Decentralized peer-to-peer 5G network Helium is offering to migrate to Solana in search of more efficient operations.
Ultimately, the Internet as we know it and all digital networks are just a means of device-to-device communication. Whether that communication is wired or wireless depends on some form of physical infrastructure. 5G, or the 5th generation of wireless communication technology, is essentially an upgrade to the hardware (and software) that handles communication between cellular devices. As operators continue to struggle with declining revenue and profitability, blockchain is seen as the next revenue opportunity.
Founded in 2013, the network Helium is the world’s first peer-to-peer LoRaWAN Wireless Internet of Things, also known as “People’s Network”. At present, the network has more than one million “hotspots” operating on the Helium network, most of which are concentrated in the United States, Europe and China. Helium is a decentralized wireless network where individuals can earn cryptocurrency tokens by making their home internet connection available to others. By ensuring network security and allowing nearby devices to share their connection, users of the Helium node (or access point) can, for example, earn cryptographic tokens. The Helium Network uses a decentralized network of access points to provide long-distance connectivity to Internet of Things (IoT) devices and, in the long term, to connect any device to the Internet through wireless networks such than 5G.
According to recent statistics, the platform has attracted more than 935,000 active node operators since its launch with a network optimized for IoT devices such as trackers and sensors. About 3,300 nodes make up Helium’s 5G network, which was recently launched and is optimized for mobile devices like smartphones and tablets.
The Helium Foundation says it is responding to current user needs by switching to the Solana blockchain to achieve faster transaction speeds, longer uptime, and greater interoperability with other blockchains. The proposal to ditch their blockchain in favor of Solana has been dubbed “HIP 70”. In February, Helium raised $200 million in a Series D funding round led by Tiger Global and FTX Ventures at a valuation of $1.2 billion.
Read more in the newsletter.
Excerpt from the #94 newsletter on 5G
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The 5G Helium network should migrate to the Solana blockchain
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