Helium Drops Its Own Blockchain to Solana
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- Once the transfer is complete, a new version of the Helium Wallet App will be released.
- Holders of HNT tokens can also use other wallets in the Solana ecosystem.
Members of the Helium community voted to move the decentralized Wi-Fi network from its blockchain, officially known as HIP 70, to the Solana blockchain. By investing over HNT 12 million, 6,177 community members voted for the move.
Helium’s developers suggested moving to Solana to scale the protocol with more efficient transactions and interoperability. All credentials, applications and administration will be moved online.
After the transfer, the HNT, MOBILE and IOT tokens will be assigned to the Solana network and will continue to be used in the Helium ecosystem. Once the transfer is complete, a new version of the Helium Wallet App will be released. In addition, the history of the Helium layer 1 blockchain will be announced. Users can access the new app by updating their current wallet app. HNT racks can also use Solana ecosystem wallets.
A milestone of 100 billion transactions in two years
Solana reached a milestone on September 22nd when the number of Solana-based transactions reached one billion since its launch in 2020. Although the network is experiencing issues with blockchain speed, transactions on the platform do not seem to be affected. The network’s milestone validates its website’s claim of fast, forever.
Although the network has performed commendably, it has encountered several problems. These include frequent network outages, which are often inconvenient. In August, the Solana network was also exposed to network exploitation, which affected several wallets. The network is gaining popularity and acceptance due to its speed and lower transaction costs.
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