Helium Will Start Launching On The Solana Network On April 18

Key Points:

• The Helium-Solana migration is scheduled for 18 April.
• During this time, no action is required by hotspot device owners or token holders.

According to the official statement, Helium, a decentralized wireless network, has agreed to switch to the Solana network.

The Helium blockchain will be shut down at 16:00 UTC on April 18. During the transition phase, the network will continue to provide proof-of-coverage and data transfers, but users will be unable to transfer tokens or interact with the blockchain. Owners of hotspot devices and token holders are not needed to take any action at this time. When the migration is complete, tokens will be available at any time.

This community-approved strategic move intends to use Solana’s scalability, cheap transaction costs, and high-performance characteristics, including its quick transaction throughput and energy-efficient consensus process.

The migration to Solana provides significant benefits to the Helium Network: it allows IoT and mobile networks to support even greater scale, it supports more sophisticated Proof of Coverage algorithms, and it improves network robustness, making it an even more robust solution for high-demand applications.

The Helium team said earlier this month that the shift to the Solana will provide HNT holders access to “a world of DeFi, NFTs, smart contract capabilities, DAOs, and more.”

The Solana bulls have returned to action. When Helium Networks announces a merger date, Solana surges into the double digits.

SOL, the native token that powers layer-1 blockchain Solana, has risen more than 11% in a single day, making it the greatest gainer among the top 50 cryptocurrencies by market value.

HNT’s price, which had been consolidated at $1.87 throughout the previous month, increased rapidly starting on April 12 as the altcoin market responded positively to Ethereum’s Shanghai upgrade. Around $2.2 million in HNT has been exchanged in the last 24 hours due to increased market activity for Helium.

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.

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Harold

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