How Did an Experimental Currency Halt an Entire Blockchain and Still Snag a $50K Prize
Web3 Wavefronts - Digestible News on Crypto, DeFi and AI · theWeb3.news
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Show Notes
The experimental currency Ore won a $50,000 prize at a Solana Foundation hackathon. However, mining for Ore led to a congestion issue on the Solana network due to high activity, causing a temporary suspension of the process in April. Ore uses the proof-of-work (PoW) security protocol, which is different from Solana's method of employing proof-of-history combined with Ethereum's proof-of-stake. Ore's anonymous creator, Hardhat Chad, has plans to launch a new, more efficient version--Ore v2. Despite initial disruption, key figures in the Solana ecosystem anticipate that Ore v2 will be less disruptive and provide much-needed stress testing for the network.
Read in-depth analysis on this topic at: https://theweb3.news/crypto/how-did-an-experimental-currency-halt-an-entire-blockchain-and-still-snag-a-50k-prize/
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