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Blockchain

5G Wireless Network Helium Proposes Migration to Solana Blockchain

Decentralized peer-to-peer (P2P) 5G wi-fi community Helium is proposing to migrate its personal community, formally referred to as HIP 70, to Solana looking for extra environment friendly operations.

Founded in 2013, Helium community is the world’s first peer-to-peer LoRaWAN wi-fi Internet of Things, also referred to as “People’s Network”.

Helium is altering the best way we join and lengthen the world’s wi-fi networks. Helium’s ever-expanding community of hotspots permits anybody to personal and function a wi-fi community for low-power Internet of Things (IoT) units, whereas prospects can earn by establishing and collaborating within the community utilizing a cryptographic token known as HNT award.

The Helium Foundation says it addresses present person wants by transferring to the Solana blockchain to obtain sooner transaction speeds, longer uptime and extra interoperability with different blockchains.

Helium builders mentioned that:

“Solana is a layer 1 blockchain that focuses on the importance of scalability and speed and the network does not compromise on security or scalability.”

Community voting on this proposal started on September 12 and ended on September 18.

As of now, the community has greater than 1 million “hotspots” working on the Helium community, most of that are concentrated within the US, Europe and China.

The addition of huge establishments comparable to Andreessen Horowitz additionally confirms the longer term prospects of the community.

On September 2, in accordance to Coinmarketcap information, the HNT token misplaced 1.09% up to now 24 hours, with a market cap of $613,196,579. As of this writing, HNT is buying and selling at $4.89.

In February, Helium raised $200 million in a Series D funding spherical led by Tiger Global and FTX Ventures at a $1.2 billion valuation.

Image supply: Shutterstock

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