- The HIP 70 proposal for the move to Solana’s blockchain aims to improve data transfer and network coverage capacity.
- Helium community members also supported the proposal by voting for the HIP 70 proposal which will begin on September 12.
Helium, the Internet of Things (IoT) blockchain network could switch to the Solana blockchain after the launch of the new HIP 70 governance proposal on Tuesday 30 August.
This comes when the Helium developers proposed to improve operational efficiency along with scalability. They said this was essential to bring significant economies of scale to the Helium network. Currently, to manage the Helium network, users install a Helium hotspot to provide decentralized 5G wireless network coverage to their internet users.
Helium developers have proposed HIP 70, which would move PoC and Data Transfer Account to Oracles. This simplifies the needs of the Helium blockchain, improving scalability, speed and reliability. It also allows for more rewards for miners and a transfer to Solana. 👀 https://t.co/ZFSWmwYn8f pic.twitter.com/ztnahzGAet
– Helium Foundation🎈 (@HeliumFndn) August 30, 2022
Helium uses the Proof-of-Coverage consensus mechanism to verify network connectivity and distribute HNT tokens to Helium hotspot providers. Helium developers stressed the need to solve a number of technical problems to improve the network’s capabilities. The developers noted:
In the last few months of the network, both have been challenging for network participants with very small Proof-of-Coverage activities due to the size of the network and blockchain / validator load and packet delivery issues.
According to Helium’s GitHub page, the HIP 70 proposal seeks to improve these data transfers and network coverage capabilities. If the proposal gets a collective vote, all helium-based tokens such as HNT, IOT and MOBILE tokens and Data Credits (DC) will also move to the Solana blockchain.
Community members give the thumbs up
Helium community members have responded positively to the HIP 70 proposal. They also believe that integration with the Solana blockchain would also benefit developers to a great extent. Jose Marcelino, one of the contributors to Helium She said:
Fantastic news from the most incredible network on the planet. Helium and Solana have communities and teams that work hard and tirelessly behind them from all backgrounds. We are builders and we are not afraid of change. The combination is simply mind blowing.
Ryan Bethencourt, partner of Layer One Ventures, supporter of Web3, also called “huge” the HIP 70 proposal for Helium and Solana. Voting for the HIP 70 proposal will begin on September 12 and will be available to HNT token holders on heliumvote.com. Furthermore, the voting will end on 18 September.
Information on the helium network
The Helium network started its business in 2013 on its native blockchain. For them, Ethereum was too slow and other alternatives were not available at the time. As a result, Helium had no choice but to build its own blockchain network.
Over the past decade, Helium has implemented over one million Helium hotspots around the world supported by giants like Google Ventures. However, Helium faced a number of criticisms during her journey. Entrepreneur Liron Shapira recently criticized Helium Network for the lack of demand from end users.
This was following the news that the Helium network only generated $ 6,500 per month from data usage revenue. This is rather miniscule revenue compared to the $ 350 million raised by the platform. Recently, the Helium network also faced a four-hour outage. This affected the ability of HNT token holders to trade their tokens and prevent Helium hotspot miners from receiving rewards.
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