The Helium Network, which is a decentralized network for IoT devices powered by blockchain technology, has announced that it has successfully migrated to the Solana blockchain. The move was made in order to achieve its ultimate goal and increase scalability.
The decision to switch to Solana had been planned for several months, with collaboration between the Helium and Solana teams. Helium’s core developers expressed their excitement about the completion of the migration, saying that it marks a new era of scalability, expansion, and reliability for the largest decentralized wireless network in the world.
The Helium protocol believes that migrating to Solana will bring additional benefits to the ecosystem, including faster transaction speeds and lower costs.
Solana is considered one of the top competitors to Ethereum, and its smart contract capabilities will be well utilized by innovators within the Helium Network. The potential for innovation following the migration is limitless, and both teams are prepared for the next phase in the evolution of each protocol.
The Helium Network migration to @solana is complete! 🎉 🎈
This is an incredible milestone for the global Helium community and ushers in a new era for a highly scalable and resilient Helium Network along with a new world of utility on Solana. pic.twitter.com/SR5eMbchsS
— Helium🎈 (@helium) April 19, 2023
So Far, So Good
As per the Solana Foundation’s update on the migration, the Helium Network has connected one million hotspots since its inception. With the bandwidth available on the Solana ecosystem, there are likely to be more use cases that involve decentralized finance (DeFi) and non-fungible tokens (NFTs).
This is a promising start for the Helium Network’s migration to Solana, and there is potential for even more growth and innovation in the future. Solana is providing Helium users with an advantageous headstart by allowing them to mint connected hotspots as NFTs.
This feature provides additional record-keeping capabilities that would be expensive on other blockchain networks. With the migration to Solana, Helium is now part of a thriving ecosystem of innovators, which can ultimately add value to the community in the long run.
More on the Helium Network
Helium (HNT) is a blockchain-based decentralized network for IoT devices that enables low-powered wireless devices to communicate with each other and share data across its network of nodes. These nodes are in the form of “Hotspots,” which combine a wireless gateway with a blockchain mining device.
Users who operate nodes can mine and earn rewards in Helium’s native cryptocurrency token, HNT. Helium was launched in July 2019 to prepare IoT communication for the future and address the shortcomings of current infrastructure, which were identified since the project’s inception in 2013.
What is Solana?
Solana is a decentralized, high-performance blockchain platform designed to support scalable and fast transactions. It aims to address some of the limitations of other blockchain platforms, such as slow transaction times and high transaction fees.
Solana uses a unique consensus algorithm called Proof of History (PoH), which enables it to validate transactions quickly and efficiently. It also supports smart contracts and decentralized applications (DApps) and has gained popularity for its ability to handle high transaction volumes at low costs.
Solana aims to enable developers to create highly scalable and fast decentralized applications. These include decentralized finance (DeFi) platforms, non-fungible token (NFT) marketplaces, and more.