Helium developers offer to ditch their blockchain for Solana

Switching to Solana would improve network scalability, which in turn would bring “significant economies of scale” to the network, according to Helium’s lead developers.

The Helium Internet of Things (IoT) blockchain network could switch to the Solana blockchain following a new HIP 70 governance proposal launched on August 30.

Helium’s lead developers said the need to “improve operational efficiency and scalability” was necessary to bring “significant economies of scale” to the network.

The Helium network works when users install a Helium hotspot to provide decentralized 5G wireless network coverage to internet users in their area. Helium uses a unique consensus mechanism: Proof of coverage to verify network connectivity and distribute HNT tokens to Helium AP providers when coverage is verified.

The proposal comes when Helium developers highlighted the need to address a number of technical issues in order to improve the network’s capabilities:

In recent months for the network, both have been challenging for network participants with significantly reduced coverage test activities due to network size and blockchain / validator load and packet delivery issues.

The HIP 70 proposal was put forward to improve these data transfer capabilities and network coverage, according to the Helium GitHub page.

If adopted, HNT, IOT and MOBILE tokens and helium-based data credits (DCs) would also be transferred to the Solana blockchain.

Network HNT tokens are earned by AP providers, IOT tokens are earned by node operators providing the LoRaWAN network, MOBILE tokens are earned when 5G coverage is provided, and domain controllers are used to pay transaction fees.

Since its creation in 2013, the Helium network runs on its own blockchain. “The Hotspot” podcast host Arman Dezfuli-Arjomandi claimed in multiple posts on Twitter that “Ethereum was too slow” and “other alternatives [at the time] they weren’t very attractive.

Helium needed to build its own Blockchain when the protocol started because “there was no blockchain that it could have been built on that existed at that time.

But despite nearly a million Helium hotspots distributed around the world and supported by Google Ventures, the network is not without its critics.

Last month, entrepreneur Liron Shapira criticized the network for its “complete lack of demand from end users” following news that the network was generating only $ 6,500 a month from data usage revenue, despite having raised over $ 350 million.

The Helium network also suffered a four-hour outage, which impacted the ability of HNT token holders to redeem their tokens and prevented Helium Hotspot miners from receiving rewards.

The community reacts positively

Many members of the Helium community responded to HIP 70 with a positive sentiment, believing that integrating into Solana will bring tremendous benefits to developers.

Ryan Bethencourt, partner of the Web3 Layer One Ventures funder, told his 16,000 Twitter followers that the proposal is “huge” for Helium and Solana if the recommendation is approved.

Another Twitter user called the combination “simply breathtaking”.

The HIP 70 vote is scheduled for September 12 and will be made available to HNT token holders on heliumvote.com. The voting will end on 18 September.

The news does not appear to have had a positive impact on the price of the HNT token which is currently priced at $ 5.23, down 15.5% in the past 48 hours.

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