Helium migrates to Solana
Decentralized wireless communication network Helium announced today that it plans to fully migrate to the Solana (SOL) blockchain starting March 27.
Helium is a project that aims to provide wireless 5G connectivity around the world. In August 2021, it raised $111 million (more than ¥12 billion) in a token-based investment round led by major US venture capital firm a16z.
connection: Helium aiming for decentralized 5G, raised over 12 billion yen from a16z, etc.
Users who operate hotspots and provide area coverage will be rewarded with native tokens (HNT, IOT, MOBILE). It is a distributed LoRaWAN (a type of wireless communication technology for IoT) network operated in 986,000 hotspots in 77,000 cities.
In September 2010, Helium developer Nova Labs signed a five-year contract with T-Mobile, a major US telecommunications carrier, to acquire 5G coverage throughout the United States. Announced a plan to start a mobile service using crypto assets (virtual currency).
“Helium Mobile” is scheduled to be launched as an MVNO (mobile virtual network operator) service in the first quarter (January-March) of 2023. A basic plan is available for $5 a month (672 yen) and lets you choose between T-Mobile’s 5G network and Helium’s decentralized network.
Helium resources to be migrated include wallets, hotspots and Helium Network state. Various tokens (HNT, IOT, MOBILE) will be issued on the Solana blockchain and will continue as native tokens of the Helium ecosystem.
Migration procedure to Solana
The transition to Solana will begin at 00:00 (Japan time) on March 28, and users will be able to use Helium applications on Solana within 24 hours. Hotspot holders and token holders don’t have to do anything about the upgrade.
Existing users will be able to complete the correspondence by updating their wallets and will be able to use new wallets in the Solana ecosystem, such as Phantom and Solflare. Note that the upgrade may be postponed if critical bugs are found during migration.
The plan to transition to Solana had been approved by Helium’s community vote in September 2022 with approximately 81% of the votes in favor. According to the market data site CoinMarketCap, Helium’s HNT token has risen 9% from the previous day and is ranked 95th in the market with a market capitalization of 60 billion yen (at the time of writing).
So far, developer Solana Lab has stepped up its mobile development. In June 2010, the smartphone “Saga” compatible with the Solana blockchain was announced. At the same time, it established the mobile dApps development kit “Solana Mobile Stack” and a subsidiary “Solana Mobile” that provides a dApps store.
connection: Solana Lab Leads Series A of Web3 Smartphone Developer OSOM
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