Helium will migrate its own blockchain to Solana by the end of the year. – Latest News

The community Helium voted to migrate its ecosystem from its native blockchain to Solana. The migration to Solana was carried out with a majority vote of 81% on the HIP70 improvement proposal. In addition, the migration will take place from here in October until December 2022.

The passing ofHelium to the Solana network

Helium is a blockchain-based network powering a wireless communication protocol powered by thousands of individual users. Indeed, it will migrate its own dedicated layer 1 blockchain to the Solana blockchain. This will allow it to interact seamlessly with other apps Challengeof the NFT and apps Web3 living in the Solana ecosystem.

According to Scott Sigel, COO of the Foundation Heliumthis migration is essential to evolve its decentralized wireless network.

“We have an ambitious mission to deploy and manage large-scale wireless networks, and migrating to Solana allows us to do that. Solana has a proven track record of powering some of the world’s largest decentralized initiatives, and it was an obvious fit for our partnership. Moving to the Solana blockchain allows us to focus our efforts on scaling the network rather than managing the blockchain itself.”

The helium core development team first came up with the HIP 70 on September 1, 2022. As a reminder, Nova Labsthe company behind the blockchain Heliumrecently announced a strategic partnership with T-Mobile. They getting ready to launch Helium Mobile with service 5G.

To discover: The Uniswap Foundation awards $1.8 million in grants.

Multiple advantages

The decision to opt for Solana came after the team has scrutinized other blockchains that would allow it to move from maintaining its own blockchain to building wireless applications. The developers said the economies of scale and Solana’s arsenal of developer tools were a key driver. The ability to interact with decentralized financial applications and NFT marketplaces on Solana also played a key role.

Helium uses a unique proof-of-coverage algorithm that rewards users who prove that the network coverage exists in a given region. Participants deploy devices called hotspots which function as both miners and hotspots without net receive mining rewards through wireless means rather than through a mining computer. The proof of cover algorithm intermittently poses cryptographic challenges to hotspots to prove that they are indeed providing network coverage at a given time in a specific location. When migrating to Solana, the number of cryptographic checks will increase, which will improve the reliability of coverage.

After switching to Solana, a new version of the application Helium wallet will also be published. The holders of NHT may hold their assets in Solana portfolios. Developer team envisions greater utility for tokens NHT, IoT and MOBILE within the Solana ecosystem. Users ofHelium Mobile will be able to earn MOBILE tokens using their smartphones.

Migration elicits a negative reaction from the community.

Additionally, industry experts and community opinions Helium on migration have been mixed. Last week, a venture capital fund behind Algorand suggested that Helium migrates to Algorand.

After HIP70some server members Discord of Helium rejected the idea. This due to Solana’s history of network outages. Others have complained about having no say in the choice of blockchain. Some offer Cardano and Cosmos.

See more: The Bank of England raised interest rates by 50 basis points.

We wish to give thanks to the writer of this article for this outstanding web content

Helium will migrate its own blockchain to Solana by the end of the year. – Latest News

Check out our social media profiles and other related pageshttps://metfabtech.com/related-pages/