Helium Network, a blockchain-based decentralized wireless network, has announced that it will migrate to the Solana blockchain on March 27th. The move is aimed at increasing scalability and reliability for the Helium Network.
According to CoinMarketCap, the announcement has caused SOL value to soar by 10%, with an impressive 347.99% rise in trading volume in the last 24 hours, currently trading at $26.31.
In a blog post, Helium Foundation stated that the migration date was finalized after months of meticulous planning and technical development. According to the blog post:
An Upgrade Readiness Working Group is being formed with volunteers in the community to oversee the migration process and will have the final say in the migration date.
Solana & Helium Network: Benefits Of The Migration
The Helium Network is about to enter a new era with its migration to the Solana blockchain, enabling greater scalability and transforming it into a network of networks.
With nearly one million hotspots and growing commercial demand, the Helium community can now focus on building wireless protocols and facilitating utility across networks. Solana’s speed and scalability are well-suited for this transition.
Upon completion, HNT will natively integrate with other platforms in Solana’s ecosystem, providing added utility for HNT, MOBILE, and IOT token holders. The Helium Foundation has established an ad-hoc Upgrade Readiness Working Group comprising technical experts and stakeholders from the community to ensure a successful migration.
The Helium core developers have been working diligently on several initiatives since the Helium community approved HIP 70. These initiatives include creating Solana blockchain programs, developing new Governance tools on Realms, implementing PoC Oracles, establishing Open LNS and Data Transfer Accounting Oracles, and loading Helium account state data to the Solana Devnet.
On March 27th, 2023, the final phase of the upgrade will commence around 1500 UTC / 10:00 AM ET, with a 24-hour transition period. All users will be transferred to the Solana blockchain, and while the current Helium blockchain will be temporarily halted, Data Transfer and Proof-of-Coverage activities will remain unaffected, as per the blog post.
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