Communications protocol Helium Network is expected to make transition to Solana blockchain on March 27, 2023. It is believed that the platform is expected to make deployment of oracles for growth of scalability and reliability, as reported by Cointelegraph.
According to Cointelegraph, the transition will take place over 24 hours during which Helium blockchain will be put to halt. Reportedly, Proof-of-Coverage and data transfer activities will not face implications of the event. Sources suggest that a working group of community members will look after the migration process.
“This upgrade will encompass all wallets, Hotspots, and Helium Network state, and will take place over a 24-hour transition period commencing at approximately 1500 UTC / 10:00 AM ET,” Helium’s team mentioned.
On the basis of information by Cointelegraph, post the chain vault, validators will discontinue producing blocks and transactions won’t sync. A last blockchain snapshot will be processed after migration of all accounts and tokens present on Solana blockchain, and hotspots’ minting will be done as non-fungible tokens (NFTs).
Moreover, Cointelegraph noted that holders of HNT and MOBILE tokens will not require to involve themselves in the upgrade, along with maximum number of hotspot owners. On September 22, 2023, the Solana move was permitted by the community passing HIP-70, with more than 80% voting in favour.
(With insights from Cointelegraph)