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

  • Oct 29 2024
  • Length: 56 mins
  • Podcast

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

  • Summary

  • 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
    Follow @SolfatePod on Twitter for updates: https://twitter.com/SolfatePod

    PS: We are happy to announce the launch of our Solfate Drip channel where you can collect Solfate Podcast episodes as digital collectibles! Subscribe to our Drip channel today: drip.haus/solfate (we have some fun experiments planned)

    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.


    Find HardhatChad and ORE online

    • Follow HardhatChad on twitter - @HardhatChad
    • Follow OREsupply on twitter - @OREsupply


    Follow us around


    Nick

    • twitter: @nickfrosty
    • github: github.com/nickfrosty
    • website: https://nick.af

    James

    • twitter: @jamesrp13
    • github: github.com/jamesrp13

    Solfate Podcast

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    • more podcast episodes: solfate.com/podcast
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