Helium Network Moves To Solana Blockchain After Community Vote

After a successful community vote, the Helium Foundation has announced the move of the Helium Network, a decentralized network that powers wireless communication protocols, to the Solana blockchain.
Helium Network Moves To Solana Blockchain After Community Vote

The network, which has run its own Layer 1 blockchain since its debut in 2019, suggested the conversion in August via a Helium Improvement Proposal, HIP70.

The move intends to grow Helium to suit the needs of builders and users, contributing to the objective of accelerating the decentralized wireless network of Helium 5G and more than 945,000 user-managed Internet of Things (IoT) hotspot devices. In a statement, Scott Sigel, COO of the Helium Foundation, said:

“We have an ambitious mission of deploying and managing wireless networks at scale and moving to Solana allows us to do that.”

Helium Network Moves To Solana Blockchain After Community Vote

The shift of helium to Solana is anticipated for the fourth quarter of 2022. The Helium Foundation stated that it will collaborate with the Solana Foundation to guarantee a smooth transition. The Solana’s co-founder, Anatoly Yakovenko 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.”

The Helium governing board issued the community-approved declaration after the HIP70 proposal received 81.41% approval from 7,447 votes after the voting closed early Thursday.

Helium Network Moves To Solana Blockchain After Community Vote

Helium’s migration to Solana has no effect on HNT, MOBILE, or IOT, which will continue to be Helium ecosystem tokens issued on Solana. Applications and governance for the Helium Network will also be transferred.

A new version of the Helium Wallet app will be issued after the migration is complete. Other wallets in the Solana ecosystem, such as Phantom and Solflare, will also be available to users.

The announcement comes after Helium development firm Nova Labs signed a five-year agreement with T-5G Mobile’s services to assist plug gaps in Helium’s coverage.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News

Helium Network Moves To Solana Blockchain After Community Vote

After a successful community vote, the Helium Foundation has announced the move of the Helium Network, a decentralized network that powers wireless communication protocols, to the Solana blockchain.
Helium Network Moves To Solana Blockchain After Community Vote

The network, which has run its own Layer 1 blockchain since its debut in 2019, suggested the conversion in August via a Helium Improvement Proposal, HIP70.

The move intends to grow Helium to suit the needs of builders and users, contributing to the objective of accelerating the decentralized wireless network of Helium 5G and more than 945,000 user-managed Internet of Things (IoT) hotspot devices. In a statement, Scott Sigel, COO of the Helium Foundation, said:

“We have an ambitious mission of deploying and managing wireless networks at scale and moving to Solana allows us to do that.”

Helium Network Moves To Solana Blockchain After Community Vote

The shift of helium to Solana is anticipated for the fourth quarter of 2022. The Helium Foundation stated that it will collaborate with the Solana Foundation to guarantee a smooth transition. The Solana’s co-founder, Anatoly Yakovenko 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.”

The Helium governing board issued the community-approved declaration after the HIP70 proposal received 81.41% approval from 7,447 votes after the voting closed early Thursday.

Helium Network Moves To Solana Blockchain After Community Vote

Helium’s migration to Solana has no effect on HNT, MOBILE, or IOT, which will continue to be Helium ecosystem tokens issued on Solana. Applications and governance for the Helium Network will also be transferred.

A new version of the Helium Wallet app will be issued after the migration is complete. Other wallets in the Solana ecosystem, such as Phantom and Solflare, will also be available to users.

The announcement comes after Helium development firm Nova Labs signed a five-year agreement with T-5G Mobile’s services to assist plug gaps in Helium’s coverage.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News

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