The Solana on-chain mining project Ore v2 is released, including three stages: upgrading v1 token metadata, activating the upgrade, and mining.

Odaily Planet Daily reports that the anonymous creator of the Solana blockchain mining project Ore, Hardhat Chad, shared more information about ORE v2 on X, revealing various features to be launched in the coming days and weeks:
1. ORE v2 does not design a governance system, has no admin, and instead relies on open-source algorithms to manage all critical program scope variables;
2. ORE will have a fixed total supply of 21 million tokens, with all ORE expected to be mined by 2064;
3. v2 will introduce a staking mechanism, where miners can obtain mining reward multipliers through staking, which only applies to miners who actively submit valid hashes and cannot be manipulated through 'flash loan' attacks;
4. v2 will migrate to a new CPU-friendly hash function, intentionally set to be non-parallelizable, thus minimizing the performance gap between consumer devices and hardware-optimized systems;
5. v2 has redesigned the reward algorithm to suppress Sybil attacks, where miners maximize rewards by submitting the most difficult hash every minute;
6. v2 will launch an open-source command-line interface and web application. After release, the team will port these clients to local desktops and mobile devices, starting with Solana Saga;
7. ORE smart contracts will remain upgradable for a period of time in case emergency actions need to be taken to manage the protocol during the launch phase. After launch and once the mining dynamics are considered fairly stable, the contracts will be permanently frozen. Once frozen, ORE will be immutable forever;
8. All ORE v1 tokens will be upgraded to the new ORE tokens on a 1:1 ratio, with the v1 token upgrade window open for 3 months. After this, the upgrade feature will be disabled, and all future integrations will use the new ORE tokens. More details about the upgrade process will be announced soon.
The v2 release will include three main stages:
1. Upgrade v1 token metadata;
2. Activate v1→v2 upgrade;
3. Activate mining.