Helium Network to Migrate to Solana Blockchain

To increase its scalability as well as its dependability, Helium Network has chosen March 27th to transfer its communications protocol to the Solana blockchain. This will allow for the deployment of Oracles.

According to a blog post published on February 17th, the current version of the Helium blockchain will be placed on hold until March 27. The transition period will last twenty-four hours. It will not disrupt data transmission and proof-of coverage operations. A working committee of volunteers from the community is being formed to oversee the relocation process. On the upcoming update, the Helium development team issued the following statement: “This upgrade will cover all wallets and Hotspots as well as the Helium Network state. It will take effect during a 24-hour transition period, which begins at approximately 1500 UTC / 10:00 ET.

The chain will be stopped and validators won’t create new blocks. Transactions won’t be synchronized if the chain is shut down. After all accounts and tokens have been transferred to the Solana Blockchain, a final snapshot of that blockchain will be taken. Hotspots will then be created using non-fungible tokens (NFTs). You can redeem any incentive tokens that you earned through Proof-of-Coverage activities within the past 24 hours for Helium Wallet tokens after the transition is complete. Hotspot Owners and Oracles will have access for the new claim function.

To take part in the update token holders of MOBILE and HNT will not need to do any additional actions. This is true for most Hotspot owners, although large fleet owners may be able test claim capabilities and design bespoke wallet solutions.

The community voted for HIP-70 on September 22nd with a greater than eighty percent acceptance rate. This made it possible to relocate to Solana. Developers at the time stressed that one of the benefits of the move would include an increase of the country’s native currency that would be available for subDAO rewards pools, an improvement of mining, as well as more reliable data transmission and ecosystem support.

Nova Labs (the company that created Helium) also announced in September that it had reached an arrangement with T-Mobile USA to launch a cryptocurrency-powered mobile service. This would allow subscribers to earn crypto rewards by sharing data about coverage quality and helping to identify Helium dead-spots throughout the country.

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