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Ore – A cryptocurrency everybody can mine.
In its ideal form, mining is a fun, effective, and egalitarian method of token distribution. Mining allows anyone with access to a computer to earn tokens by solving mathematical puzzles. Unfortunately, most people who try to mine cryptocurrency today find they are unable to win any rewards at all due to the prohibitively high computing requirements. This occurs because as more hashpower comes online to mine a particular token, the smaller players win puzzles less frequently, and eventually getting pushed out entirely. This process consolidates the remaining rewards into a handful of large professional firms. We refer this problem as "miner starvation".
In computer networking, starvation is a failure mode that can occur when a process monopolizes a particular resource and prevents other processes from accessing it. This is what happens in crypto mining today when smaller players are starved out from being able to earn rewards by large professional mining firms. Ultimately, starvation prevents new users from accessing the token via the same direct mechanism that larger, more establish players have the priviledge of using.
Ore solves the miner starvation problem using a new, non-exclusive mining protocol. Rather than positioning every miner in a competition to solve the same puzzle as traditional minable cryptocurrencies do, Ore gives each miner their own individual puzzle to work on. As long as a miner provides a valid solution to their personal puzzle, the protocol guarantees they will earn a reward.
To enforce a stable and predictable token inflation rate, Ore automatically adjusts the earned reward amount on a periodic basis. Larger miners may win a majority of the rewards, but they can't exclude other miners from winning as well.