cryptocurrency

Helium drops its blockchain to Solana

  • After the migration is complete, a new version of the Helium Wallet app will be released.
  • HNT token holders will also be able to use other wallets within the Solana ecosystem.

Helium community members have voted to move the decentralized Wi-Fi network from the blockchain, officially known as HIP 70, to the Solana blockchain. With the acquisition of more than 12 million HNT, 6,177 community members voted for the move.

Helium developers have suggested switching to Solana to help scale the protocol with more efficient transactions and interoperability. All tokens, applications, and governance will be transferred to the network.

After migration, HNT, MOBILE, and IOT tokens will be issued on the Solana network and will continue to be used in the Helium ecosystem. When the migration is finished, a new version of the Helium Wallet app will be released. Furthermore, the blockchain history of the Helium 1 layer will be announced. Users will be able to access the new application by updating the existing wallet application. HNT holders can also use Solana ecosystem wallets.

100 billion deals in two years

Solana reached a milestone on September 22 when the number of Solana-based transactions reached 1 billion since its launch in 2020. Although the network is experiencing issues with the speed of the blockchain, it appears that transactions on the platform have not been affected. The network guru validates their website’s claim to be forever fast.

Although the network performed great, it had many issues. These include frequent network outages, which are often uncomfortable. In August, Solana’s network was also exposed to network abuse, affecting many wallets. The network is gaining popularity and acceptance due to its speed and lower transaction costs.

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