ZKPs-powered Mining Algorithm Soland Announces Its Launch And 20-Day Miner Pre-Sale
In Brief
Soland has officially launched and commenced its 20-day initial round of miner pre-sales, preceding the genesis mining event.
Mining project within the Solana ecosystem, Soland (SLD), announced that it has officially launched. Concurrently with the launch, the initial round of miner pre-sales has begun. This pre-sale phase is scheduled to extend for a duration of 20 days, following which the genesis mining will commence.
Soland implements the foundational algorithm of Proof of Succinct Work (PoSW), integrating the strengths of both Proof-of-Work (PoW) and Proof-of-Stake (PoS) mining models while addressing the limitations inherent in these approaches. By balancing block rewards based on computing power and dynamically adjusting mining difficulty, Soland aims to encourage broader participation in mining and node governance, thereby enhancing the value proposition of SLD.
SLD serves as the native token within the Soland ecosystem, with a total supply capped at 2,000,000 tokens. Block rewards are generated collectively from the computational power contributed by the entire network.
Following its launch, the project also announced its plan to host a $100,000 SLD giveaway, encouraging users to subscribe to its accounts on social media platform X and engage in activities such as leaving a comment and filling out the official form to qualify for a share of the rewards. The event will run from 8:00 UTC on May 13th to the 15th.
Keep track of cryptocurrency distributions in our Airdrops Calendar.
Bitcoin-Like Mining Debuts On Solana, Ore Reaches Peak Price Of $3,786 Upon Launch
Bitcoin-like mining has recently made its way onto the Solana network with the introduction of a similar project named Ore, which gained traction following its launch last month.
Ore adopts the fundamental concept of mining, wherein miners solve cryptographic puzzles to safeguard the network while earning cryptocurrency and apply it to the launch of its own token on the Solana blockchain. Miners have the opportunity to receive a portion of 1 ORE per minute, distributed based on the number of puzzles each miner successfully solves.
Ore commenced trading on April 2nd and reached its highest recorded price of $3,786 on April 5th, as reported by DEX Screener. Presently, it is trading at $453.
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
More articles
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
