Breaking: Helium Network is migrating to Solana in March here's why
The communications protocol Helium Network is set to migrate to the Solana blockchain on March 27 and deployment aims for scalability and reliability.
The helium chain will be halted Proof-of-coverage and data transfer activities will remain unaffected it takes 24 hours to transition on March 27.
After the helium community votes to migrate to solana, the Helium chain decides to migrate to the Solana blockchain next month.
the Solana migration would help scale the network and boost its adoption instead of expending resources on managing their blockchain.
According to the Helium team "volunteers are being formed to oversee the migration process as well This upgrade will encompass all wallets, Hotspots, and Helium Network state, and will take place over a 24 hour transition period commencing at approx 1500 UTC/ 10:00 AM ET."
ATTENTION!
— Helium (@helium) February 17, 2023
The Helium Network is officially migrating to @solana on March 27th! Are you ready?
Ensure that you've migrated to the Helium Wallet app for a smooth transition. Keep Hotspots active and online to receive IOT tokens.
More in this thread https://t.co/rzk2xcBEJ0
The team added Helium chain validators will stop producing blocks and transactions won't sync after the chain halt. the blockchain will be taken after the migration of all accounts and tokens to the Solana blockchain and hotspots will be minted as nonfungible-tokens (NFTs)
"Note that any rewards generated by Proof-of-Coverage activity in the prior 24 hours will be available to claim in your Helium Wallet after the transition period. Oracles will update claimable balances, and Hotspot Owners will be able to use the new claim function."
Holders of HNT and Mobile tokens will not need to take any action to participate in the upgrade. the same applies to the majority of hotspot owners. although large fleet 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% voting in favor. Helium developers highlighted the migration benefits would include more of its native token available to subDAO reward pools improved mining as well reliable data transfer and ecosystem support.
Last September, Helium creator Nova Labs express an agreement with American telecommunications provider T-Mobilw 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.
Related: Solana unveils Google partnership, smartphones, Web3 store at Breakpoint
