Developers of Helium suggest giving up their own blockchain for Solana

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Last Updated on September 1, 2022 by Bitfinsider

Following the announcement of a new HIP 70 governance proposal on Tuesday, the Internet of Things (IoT) blockchain network Helium may switch over to the Solana blockchain.

The Helium core developers claimed that in order to bring about “significant economies of scale” for the network, it was necessary to “improve operational efficiency and scalability.”

In order to provide decentralized wireless 5G network coverage for internet users in their area, members of the Helium network install Helium Hotspots. When network connectivity is confirmed, Helium uses a novel consensus method called proof-of-coverage to award HNT tokens to Helium Hotspot providers.

The proposal comes as Helium’s creators have underlined the necessity of resolving a number of technological problems in order to enhance the network’s functionality.

According to the Helium GitHub website, the HIP 70 proposal has been made to enhance these data transport and network coverage capabilities.

Source: Twitter

If approved, the Solana blockchain would also get data credits (DCs) and helium-based HNT, IOT, and MOBILE tokens.

Hotspot providers contribute to the network’s HNT, LoRaWAN node operators contribute to the network’s IOT, 5G coverage providers contribute to the network’s MOBILE, and DCs are used to pay transaction fees.

The Helium network has been running on its own blockchain ever since it was founded in 2013. Arman Dezfuli-Arjomandi, presenter of The Hotspot podcast, wrote on Twitter multiple times that “Ethereum was too slow” and “other alternativesĀ weren’t all that appealing:”

Despite having almost a million Helium Hotspots installed worldwide and having investors like Google Ventures backing it, the network hasn’t been without its share of detractors.

Following the revelation that the network was only making $6,500 per month from data use revenue while having raised over $350 million, businessman Liron Shapira blasted the network for having a “complete lack of end-user demand.” To add on, a four-hour downtime on the Helium network also hampered HNT token holders’ ability to swap their tokens and stopped Helium Hotspot miners from getting paid.

Favourable response coming from the community

The Helium community as a whole has reacted favorably to HIP 70 and is of the opinion that the integration with Solana will be extremely advantageous to developers.

Should the advice be accepted, Ryan Bethencourt, a partner at Web3 supporter Layer One Ventures, informed his 16,000 Twitter followers that the proposal is “huge” for Helium and Solana.

On September 12, HNT token holders will have access to the HIP 70 vote on heliumvote.com. Election day is stated to end on September 18.

The price of HNT, which is currently $5.23 and has decreased 15.5% over the past 48 hours, does not seem to have been positively affected by the news.


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Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

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