5G Wireless Network Helium Proposes Migration to Solana Blockchain

Helium proposes to move its 5G wireless network, previously known as HIP 70 to Solana to improve efficiency.

Helium network, founded in 2013, is the world’s first peer to peer LoRaWAN wireless Internet of Things. It’s also known as “People’s Network”.

Helium is revolutionizing the way that we connect and extend wireless networks around the globe. Helium’s expanding network of hotspots makes it possible for anyone to operate a wireless network that can be used by low-power Internet of Things devices. Customers can also earn money by joining the network via a cryptographic token called HNT.

According to Helium Foundation, it meets current user needs by switching to the Solana Blockchain to speed up transaction speeds, increase uptime, and make it more compatible with other blockchains.

Helium developers said that:

“Solana is a layer 1 blockchain that focuses on the importance of scalability and speed and the network does not compromise on security or scalability.”

This proposal was submitted to the community for their vote. The voting began on September 12, and ended September 18.

At the moment, there are more than 1,000,000 “hotspots” on Helium, with most of them located in the US and Europe.

The network’s future prospects are also confirmed by the addition of large institutions like Andreessen Horowitz.

Coinmarketcap data shows that the HNT token lost 1.09% over the past 24 hours on September 2. Market cap $613,196.579. HNT traded at $4.89 at the time of writing

Helium raised $200m in Series D funding from Tiger Global and FTX Ventures in February. The round was valued at $1.2billion.

Source: Shutterstock



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