Skip to content Skip to sidebar Skip to footer

  • The project developers explained that this decision was motivated by Solana’s ability to improve the efficiency and scalability of projects built on it.
  • Many developers consider Solana to be the best network for building decentralized applications.

On September 22, the Helium Foundation released an official statement stating that it would be moving the Helium mainnet to the Solana blockchain following the completion of community votes on HIP Proposition 70. At the end of the voting process, over 81% of token-based voters supported the move to Solana. Part of the proposal states that the Helium oracles would contain the mechanisms for data transfer and proof of coverage.

The Helium Foundation added that it hopes to complete the migration before the end of the fourth quarter of 2022. Nova Labs CEO and network co-founder Amir Haleem told media that he was optimistic that the migration would be completed by the end of the fourth quarter. 2022.

Haleem explained that the Nova Labs team (the representatives of the major contributors and founders of the Helium Network) started working on Helium’s off-chain oracles to ensure that it is compatible with the Solana-based design. The Helium co-founder also said that on-chain work such as redeeming and minting tokens is easier.

However, the Solana blockchain will contain Helium’s tokens and governance. According to the developers, Helium will get several benefits from this move. More of its native token (HNT) will be available for more subDAO reward pools, mining consistency will improve, and better ecosystem support.

Additionally, HNT and subDAO tokens will enjoy greater utility, while data transfer will become more reliable. Earlier in the week, Nova Labs (the company behind Helium) announced a partnership deal with major US telecommunications provider, T-Mobile. The Partnership will lead to the launch of Helium mobile, a crypto-enabled mobile service that allows users to earn digital currency rewards.

Mobile Helium users with a 5G-enabled device can earn token rewards for helping identify Helium dead spot locations around the world. They would also receive the same token rewards for sharing their feedback on the quality of the coverage. Helium, a blockchain wireless communication protocol, provides open source coverage worldwide.

More than 900,000 access points have been deployed with Helium since its launch three years ago, and the units keep increasing by 1,000 every day. Since the program became active last month, there have been more than 2,500 active 5G Helium hotspots in 889 US cities.

Solana as a hub for decentralized application development

According to many project developers, Solana (Helium’s new blockchain) is the best network for building decentralized applications. Based on voting transactions, Solana’s daily trading volume jumped 100% from 100 million to 200 million. The blockchain user base passed the one million mark in May this year.

Helium developers suggested switching to Solana because the blockchain has the right features to scale projects and improve operational efficiency. Once the migration is complete, the team will unveil a new version of the Helium wallet app. The announcement also states that Helium’s Layer 1 blockchain history will remain public. Additionally, users can access the new wallet app by updating their current app.

Source link

Leave a comment