Over the past seven days, crypto-asset solana has gained more than 23% against the US dollar following the announcement that the Helium Network plans to migrate to the Solana blockchain on March 27. Helium Network’s native token, helium, has also rallied, jumping 25% in the past week against the dollar.
Core Helium Devs reveal network migration date to move to Solana
Helium Network, a chain dedicated to the Internet of Things (IoT), plans to migrate with the Solana blockchain network, according to a blog post published by the core developers. The Helium Foundation has scheduled a migration date after “months of meticulous planning and technical development,” according to the post. The Helium team said the upgrade will take place on March 27, 2023, at 10 a.m. ET.
Helium developers say the upgrade will take place over a 24-hour transition and will affect all of the network’s wallets, hotspots and network state. “The completion of the migration marks a new era for the Helium Network, enabling it to achieve greater scale and truly become a network of networks,” the blog post said. “The Helium community has brought in nearly 1 million hotspots, and commercial demand for the network is becoming a bigger focus.”
Both Solana (SOL) and Helium (HNT) tokens have seen a significant increase in the past week, with HNT leading the way. SOL has increased by 8.5% in the last 24 hours and 23% in the last seven days. On February 20, 2023, HNT was up 7.3%, and over the past week it climbed 25% higher. While SOL is the 12th largest blockchain network in terms of market valuation, HNT was ranked 117th on Monday.
According to the Helium team, after the approval of HIP 70, core programmers have developed programs for the Solana network, such as new “management tools on Realms”, the implementation of PoC Oracles, the creation of “Open LNS and Data Transfer Accounting” Oracles,” and loads submitted Helium account state data to Solana Deevnet Core developers from Helium further explained that a majority of HNT token holders and hotspot owners “do not need to do anything to participate in the upgrade.”
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Altcoin Development, Altcoins, Blockchain, Blockchain Network, Blockchain Technology, Commercial Demand, Core Developers, Crypto Assets, Crypto Currency, Crypto Currency Market, Data Transfer Accounting Oracles, Digital Currency, Digital Wallets, Finance, Governance, Helium Network, Hotspots, Internet of Things, Investment, IoT, LNS, Market Assessment, Migration, Network of Networks, Network Scalability, Network Transition, Network Upgrade, PoC Oracles, Solana, Technical Development, Token, Tokenholders
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Jamie Redman
Jamie Redman is the news editor at Bitcoin.com News and a financial technology journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
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