25 February, 2024

Helium is Considering Switching to Solana’s Blockchain

1 year ago

12 Dec, 2023

If a recently unveiled proposal known as HIP 70 is approved, the blockchain platform Helium, which employs crypto token incentives to drive decentralized wireless networks, might soon undergo a huge transition by migrating from its own blockchain to Solana’s.

The proposal states the reason for this being that:

Solana offers significant benefits to Helium that include, but are not limited to, scale, community, and composability. This change will be momentous in scope, impact, and benefit to the Helium network and its users.

Helium now operates as a low-power wide-area network (LPWAN), made up of over 1 million hotspots that are part of the Internet of Things (IoT). The company said that it has a wide range of customers who utilize the network for corporate purposes.

The blockchain technology is used by the wireless network mainly as an incentive layer in order to facilitate expansion. As an incentive for users to assist in the expansion of the network’s connection by installing hotspot devices, the company in this case compensates its customers in native helium tokens.

The proposal further reads:

The Helium community will gain a thriving developer ecosystem of thousands of developers worldwide who are working on applications that are only possible on Solana due to its fast and cheap transactions.

The company added that there is now an overwhelming selection of L1 choices on which to build. It became abundantly evident that the Helium community could profit from the innovations and shared resources from the wider sector.

As a result, rather than spending time and effort upgrading Helium’s L1, the Helium community opted to benefit from those developments. From September 12th through the 18th, members of the community may vote on the proposal using token-based voting. There has been no official announcement as to when a possible move could occur.