The Solana mining project Ore v2 will be launched in three phases.

ChainCatcher news, the founder of the mining project Ore on the Solana chain, Hardhat Chad, announced the ORE v2 version update. The main changes include:

• Removal of the admin variable, replaced with open-source algorithm management;

• Total supply limited to 21 million, expected to be mined by 2064;

• Introduction of a staking mechanism, with up to 2x mining rewards;

• Adoption of a CPU-friendly hash function;

• Optimization of anti-witch attack strategies;

• Upgrade of the client, which will support more devices in the future;

• Smart contracts can be upgraded in the early stages, but will be permanently frozen later;

• v1 tokens can be exchanged for the new ORE at a 1:1 ratio within 3 months;

The new version will be launched in three phases: upgrading v1 metadata, activating token upgrades, and restarting mining. This update aims to enhance the project's decentralization and user participation.