The community voted a move from Helium Network to the Solana blockchain, the Network no longer needs to maintain its own blockchain.
Helium blockchain which was built from the ground in 2019, now with the proposal (also known as HIP 70) is transferring to Solana which had support of the majority of over 80% vote in favor of moving to the Solana blockchain rather than sticking with the own network.
The Helium Foundation goal is to accelerate the creation of a massive, low-cost decentralized connectivity layer for IoT and 5G use, and now is collaborating with the Solana Foundation to ensure a seamless and efficient migration to Solana.
COO of the Helium Foundation, Scott Sigel, talked about the Solana migration in a stated:
“Solana has a proven track record powering some of the world’s most important decentralized initiatives, and they were an obvious choice for us to partner with. Moving to the Solana blockchain allows us to focus our efforts on scaling the network as opposed to managing the blockchain itself.”
Anatoly Yakovenko, CEO of Solana Labs and co-founder of Solana said:
“Solana and its primary differentiators of scalability, low cost, and energy efficiency are an ideal foundation for Helium to realize its ambitious mission. The Helium community’s vote to migrate to the Solana network is a tremendous endorsement of Solana as the foundation for the next stage of growth for the Helium ecosystem.”
Whit this migration, users can gain better access in the form of hardware and software wallets, DeFi, NFT marketplaces, and composability with other applications in the Solana ecosystem.
The migration does not impact HNT, MOBILE and IOT, which will continue to be the tokens in the Helium ecosystem, when the migration is complete, a new version of the Helium Wallet App will be made available to use other wallets within the Solana ecosystem, like Phantom or Solflare.
Another major news for Helium is step in development by launching a new service known as Helium Mobile, world’s first cryptocarrier, with this move Helium Mobile will bring the power of Helium’s The People’s Network to everyone’s smartphone. Helium Mobile was launched in partnership with TMobile, and revealed that it will allow users to mine MOBILE tokens as a reward for connecting to Helium’s 5G network.
Helium is the world’s largest decentralized wireless network, that has seen impressive growth on the short 3 years of its existence, featuring more than a million hotspots in 73,000 cities of the world.
This news of the Helium migration to Solana blockchain, shoud have positive impact on both Solana and Helium coins price.
Helium is a decentralized machine network powered by a physical blockchain or IoT, the network is created by gateways who also double as miners on our network and can earn tokens based on coverage they provide as well as transaction fees gained from machines connecting to their gateway.
These Hotspots can earn HNT tokens for providing and validating wireless coverage and when devices on the network connect to the internet through Hotspot. HNT tokens are mined and distributed to hotspot owners and Helium Inc.