Helium developers consider migrating Crypto Wireless Network to Solana – Decrypt | Jewelry Dukan

Shortly

  • Crypto-powered wireless network Helium is considering a move from its own custom blockchain to Solana.
  • Helium’s core developers have proposed the migration, which will be voted on on September 12th.

heliumthe blockchain platform, which uses crypto token incentives to power decentralized wireless networks, could soon see a significant change if a newly uncovered proposal is accepted: it could switch from its own blockchain Solana.

Released today HIP 70 proposal explains why Helium’s core developers want to move the network from their own bespoke chain to Solana, a leading smart contract platform used for decentralized applications (dapps), NFTsand decentralized funding (DeFi) protocols. In short, the developers believe it will improve Helium’s speed, stability, and ability to serve more users.

“Solana brings significant benefits to Helium, including scalability, community, and composability, among others.” reads a blog post from the Helium Foundation. “This change will be significant in scope, impact and benefit to the Helium network and its users.”

According to the proposal, the helium network would Move all of his tokens—HNT, IOT, MOBILE and DC (Data Credits) — from proprietary blockchain to Solana. You would count on that oracleor third-party data sources not residing on the blockchain to manage Helium’s proof-of-coverage infrastructure and data transfer accounting functionality.

“The Helium community will attract a thriving developer ecosystem of thousands of developers worldwide working on applications that are only possible on Solana due to fast and cheap transactions,” reads the proposal.

Helium is a distributed wireless network that offers users crypto tokens as a reward for sharing their home internet service with a larger community. For example, a user can run a helium node (or hotspot) connected to their modem or router, and then earn crypto tokens by securing the network and allowing nearby devices to share their connection.

The platform first started with a network designed for Internet of Things (IoT) devices like trackers and sensors and has so far caught on more than 935,000 active node operators, according to current data. Recently helium launched a 5G network designed for phones, tablets and other devices that currently have around 3,300 nodes online.

The Helium Foundation and Nova Labs– a startup made up of the network’s founders and some core developers – recently announced plans to do so Take a “network of networks” approach and expand beyond the original HNT reward token. With IOT, MOBILE and other future tokens, Helium aims to integrate a wider range of decentralized wireless protocols.

In the post announcing the Solana migration proposal, the developers at Helium said that when the network was first launched, there were few Layer 1 blockchain platforms and it made the most sense to build your own. But as the network has grown, they believe it makes sense to leverage an open-source platform like Solana, which is built to handle large numbers of transactions.

“With the tremendous maturity that Helium has experienced, so has the blockchain and crypto ecosystem,” the post reads. “There are now a variety of L1 options to build on. Rather than investing time and effort into improving Helium’s L1, it became clear that the helium community could benefit from the developments and shared resources of the larger industry.”

Even after the proposal, after moving to Solana, a larger share of HNT reward tokens will flow to node operators or miners, with a 6.85% increase over the current model. The proposal claims that the redistribution will bring more than 2 million additional HNT to miners in the first year, or more than $11.1 million at current prices.

The Helium Foundation will hold a token-based community vote on the proposal from September 12th to September 18th. No timeline has been announced for the planned migration should the proposal go through.

Helium recently attracted controversy when two alleged brand partners — cloud software giant Salesforce and ride-sharing scooter startup Lime — claimed so not connected to the crypto wireless network.

A representative from Nova Labs said decrypt that Helium would introduce a “more rigorous” process for determining official partnerships. Helium co-founder Amir Haleem tweeted at the time that the network’s developers had “verbal approvals” from the companies disputing the partnerships, but that it would introduce a more formal approach to securing marketing approvals.

Editor’s Note: This article has been updated to clarify the benefits of redistribution to miners.

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