Helium Foundation made the announcement that it would be making the transition of moving its mainnet to the Solana blockchain post a community vote. Insights from the proposal proof-of-coverage and data transfer mechanisms will be shifted to Helium Oracles, as reported by Cointelegraph.
According to Cointelegraph, Helium’s tokens and governance will be shifted to the Solana blockchain. With regard to developers, the benefits of this initiative would include more of its native token HNT available to subDAO reward pools, consistency in mining and ensurance of data transfer, increase in utility for HNT and subDAO tokens, and more ecosystem support.
On the basis of information by Cointelegraph, Helium is a blockchain wireless communications protocol. Nova Labs, the creator of Helium, signed an agreement with American telecommunications provider T-mobile to unveil Helium Mobile, a cryptocurrency-based mobile service that will allow subscribers to win cryptocurrency rewards. Helium Mobile subscribers, through the cellular plan, can choose to earn token rewards for sharing data on coverage quality and helping identify Helium dead-spot locations globally. Furthermore, a 5G based device will be necessary. Being a decentralised wireless network, Helium helps provide open-source coverage worldwide. Since its inception in 2019, more than 900,000 hotspots utilising Helium have reportedly been launched, with 1,000 units added on a daily basis. Currently, there are over 2,500 active Helium hotspots with 5G in 889 US cities, since the prorgram went live in August, 2022.
Moreover, Cointelegraph noted that Solana, Helium’s new blockchain, has developed a reputation for building decentralised applications. Reportedly, Solana’s average number of transactions have grown from 100 million to 200 million on a daily basis. Starting from May of 2022, the blockchain’s user count has went past one million. Helium developers suggested the shift on account of Solana’s capacity to develop operational efficiency and scalability of projects.
(With insights from Cointelegraph)
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