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Helium (HNT) Is Officially Migrating to Solana (SOL) Blockchain After Community Vote

Helium (HNT) Is Officially Migrating to Solana (SOL) Blockchain After Community Vote

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Decentralized wireless network Helium (HNT) will officially migrate to the Solana (SOL) blockchain after a community vote confirmed the decision.

The Helium Foundation announced Thursday that its community approved the change with an 81.41 percent majority of Helium Improvement Proposal (HIP) 70.

says Scott Sigel, Chief Operating Officer of the Helium Foundation,

“We have an ambitious mission to deploy and manage wireless networks at scale, and moving to Solana allows us to do that. Solana has a proven track record of supporting some of the world’s most important decentralized initiatives, and they were an obvious choice for us to partner with. Moving to the Solana blockchain allows us to focus our efforts to scale the network instead of managing the blockchain itself.

The Helium Foundation first announced its intention to move the ecosystem to Solana in late August, when HNT was trading around $6.00. The following week, the token fell to a low of $3.33.

HNT has since partially recovered and is trading at $4.67 at the time of writing. The 71st-ranked crypto asset by market capitalization has risen nearly 5% in the past 24 hours.

Solana’s original asset SOL is trading at $32.56 at the time of writing. The 9th-ranked crypto-asset by market capitalization has risen more than 5.6% in the last day.

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Featured image: Shutterstock/Pattern Trends/WindAwake



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