Ore Sets Total Mining Limit of 21 Million ORE Tokens to Prevent Inflation!

Bittime - Ore, Solana-based mining project has announced it will set a total cap of 21 million ORE tokens, with all tokens expected to be mined by 2064.

Hardhat Chad, the creator of this Solana on-chain mining project, revealed that version 2 (v2) of ORE contracts will introduce such supply limits to increase protection against inflation.

Ore: History and Goals

The Ore project was initially launched to test the concept of “Proof of Work on Proof of Stake” (PoW on PoS) and create a fairly launched token that can be mined by everyone.

This idea arose from the desire to create peer-to-peer electronic assets that could be used by anyone, without excessive centralization or control. In the first version (v1), there was no fixed limit on the token supply, which raised concerns regarding future inflation.

With feedback from the community, the second version (v2) of the ORE contract will introduce supply limits to address these concerns. However, the supply function of ORE remains unchanged in v2, with a stable mining rate of 1 ORE per minute. This means that all tokens are expected to be mined until 2064, providing a long period of stabilization and adoption by the user community.

Advantages of Solana as a Payment Network

One of the underlying aspects of the Ore project is the utilization of Solana's high-speed payment network. Solana is known for its high transaction speed and low fees, making it an ideal choice for peer-to-peer electronic asset implementation.

By leveraging these advantages, Ore aims to realize the original dream of cryptocurrency as an efficient and decentralized means of electronic payment.

Ore v2 Software Audit and Release

The Ore v2 project is currently in the final stages of auditing, and the client software is also being prepared for release.

This audit process is very important to ensure that all technical aspects of the new contract are secure and free from vulnerabilities that could be exploited by irresponsible parties.

Once the audit is complete and the client software is released, it is expected that there will be increased adoption and use of ORE tokens within the Solana ecosystem.

Smeanwhile, pOre's project has received significant recognition in the crypto community. Recently, Ore was announced as the top winner in the Solana Renaissance Hackathon by Colosseum.

This award highlights the project's innovation and potential in bringing new concepts and effective solutions to the crypto world.

Ore Potential: The Most Popular Mining Project on Solana

With a set supply limit and support from the community, the Ore project has great potential to become one of the leading mining projects in the Solana ecosystem.

The supply cap of 21 million tokens ensures that ORE tokens will have a more stable value and be resistant to inflation, making them more attractive to investors and users.

Additionally, with Solana continuing to grow as one of the leading blockchain networks, the Ore project will also benefit from infrastructure improvements and wider adoption.

Solana's speed and efficiency as a payments network provides a strong foundation for Ore to grow and expand.

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