Helium migrates its blockchain to Solana after partnering with T-Mobile

0
0

On Thursday, the Helium Foundation announced it would move its mainnet to the Solana blockchain after a community vote. Under the proposal, proof-of-coverage and data transfer mechanisms will be moved to Helium Oracles.

Meanwhile, Helium’s tokens and governance will move to that of the Solana blockchain. As told by developers, the benefits of the move would be more of its native token HNT available for subDAO reward pools, more consistent mining, more reliable data transfer, more usability for HNT and subDAO tokens, and more ecosystem support.

ALSO READ  3 Ethereum Competitors to Keep an Eye on Even After the Merger

Helium is a blockchain protocol for wireless communication. That same week, Nova Labs, the maker of Helium, signed an agreement with US telecommunications provider T-Mobile to launch Helium Mobile, a crypto-powered mobile service that allows subscribers to earn crypto rewards. Helium Mobile subscribers with this mobile plan can choose to earn token rewards for sharing coverage quality data and helping identify Helium dead spots across the country. A 5G compatible device is required.

ALSO READ  Gate.io introduces free structure for most trading pairs

As a decentralized wireless network, Helium provides open source coverage worldwide. More than 900,000 helium hot spots have been deployed since its launch in 2019, with 1,000 units per day. There are currently more than 2,500 active Helium hotspots with 5G in 889 US cities since the program went live in August 2022.

Solana, Helium’s new blockchain, is known as a hub for building decentralized applications. In terms of voting transactions, Solana’s daily transactions have grown from approximately 100 million to 200 million per day. The number of blockchain users has risen above 1 million as of May this year. Helium developers recommended the move because of Solana’s ability to improve project operational efficiency and scalability.

ALSO READ  Is MATIC retracement a chance to buy the token?