Ore won the Solana hackathon in April despite disrupting Solana’s network.

The team behind Solana’s proof-of-work-based cryptocurrency Ore won the “grand prize” at a hackathon sponsored by the Solana Foundation last month, despite the project causing major disruption to the blockchain.

Ore won $50,000 USD Coin (USDC) for his efforts at the “Solana Renaissance Hackathon” on May 6th, which focused on finding Solana’s “next impactful projects.”

However, the rapid increase in ore mining transactions and the recent memecoin craze were two of the main reasons for Solana’s transaction failure issues in mid-April. This issue initially led to the cancellation of over 70% of non-voting transaction requests. example.

The Solana Foundation stated that recent network congestion issues were caused by high demand for Solana block space and the failure to implement patches related to the networking stack in a timely manner.

Solana developers planned to implement fixes to improve congestion issues on April 15. However, according to Scarn_eth’s Dune Analytics dashboard, the non-voting transaction failure rate still hovers around 62%.

The ore team also temporarily halted its own mining operations just 13 days after launch on April 16 to optimize the system for a second version. According to Ore’s website, mining appears to have resumed.

Hardhat Chad, the pseudonymous founder of the project, was delighted to receive the award, but said “there is still a long way to go” before he and the Ore team can provide Solana users with “a fast, cheap, inflation-protected digital currency that anyone can use.” I admitted it. “It’s mine.”

According to CoinMarketCap, the ore (ORE) token has risen 115% to $270.8 since the win was announced 12 hours ago.

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Ore’s codebase is based on Bitcoin, but written with Solana smart contracts in a way that allows multiple miners to share the network’s block rewards instead of them being paid out to a single miner, Hardhat Chat explained in the presentation.

He hopes Ore will “make mining fun again” by lowering the barrier to entry by allowing calculations to be performed on a regular laptop.

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