d0zingcat/ore
1
0
Fork 0
mirror of https://github.com/d0zingcat/ore.git synced 2026-05-13 23:16:52 +00:00
Code Issues Packages Projects Releases Wiki Activity

Update README.md

Browse Source
This commit is contained in:
Hardhat Chad
2024-03-07 21:26:43 -06:00
committed by GitHub
parent 80a6f9b99d
commit ab6fb57105
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

@@ -5,7 +5,7 @@
## How it works
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 innovation of Ore is to offer mining rewards which 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 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.