The crypto transition from helium to solana
Helium would transfer all its tokens to Solana
If a recently announced proposal is approved, Helium, the blockchain platform that leverages crypto-token incentives to power decentralized wireless networks, could soon see a big change, switching from its own blockchain to Solana.
The HIP 70 proposal, which was just published, explains why the core developers of Helium want to transfer the network from their own custom chain to Solana, a leading smart contract platform for decentralized apps (dapps), network function tokens (NFTs). and decentralized finance (DeFi) protocols. The creators believe that this will, in short, increase Helium’s speed, reliability and capacity to serve more users.
According to sources, Solana Helium provides tremendous advantages that include, but are not limited to, size, community, and composition. The Helium network and its users will benefit greatly from this shift, and it will be of historic size and impact. The Helium network would transfer all its tokens from its own blockchain to Solana in accordance with the plan. Additionally, it will rely on oracles, or external data sources, to run Helium’s proof-of-coverage architecture and data transfer accounting functions.
Networks made for IoT
The proposal claims that by using Solana, the Helium community will have a robust development ecosystem with hundreds of developers working on products that are only achievable on Solana due to its fast and inexpensive transactions. In return for allowing others to use their Internet service at home, subscribers to the Helium distributed wireless network are paid in bitcoin tokens. As an illustration, a user can operate a Helium node or hotspot connected to the modem or router, earn crypto tokens by protecting the network, and then share the connection with other devices.
According to the latest data, the platform first debuted with a network made for the Internet of Things, or IoT gadgets like trackers and sensors, and it has now attracted more than 935,000 active node operators. A 5G network for phones, tablets and other devices was just introduced by Helium, and it now has around 3,300 nodes in operation.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while graduating. A keen observer of detail, he shares his passion for writing alongside being a developer. His backend knowledge of blockchain helps him bring a unique perspective to his writing
