The release of Solana’s on-chain mining project Ore v2 includes three phases: upgrading v1 token metadata, activating upgrades, and mining

Hardhat Chad, the anonymous creator of Solana's on-chain mining project Ore, shared more information about ORE v2 on X and revealed details of various features that will be launched in the coming days and weeks: 1. No governance system is designed in ORE v2, and there is no administrator (admin), but it chooses to rely on open source algorithms to manage all key program-wide variables; 2. ORE will have a fixed total supply of 21 million tokens, and it is expected that all ORE will be mined by 2064; 3. v2 will introduce a staking mechanism, through which miners can obtain mining reward multipliers. The multiplier 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 and deliberately set it to be non-parallelizable, thereby minimizing the performance gap between consumer devices and hardware-optimized systems; 5. v2 redesigned the reward calculus to suppress witch attacks, and miners will maximize rewards by submitting the most difficult hashes every minute; 6. v2 will launch an open source command line interface and web application. After release, the team will port these clients to native desktop and mobile devices, starting with Solana Saga; 7. The ORE smart contract will remain upgradeable for a period of time in case emergency actions are needed to manage the protocol during the launch phase. After launch and after the mining dynamics are considered fairly stable, the contract will be permanently frozen. Once frozen, ORE will never be changeable; 8. All ORE v1 tokens will be upgraded to the new ORE token in a 1:1 ratio, and the window for upgrading v1 tokens will be open for 3 months. After this, the upgrade function will be disabled and all future integrations will be carried out using the new ORE token. 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.