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Helium, the blockchain platform that leverages crypto token incentives to power decentralized wireless networks, might undergo a big transition soon if a recently announced proposal is approved: it could migrate from its blockchain to Solana. The primary developers of Helium explain in the HIP 70 proposal, which was newly published publicly, why they wish to migrate the network from their custom chain to Solana, a leading crypto contract platform for decentralized applications (DApps), NFTs, and decentralized finance (DeFi) protocols. The developers believe this will increase Helium's speed, durability, and capacity to serve more customers. According to a blog post from The Helium Foundation,
"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."
The program calls for the Helium network to transfer all of its tokens - HNT, IoT, MOBILE, and DC (Data Credits) - from its blockchain to Solana. Additionally, it would rely on oracles, or third-party sources of information, to run Helium's proof-of-coverage network and data transmission accounting features. https://twitter.com/Austin_Federa/status/1564725988893802500 The proposal also claims that by using Solana, the Helium community would have a thriving developer ecosystem of hundreds of developers working on projects that are only achievable on Solana because of its quick and affordable transactions.
Helium Offers Crypto Tokens As Rewards
Helium is a decentralized wireless network that rewards customers with cryptocurrency tokens in return for permitting others to utilize their home internet service. According to the current statistics, the platform first debuted with a network made for internet of things (IoT) gadgets like trackers and sensors, and it has now drawn more than 935,000 active node operators. Helium introduced a 5G network for smartphones, tablets, and other devices, which has approximately 3,300 nodes online at present.
Helium Foundation and Nova Labs
The Helium Foundation and Nova Labs, a startup made up of the network's founders and a few core programmers, have declared their intention to adopt a "network of networks" strategy and go beyond the initial HNT reward token. Helium seeks to provide a greater variety of decentralized wireless protocols by including IoT, Mobile, and other future coins. The proposal also states that upon moving to Solana, miners will receive a large proportion of HNT incentive tokens, with a 6.85% increase over the current scheme. Starting on September 12 and concluding on September 18, the Helium Foundation will conduct a token-based community vote on the proposal.