Thread by @NFTomics

Project/Token Deep Dive @helium x @solana

Conclusion: Helium will be moving to Solana pending HIP 70. For those of you unfamiliar with #Helium or if you want to know why this matters for the #Solana ecosystem .. lets dive in to this @SpaceXStarlink / 5G competitor 🧵

1/10

Overview of the Project:

The Helium network is a decentralized wireless network that enables devices anywhere in the world to wirelessly connect to the Internet and geolocate themselves without the need for substantial energy consuming satellite location hardware.

2/10

This next gen of IoT tech positions #Helium as the provider of both the hardware & software required to build out a global infrastructure, coined as a people built network now built on Solana. The ultimate goals for Helium is to make wireless network coverage a commodity.

3/10

How @helium works:

The network is a wide-area wireless networking system & a protocol token. The blockchain runs on a consensus protocol, called the Helium Consensus Protocol (soon to be @solana), and a new kind of proof, called Proof-of-Coverage.

4/10

https://twitter.com/helium/status/1370115330891251721?s=20&t=jd-90qvr9F1RAeIt54FJkQ

The Miners who are providing wireless network coverage in a cryptographically verified physical location & time submit proofs to the Helium network. A consensus group receive encrypted transactions submitted by other Miners and forms them into blocks.

Currently IoT soon 5G

5/10

The core components of Helium are:

📱 Devices (Hotspots)

🗼Connectivity (WHIP, LoRaWAN - Long Range Wide Area Network)

⛓️ Previously a HNT Ledger (Blockchain) soon @solana

6/10

medium.com/helium-foundat…

1. Hotspots are physical network devices that provide wide area wireless coverage.

2. Devices exist in the form of hardware products that contain a WHIP-compatible radio transceiver and communicate with Hotspots on the Helium network.

3. The protocol is based on Proof of Coverage, and rewards miners in $HNT (soon to be $veHNT), the native token of the Helium blockchain.

4. Helium is also developing 5G devices in partnership with FreedomFi (who they just acquired)

7/10
coindesk.com/markets/2022/0…

Transition to Solana

Listen to this Space: twitter.com/i/spaces/1OyKA…

Read this thread:

https://twitter.com/rawrmaan/status/1564718174112727040?s=20&t=xh8iAVQtxktnZ_B2BYSvNw

Read this post:
coindesk.com/tech/2022/09/0…

8/10

Why it Matters to @Solana @aeyakovenko @rajgokal @amirhaleem

The HNT Network has grown incredibly quickly with close to 1 million Hotspots deployed around the world, with increasing data usage through an ever expanding list of use cases.

9/10

The @helium community will gain:

1. A thriving ecosystem of Solana Devs @FoxyDev42

2. Real-world NFT applications @FamousFoxFed @DeGodsNFT

3. B2B & B2C marketplaces @MagicEden

4. Lending & Borrowing @orca_so

5. @solanamobile (crypto-native mobile app stack).

10/10

This is a big deal - and we are likely to see the fruits of this partnership manifest in a tangible way.

Worlds collide: @Austin_Federa @shawnfanning @amirhaleem and investors @KyleSamani @a16z @FirstMarkCap

P.S @aeyakovenko applied to work at @helium before Solana small world.