TechFlow reports that Hardhat Chad, founder of the Solana-based mining project Ore, has announced an update to ORE v2. Key changes include:
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Removal of admin variables, replaced with open-source algorithmic governance;
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Total supply capped at 21 million tokens, expected to be fully mined by 2064;
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Introduction of a staking mechanism, offering up to 2x mining rewards;
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Adoption of a CPU-friendly hash function;
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Enhanced anti-Sybil attack measures;
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Client upgrade with support for more devices in the future;
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Smart contract will be upgradeable initially, then permanently frozen later;
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v1 tokens can be exchanged 1:1 for the new ORE within three months;
The new version will roll out in three phases: upgrading v1 metadata, activating token migration, and restarting mining. This update aims to enhance decentralization and user participation.
