d0zingcat/ore
1
0
Fork 0
mirror of https://github.com/d0zingcat/ore.git synced 2026-05-13 15:09:57 +00:00
Code Issues Packages Projects Releases Wiki Activity

Update README.md

Browse Source
This commit is contained in:
Hardhat Chad
2024-03-07 21:26:23 -06:00
committed by GitHub
parent ee5ea1f4f4
commit 80a6f9b99d
1 changed files with 1 additions and 1 deletions
Download Patch File Download Diff File Expand all files Collapse all files

2
README.md
View File

@@ -7,7 +7,7 @@
The primary innovation of Ore is to offer mining rewards that are non-exclusive. In traditional proof-of-work systems such as Bitcoin, mining rewards are exclusive. That is, only one miner can win every ~10 minutes, and that miner takes home all the tokens for the round. This has had the longterm effect of starving out casual miners who are simply unable to keep up in the arms race against much larger and well-resourced professional mining firms.
The primary reason Bitcoin is designed this way is that its proof-of-work system serves two roles. It's responsible not only for distributing tokens, but also for coordinating network consensus. This makes sense as the tokens are intended to be rewards for those who dedicate resources to securing the Bitcoin network. However due starvation problems outlined above, it has the unintended consequence of excluding major portions of the global population (>99%) from ever being able to mine. This ultimately limits the number of people who can reasonably acquire the token, and thus contributes to further consolidating the supply. Ore takes a different approach.
The primary reason Bitcoin is designed this way is that its proof-of-work system serves two roles. It's responsible not only for distributing tokens, but also for coordinating network consensus. This makes sense as the tokens are intended to be rewards for those who dedicate resources to securing the Bitcoin network. However due starvation problems outlined above, it has had the unintended consequence of excluding major portions of the global population (>99%) from ever being able to mine. This ultimately limits the number of people who can reasonably acquire the token, and thus contributes to further consolidating the supply. Ore takes a different approach.
Ore builds upon the consensus layer provided by Solana and uses it to reimagine proof-of-work purely as a token distribution mechanism. So rather than setting up every miner in a winner-take-all competition against one another, Ore gives each miner their own individual computational challenge. As long as a miner provides a valid solution to their personal challenge, the protocol guarantees they will earn a piece of the supply. Since no miner can be censored from the network and valid solutions are non-exclusive, starvation is avoided.