Helium Network, a communications protocol, plans to migrate to the Solana blockchain on March 27 to enhance its dependability and scalability. The blockchain will be suspended for 24 hours to transition to Solana, during which proof-of-coverage operations and data transmission will continue uninterrupted. Helium’s development team and a working committee of volunteers will manage the relocation process.
After a snapshot of the blockchain, hotspots will be created as non-fungible tokens, and validators will no longer create new blocks during the transition time. The company has stated that token holders and most hotspot owners are not required to take any action. Upon completion, any incentives generated during the previous 24 hours can be exchanged for Helium Wallet tokens.
The upgrade, which was made possible by the community’s vote in favor of HIP-70, is expected to provide more support for the ecosystem, enhance mining, and increase access to the network’s native currency. In September of last year, Helium partnered with T-Mobile to launch a cryptocurrency-powered mobile service that incentivizes subscribers to provide data on coverage quality and dead-spot locations.
The migration to Solana is expected to provide numerous benefits, including faster transaction times, reduced transaction fees, and improved scalability. With Solana, Helium will be able to process up to 65,000 transactions per second, a significant improvement over its current capacity.
The relocation to Solana is part of Helium’s ongoing efforts to enhance the functionality and utility of its network. The Helium Network was designed to be a decentralized, peer-to-peer network that enables devices to communicate with one another using wireless technology. The network is powered by Hotspots, which are small devices that enable devices to communicate with one another. Hotspots also act as validators for transactions on the network, ensuring that they are valid and accurate.
Helium has been rapidly expanding since its launch in 2019, with a growing community of users, developers, and partners. The network has been used for a variety of applications, including asset tracking, smart city infrastructure, and supply chain management. With the migration to Solana and the implementation of Oracles, the network is expected to become even more versatile and useful for a wide range of applications.
In conclusion, the migration of Helium Network to the Solana blockchain is an important development for the network and its community. The move is expected to provide numerous benefits, including improved scalability, faster transaction times, and reduced transaction fees. The implementation of Oracles is also an important step in enhancing the functionality and utility of the network. With these enhancements, Helium is poised to become an even more valuable resource for a wide range of applications and use cases.
