The Internet of Things project Helium is abandoning its blockchain to migrate to Solana. With this migration, the project aims for better stability and scalability.

Yesterday, Helium initiated the migration to Solana at 16:00UTC. According to the official announcement, the migration is estimated to complete in 24 hours.

Helium’s native blockchain has been halted after taking a snapshot. The developers will map the existing Helium tokens (HNT) and MOBILE to the Solana blockchain. Hence, tokens native to Helium blockchain will become Solana-native tokens after the migration.

The Purpose of Helium’s Migration to Solana

Helium’s official blog reads, “The migration will generally make the Helium Network faster, cheaper, and significantly more stable.” Furthermore, the IoT platform wants to utilize the developer ecosystem of Solana.

However, the community has criticized migration in the context of stability. A Twitter user questions, “Stable? How many times has Solana gone down?”

Solana has earned a bad reputation due to frequent outages. The most recent outage happened in November last year. The crypto community severely criticized the project, as the downtime became almost a monthly affair in 2022.

Even this year, Solana faced a technical issue in February that prevented users from completing transactions on the mainnet.

Exchanges’ Support for Migration

Centralized exchanges such as KuCoin, OKX, Crypto.com, Gate.io, and Bybit will continue supporting HNT post-migration.

In contrast, after a periodic review, Binance delisted the HNT token last month. The delisting announcement caused the token’s price to plummet by around 18% in 24 hours.

In September 2022, The Helium Improvement Proposal 70 (HIP-70) that discussed migrating to Solana received 81.41% of votes in favor. Out of 7,447 votes, 6,177 supported the migration, while 1,270 were against it.

#hnt #crypto2023 #Binance #crypto #blockchain

The Helium (HNT) Network has officially completed its migration to the Solana (SOL) blockchain, marking a significant upgrade for the project's scalability and reliability. According to the CEO of the Helium Foundation, Abhay Kumar,

"Migrating the Helium Network to Solana offers significantly more utility for the network, including faster transaction speeds and new smart contract capabilities. And now that core developers will no longer have to maintain a layer-1 blockchain, the Helium Foundation and other contributing organizations can direct more resources towards our shared goals of accelerating the growth of decentralized wireless networks and bringing new applications that create economic efficiencies and close the digital divide."

blog.helium.com

Helium focuses on building a network for the Internet of Things (IoT) powered by physical hotspots. The HNT token rewards participants for validating coverage and providing wireless hotspots. HNT is currently trading at $1.78, representing an 11% surge over the past seven days. On the other hand, SOL is trading at $21.96, down 5% over the past 24 hours and more than 11.5% over the past week.

The migration of Helium to Solana is expected to bring faster and more efficient transactions, benefiting both Helium and Solana in the future. With this significant milestone achieved, Helium is set to continue its focus on expanding its network and bringing new applications that enhance economic efficiencies and close the digital divide.

#hnt #helium #crypto2023 #dyor #CDD

Source: dailyhodl

image Source:

If you enjoy our content and want to show your support, please like, share, and follow us for more high-quality updates.

Disclaimer

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Web3.0 protocol Helium Network (HNT) has announced its successful migration to the Solana (SOL) blockchain. The announcement was shared via the protocol's official Twitter account and highlights the strong desire to switch to a relatively more scalable outfit to help achieve its overall end goal.

Helium is branded as a decentralized blockchain-powered network for Internet of Things (IoT) devices. Helium's migration to Solana was planned for several months with collaborations from both the Helium and Solana teams, respectively.

"Helium's core developers are thrilled to announce the completion of the upgrade from the Helium blockchain to Solana. This upgrade establishes a new era of scalability, expansion, and reliability for the world’s largest decentralized wireless network," the announcement reads.

The Helium Network migration to @solana is complete! 🎉 🎈 This is an incredible milestone for the global Helium community and ushers in a new era for a highly scalable and resilient Helium Network along with a new world of utility on Solana.https://t.co/Ip8bVmKeLJ pic.twitter.com/SR5eMbchsS

— Helium🎈 (@helium) April 19, 2023

According to the Helium protocol, migration to Solana will offer additional utilities for the ecosystem, and this will be embodied by faster transaction times and lower costs. As one of the top Ethereum killers around today, the smart contract functionalities of Solana will also be well harnessed by innovators within the Helium Network.

The innovation that can follow the migration of Helium to Solana knows no bounds, and both teams are ready for the next stage in each protocol's evolution.

Off to good start

According to an update on the migration from the Solana Foundation, as many as one million hotspots have been connected to the Helium Network since inception, and based on the bandwidth of the Solana ecosystem, they are bound to see additional use cases that encompass the worlds of decentralized finance (DeFi) and non-fungible tokens (NFT).

One good headstart Solana is giving Helium users is the minting of connected hotspots as NFTs, a feature that guarantees additional recordkeeping that would otherwise be highly cost prohibitive on competing blockchains.

With the migration, Helium is now part of an ecosystem of thriving innovators that can generally help it return value to its community in the long term.

#helium #solana #Binance #hnt #Binance

- Price: $5.30
- Market Cap: $852,940,333
- 1 Month Performance: -16.07%
- 1 Year Performance: 195.03%
- All-Time High: $56.21
Helium (HNT) is a decentralized blockchain network that aims to revolutionize wireless telecommunications infrastructure globally. At its core, Helium operates as a decentralized wireless network where individuals can deploy and operate wireless hotspots to provide coverage and connectivity for Internet of Things (IoT) devices. The network utilizes a unique consensus algorithm known as Proof of Coverage (PoC), which incentivizes hotspot owners to offer reliable coverage. Hotspot owners earn HNT tokens by validating wireless coverage in their respective areas, thus ensuring the reliability and expansion of the network. Helium's vision is to create a global loT connectivity network, enabling seamless communication between IoT devices across various industries and use cases. By leveraging LongFi technology, which combines the benefits of long-range and low-power wireless communication, Helium facilitates efficient and cost-effective connectivity solutions. The HNT token serves as the native cryptocurrency used for rewarding hotspot operators, facilitating transactions on the network, and incentivizing network expansion. Through the HNT token, participants are incentivized to contribute to the growth and reliability of the Helium network, thus creating a self-sustaining ecosystem. Helium's decentralized approach to wireless networking offers several advantages, including increased scalability, improved coverage, and reduced infrastructure costs. By empowering individuals to participate in the network as hotspot operators, Helium fosters community-driven growth and democratizes access to wireless connectivity.
#HNT #hnt #BTC #fomc #Metaverse

Dogwifhat, Helium, Core, and Pepe have emerged as the top gainers in the crypto market over the past week. Each token experienced a price surge exceeding 40%.
Dogwifhat
Dogwifhat 
WIF7.13%dogwifhat is up over 50% for the past seven days, exchanging hands at $2.56 at the time of writing.
The crypto assets had a daily trading volume of $311 million, while its market cap had surpassed the 2.55 billion mark per data from CoinMarketCap

WIF price chart | Source: CoinMarketCap
Despite lacking any clear utility, WIF — the dog-themed meme coin based on Solana — has become one of 2024’s top-performing meme coins.
Its website humorously notes that it is “literally just a dog wif a hat.”
The WIF token has outperformed other well-known meme coins like Shiba Inu and Pepe Coin in terms of price gains. In March, supporters swiftly funded a campaign to project the Dogwifhat image onto the Las Vegas Sphere, surpassing their fundraising target within days.
Helium
Helium 
HNT-2.75%Helium, a blockchain network aimed at the Internet of Things (IoT), surged by 47.8% over the past week and is now trading at $4.70.
With a market cap of about $756 million, Helium ranks 92nd in global cryptocurrency rankings by market cap, as reported by CoinMarketCap, and has a trading volume of approximately $8.6 million.

HNT price chart | Source: CoinMarketCap
Helium is a pioneering blockchain network designed to enable wireless communication for IoT devices globally.
Created by Helium Inc., which was established in 2013, this network offers a decentralized, cost-effective, and scalable connectivity solution.
Rather than depending on centralized infrastructure like traditional telecom services, Helium’s unique approach allows individuals to become network hosts by running Hotspots—specialized hardware devices that offer coverage and transmit data for IoT devices.
In exchange for their participation, hosts receive Helium tokens (HNT), thereby encouraging the expansion and density of the network.
Core
Core 
CORE-0.54%Core saw a 47% increase over the past seven days. According to price data from crypto.news, CORE is currently priced at $1.64, with a 62.9% rise in daily trading volume to around $115 million.

CORE price chart | Source: TradingView
Currently, CORE’s market capitalization is valued at $1.47 billion. Despite the recent upswing, the token’s price is still 75% lower than its all-time high of $6.47, recorded on Feb. 8.
Core operates as a decentralized digital payment system on its dedicated blockchain network. It employs a proof-of-work protocol to validate transactions and to mine new coins. The cryptocurrency is designed with a focus on privacy, supporting anonymous transactions through sophisticated cryptographic methods.
As an open-source project, Core’s development is supported by a worldwide community of volunteer developers.
This digital asset is used for direct peer-to-peer transactions, is stored in crypto wallets, and is available for trading across various digital asset exchanges.
You might also like:SOL, ZK, BRETT: Top cryptocurrencies to watch this week
Pepe
 
PEPE0.55%Pepe rose 40% over the past day, trading at $0.000012 at press time. Its daily trading volume hovers at around $614 million over the last 24 hours.
The PEPE market cap stands at $5.16 billion, ranking it as the 22nd largest cryptocurrency.

PEPE price chart | Source: TradingView
Pepe, an Ethereum-based token that debuted on April 15, draws inspiration from the popular meme culture. It aims to capitalize on the meme coin trend, leveraging the widespread recognition of its amphibian mascot. This approach has resonated well with traders and investors, elevating the token’s profile in the cryptocurrency market.
Designed as a deflationary token with no tax implications for transactions, Pepe seeks to carve out a significant position among established meme coins like Shiba Inu and Dogecoin. The token’s association with the well-known “Pepe the Frog” meme is central to its strategy to attract a broader user base.
Bitcoin climbs 12% in strong recovery
The overall surge in these altcoins followed Bitcoin’s (BTC) 12% rise over the past week, reaching $67,180 on Sunday. Bitcoin’s 24-hour lows and highs were $66,640 and $67,567, respectively.
Yesterday, the world’s largest cryptocurrency attempted to breach the $68,000 mark but faced resistance, leading to a premature halt in the rally by bearish traders.
Despite this setback, BTC’s strong performance over the week has positively influenced the broader cryptocurrency market sentiment. The sentiment has shifted from Fear to Greed, with the Greed index rising sharply to 74, a significant increase from last week’s score of 33.
Meanwhile, the global cryptocurrency market cap also witnessed a 1.42% increase over the last day, elevating to a total of $2.43 trillion.

#pepe #wif #core #hnt #btc