Solana's Ore Mining Project Triumphs in Hackathon Despite Network Congestion
Ore’s Impact and Controversy within the Solana Ecosystem
Unique Mining Model Sparks Congestion
Ore, championed by Hardhat Chad, introduces a novel proof-of-work system on Solana similar to Bitcoin but with a more inclusive reward model. However, the surge in Ore mining transactions caused severe network congestion, affecting over 75% of Solana network transactions in April 2024.
Network Upgrade and Future Prospects
The congestion issues prompted a necessary pause in Ore's activities and accelerated a crucial network upgrade by Solana. To prevent future disruptions, version v1.18 is set to be released on May 27, focusing on enhancing the network infrastructure and addressing ongoing congestion problems.
Chad acknowledged the setbacks and emphasized the importance of further development and testing before resuming mining operations.
Hackathon Winners and Milestones
- The Solana Renaissance Hackathon recognized success across various categories, including Consumer Apps, Crypto Infrastructure, and Gaming.
- Special awards like the University Award and Climate Award highlighted innovative projects in the NFT space and sustainable blockchain solutions.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.