Helium Network to Migrate to Solana Blockchain and Deploy Oracles
The Helium Network has announced that it will be migrating to the Solana blockchain and deploying Oracles on March 27th. This move is intended to improve scalability and reliability for the network.
A 24-hour transition period will take place on March 27th, during which the current Helium blockchain will be halted. However, Proof-of-Coverage and data transfer activities will remain unaffected. A working group of community volunteers is being formed to oversee the migration process.
Holders of HNT and MOBILE tokens will not need to take any action to participate in the upgrade. The same applies for the majority of Hotspot owners, although large fleets’ owners may be able to test specific claim functionality or develop custom wallet solutions.
The move to Solana was enabled by the community passing HIP-70 with over 80% of approval on Sep. 22. Benefits of the migration include more of its native token available to subDAO reward pools, improved mining, as well as more reliable data transfer and ecosystem support.
In addition, Helium’s creator Nova Labs announced an agreement with American telecommunications provider T-Mobile to launch a crypto-powered mobile service enabling subscribers to earn crypto rewards for sharing data about coverage quality and helping identify Helium dead-spot locations nationwide.
The Helium Network’s migration to the Solana blockchain and deployment of Oracles is an exciting development that will bring many benefits to the network. With the help of the community, the migration process should be a smooth one.