Ore creator proposes rewards to tackle Solana congestion

The anonymous figure behind the Ore project, known as Hardhat Chad, has proposed an idea for the Solana Foundation: if they want to encourage testing on their network, they could consider offering rewards.

For about a week, the Solana network has experienced significant congestion, resulting in a failure rate of up to 75% for transactions. (Or: The Solana network dealt with heavy traffic and transaction failures for nearly a week, reaching as high as a 75% failure rate.)

On X social media, Chad proposed that to attract more users for testnet engagements like trying out new Solana blockchain features or protocols, the Solana Foundation could offer incentives using SOL tokens.

An incentive may encourage users to participate enthusiastically in testing the platform, leading to enhanced functionality and the detection of possible problems prior to its release on the main network.

Some community members backed Chad’s proposal, while others voiced their opposition. TheSoftwareJedi was among the dissenters, urging Chad to work on his project initially and show good faith towards the foundation before making any further suggestions.

The user suggested that Chad might consider applying for financial assistance from the foundation, but emphasized the importance of maintaining independence from the foundation’s influence.

Ore creator proposes rewards to tackle Solana congestion

Chad made it clear that he doesn’t require financial assistance from the foundation. Instead, his focus for Ore is on creating a currency rather than developing testnet tools. He’s reconsidering incentives to deal with spam and pondering if it’s essential to prioritize building testnet spam bots.

After Chad shared on social media that it was crucial to halt mining operations right away for the health of the Solana network and Ore’s shareholders, this proposal follows suit. Chad highlighted the importance of updating the smart contract system in response to the network’s recent challenges.

This action is consistent with our plan for creating Ore’s next edition (v2), demonstrating our dedication to the project’s long-term viability.

The blockchain initiative Ore, which operates on the Solana platform, is investigating an appropriate distribution method using a proof-of-work (PoW) token mechanism. By merging the robust security of PoW with Solana’s swift transaction processing, the project aims to strike a balance between security and efficiency.

After being introduced, Ore’s actions have led to a substantial increase in Solana’s network congestion, affecting transaction planning and resulting in a large number of unsuccessful transactions, particularly during the memecoin craze on the platform.

Solana developers have rolled out a new mainnet beta version, 1.17.31, specifically designed to tackle the current network congestion issue on the Solana blockchain.

In this update, you’ll find adjustments that aim to alleviate current network traffic issues. More refinements are in store for version 1.18.

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2024-04-17 10:45