What is Ore?

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Ore ($ORE) is a new cryptocurrency project built by Hardhat Chad on the Solana blockchain that aims to recreate the early Bitcoin mining experience. Launched in 2024, Ore combines elements of proof-of-work mining with modern blockchain technology to create a new kind of digital asset.

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Key Features

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1. Mineable on Solana: Unlike most tokens on Solana, Ore can be mined using proof-of-work, similar to Bitcoin.
2. Accessible Mining: The mining algorithm is designed to be "memory hard," allowing anyone to mine using common devices like phones or laptops.
3. Fixed Supply: Ore has a maximum supply cap of 21 million tokens, mirroring Bitcoin's scarcity model.
4. Emission Schedule: New Ore tokens are created at a rate of 1 ORE per minute.
5. Staking Rewards: Miners can stake their Ore tokens to boost their mining rewards, creating an incentive to hold the asset.

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Future Plans

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Beyond its use as a digital currency, Ore's developers envision potential applications leveraging its mining network:

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1. Compute Power: The network of CPU miners could potentially be used for other computational tasks.
2. Blockspace Utilization: Ore's high usage of Solana's blockspace could be monetized or repurposed.
3. Layer-2 Solutions: The mining network could potentially support security for Layer-2 scaling solutions on Solana.

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How to mine Ore?

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Ore (ORE) offers two distinct mining approaches, catering to different user preferences and technical expertise.

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Manual Mining via Backpack Wallet

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The simplest method involves using a compatible wallet like Backpack Wallet. Miners can connect their wallet directly to the Ore website and create an account to start mining $ORE. This approach eliminates the need for complex setups or technical knowledge, allowing casual users to participate in mining with just a few clicks.

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Automated Mining via CLI

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For more technically inclined users who want to get the most out of their machine, ORE has published an open-source command line interface (CLI). CLI mining offers more control and potentially better optimization but demands a higher level of technical skill. It's ideal for users comfortable with terminal commands and those looking to fine-tune their mining process.

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To install the CLI and get started, follow the instructions provided on Ore's download page.

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Learn more about Backpack

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