used program on Solana based on transaction count. Hardhat Chad acknowledged that Ore has put a significant strain on Solana’s mainnet, surpassing any other smart contract in blockchain history in terms of network load.
The developer emphasized the need to optimize the system for Version 2 of the protocol. Recent difficulty updates have highlighted the necessity for a new contract design, and pausing mining operations will allow developers to focus on refining Version 2. This new version aims to address issues such as code inefficiencies, lack of incentives for token holders, and biased difficulty changes.
Hardhat Chad reassured users that there is no deadline for claiming rewards, and all existing Ore tokens will be eligible for a one-for-one upgrade to the new Version 2 tokens. More details about Version 2 will be shared in the coming weeks.
This move by Hardhat Chad demonstrates a commitment to improving the Ore protocol and ensuring a fair and efficient mining process on the Solana blockchain. Stay tuned for further updates on the development of Version 2.
