Ore founder: The upgrade of Ore v2 will be carried out in three phases

ChainCatcher news, the founder of the mining project Ore on the Solana chain, Hardhat Chad, has released the ORE v2 version update.

The new version will be upgraded in three phases (upgrading v1 token metadata, activating the v1 to v2 upgrade, and activating mining), aiming to enhance the project's decentralization and user participation. Specific details include: removal of the admin variable, replaced with open-source algorithm management; total supply limited to 21 million tokens, with mining expected to be completed by 2064; introduction of a staking mechanism, allowing for up to 2x mining rewards; optimization of anti-witch attack strategies; smart contracts will be upgradable in the early stages and will be permanently frozen later; v1 tokens can be exchanged 1:1 for new ORE tokens within 3 months.