Helium Network sets migration to Solana for March
Helium Network’s communications protocol has set March 27 as the date for moving to the Solana blockchain and deploying oracles as it seeks to improve scalability and reliability.
According to According to a blog post on February 17, the transition will occur within 24 hours on March 27, during which time the current Helium blockchain will be stopped. Verification of coverage and transfer of data will remain in effect. A working group of public volunteers is being formed to monitor the migration process. The Helium team stated:
“This update will cover all wallets, hotspots, and the state of the Helium network and will take place during a 24-hour transition period starting at approximately 15:00 UTC / 10:00 ET.”
The Helium network is officially transitioning to @solana March 27! You are ready?
Make sure you switch to the Helium Wallet app for a smooth transition. Keep hotspots active and connected to the network to receive IOT tokens.
More in this topic https://t.co/rzk2xcBEJ0
— Helium (@helium) February 17, 2023
After the chain is stopped, validators will stop creating blocks and transactions will not be synchronized. According to the team, the final snapshot of the blockchain will be taken once all accounts and tokens have been migrated to the Solana blockchain, and the hotspots will be minted as non-fungible tokens (NFTs).
“Please note that any Proof-of-Coverage rewards generated in the previous 24 hours will be available for redemption in your Helium Wallet after a transitional period. Oracles will update the available balance and hotspot owners will be able to use the new claims feature.”
HNT and MOBILE token holders do not need to take any action to participate in the upgrade. The same is true for most hotspot owners, although large fleet owners may want to test certain claim features or develop their own wallet solutions.
The transition to Solana was made possible by the fact that on September 22 the community passed HIP-70, with over 80% voting for it. At the time, the developers emphasized that the benefits of the migration would include more native token available for subDAO reward pools, improved mining, and more reliable data transfer and ecosystem support.
Also in September last year, Nova Labs, the creator of Helium, announced an agreement with US telecoms provider T-Mobile to launch a cryptocurrency-based mobile service that allows subscribers to earn cryptocurrency rewards for sharing coverage quality data and helping to identify Helium’s the whole country.
Credit : cointelegraph.com