Helium token owner approved the move to Solana Blockchain
Helium token owner approved the move to Solana Blockchain
- The step is to make helium tokens more compatible with other crypto applications
- More than 6,000 community members voted for migration, while around 1,000 were right
token holder of the decentralized mobile phone provider Helium officially voted to switch from his own Layer 1 blockchain to the Solana protocol.
On Wednesday, a majority voice of 81.41 % officially ratified the Helium Improvement Proposal (HIP 70), which aims to develop the network to meet the demand from the users. The participants had to stake the helium token (HNT) in order to be able to participate in the vote.
The Helium Foundation said that the change would make it possible to make more compatible with other projects and crypto applications in the areas of decentralized finances (defi), not fungible tokens and other web3 applications.
"" Solana has a proven track record in the support of some of the world's most important, decentralized initiatives, and they were a obvious choice for us to work with them, "said Scott Sigel, COO of the Helium Foundation, in A statement . "The move to the Solana blockchain enables us to concentrate our efforts on the scaling of the network instead of managing the blockchain itself."
The helium kernel development team made the suggestion called Hip 70 on August 31. They said the step would "bring significant scale effects through the large selection of composite Solana developer tools, functions and applications".
Helium had triggered controversy in the weeks before the proposal, some of which questioned the network potential. Prominent investors defended the startup and said that infrastructure was still building up and the income would come later.
The project signed a contract with T-Mobile this week to set up a subscription service for $ 5 per month, which uses both the decentralized hotspot network from Helium and the larger 5G network of the telecommunications gigant
hnt, one of the native tokens of the project, is still 90 % below his all -time high, which was recorded when crypto prices culminated last November, which correlated with the rest of the market for digital assets.
In any case, due to the impending migration of Helium, all current ecosystem tokens, including HNT, mobile and IoT, will soon be spent on Solana.As soon as the migration is complete, a new version of the Helium Wallet app will be available, the network said. The history of the previous blockchain will continue to be accessible to the public.
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The contribution "Helium token Holder's Approve Switch to Solana Blockchain" is not a financial advice.
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