Innovation Prevails: Ore Overcomes April Network Disruption To Claim Solana Hackathon Win

Despite disrupting the blockchain in April, the team behind the proof-of-work powered Solana-native crypto Ore has won the “Grand Prize” at a Solana Foundation-backed hackathon.

For its efforts in the May 6 “Solana Renaissance Hackathon,” focused on finding Solana’s “next wave of high-impact projects,” Ore won $50,000 in USD Coin.

The sudden rise in Ore mining transactions and the recent memecoin mania contributed significantly to Solana’s transaction failure issue in mid-April. At the first instance, more than 70% of non-vote transaction requests knocked back due to this issue.

The Solana Foundation attributed the recent network congestion issues to the high demand for Solana block space and a failure to implement patches related to its networking stack promptly.

Solana developers planned to implement a fix to improve the congestion issue on April 15. However, according to a Dune Analytics dashboard by scarn_eth, the non-vote transaction failure rate still hovers around 62%.

Just 13 days after its launch on April 16, the Ore team temporarily halted mining operations to optimize its system with a second version. According to Ore’s website, mining has recommenced.

Hardhat Chad’s Ore: Solana Mining Revolution

Hardhat Chad, the project’s pseudonymous creator, expressed pleasure at winning the award. He acknowledged that there is still a long journey before he and the Ore team can provide Solana users with a fast, cheap, private, and inflation-proof digital currency that everyone can mine.

Source: Hardhat Chad

Since its victory was announced 12 hours ago, the Ore (ORE) token has surged 115% to $270.8, according to CoinMarketCap

Like Bitcoin’s, Ore’s code operates as a smart contract on Solana’s blockchain. This means many miners can win some block rewards, not just one. Hardhat Chat talked about this in a presentation.

He wants Ore to “make mining fun again” because anyone can do the math with regular laptops, making it easier to get into.

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The author’s views are for reference only and shall not constitute any investment advice. Please ensure you fully understand and assess the products and associated risks before purchasing.

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