Starting from today, the Ore project, famous for its token mining akin to Bitcoin, has announced it will halt all mining activities. This decision comes in response to worsening congestion on the Solana network. Over the past period, automated mining of Ore tokens, which began at launch, significantly added to the existing network congestion issues that Solana was already grappling with.
I’ve made the decision to halt all mining operations right away. This step is believed to benefit Solana, Ore owners, and expedite our transition to version 2. 🔄
— Hardhat Chad (@HardhatChad) April 16, 2024
Solana’s network experienced heavy strain due to a massive influx of activities, particularly the intense mining of new cryptocurrencies. The situation was exacerbated by the large transaction volumes generated by bots and newly launched meme coins, resulting in network congestion. In response, Solana implemented updates to help manage and alleviate congestion issues.
In the latest update from Ore’s Twitter account, as mentioned by @HardhatChad in their community newsletter, they are taking a break to work on upgrading version 2 and refining the mining contract design. This pause has led to reduced network activity for Solana, providing it with an opportunity to address its congestion problems.
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2024-04-17 01:24