A potential recent move that might be a catalyst to bring more eyes to Solana.
🧵The Helium Network is moving entirely to SOL 🧵
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Launched in July 2019, Helium is a distributed network of long-range wireless hotspots.
The goal is to create a blockchain powered network for Internet of Things (IoT) devices creating what they call “The People’s Network”.
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Nodes come in the form of so-called "Hotspots", which are a combination of a wireless gateway and a blockchain mining device.
Operate nodes , mine and earn rewards in Helium’s native crypto token, $HNT.
Ranked #66 in MCap
Curr Val -> 5.2$ (approx)
ATH Val -> 52.71$
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The Ease of mining HNT tokens made it very popular among it's peers.
Works on a Proof-of-Coverage (“PoC”) mechanism.
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HIP stands for "Helium Improvement Proposal".
Proposals submitted by members of the Helium community, addressing issues like tokenomics, blockchain functionality, and allocation of mining rewards.
'HIP 70' was a recent proposal by the Helium core developer team .
5/🧵
HIP 70 Proposes three major changes:
🔹 Moving Proof-of Coverage to Oracles.
🔹 Moving Data Transfer Accounting to Oracles.
🔹 Migrating the Helium Network, including its tokens, governance, and economics around HNT, DC, IOT, and MOBILE, onto the Solana blockchain.
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What are oracles ?
Oracles are entities that connect blockchains to external systems.
Enabling smart contracts to execute based upon inputs and outputs from existing real-world servers or devices.
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Helium community will gain :
✴️A developer ecosystem with thousands of devs worldwide who are working on apps that are only possible on SOL due to its fast & cheap transactions.
✴️Real-world NFT applications
✴️B2B and B2C marketplaces
✴️lending/borrowing
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Solana offers significant benefits to Helium that include, but are not limited to, scale, community, and composability.
The consensus among the core developers and The Helium Foundation was that Solana was the best blockchain to accommodate needs of the HNT Network .
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This obviously brings a lot exposure to SOL.
Further more networks/chains will move into solana , if this move proves to be successful.
The future does seem bright.
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