Helium Foundation has announced that it is moving to the Solana blockchain. The company has made the decision following its partnership with T-Mobile.
Community Vote in Favour of Solana Blockchain
It was on Thursday when the officials at Helium Foundation announced that they were moving to a different blockchain. The particular blockchain is Solana and it is following the community vote they had recently carried out.
Following their move, they will also move major mechanisms to the Solana blockchain. These changes and transitions were proposed by the Helium Foundation to the community.
The teams had added in the proposal that they would move their mechanisms to Helium Oracles. These mechanisms include the Data transfer mechanism and the proof-of-coverage mechanism.
Helium Tokens to Migrate to Solana
Helium Foundation has confirmed that they will move the entire protocol to the Solana blockchain. They will proceed with moving the Helium tokens to the Solana blockchain as well.
Even the governance of the Helium Foundation will be moved to the Solana blockchain.
Benefits Laid Out by the Developers
The developers of the protocol laid out the benefits and advantages the users will be able to avail of following Helium Foundation’s migration.
They have confirmed that the move would include the increased number of reward pools for subDAO. These particular reward pools are backed and supported through HNT, the native tokens on the Helium Foundation.
Additionally, the transfer of data would become more reliable plus the mining activities that will be increased tremendously.
The utility of the subDAO plus the HNT tokens would rise significantly, bringing more adoption to the Helium and Solana ecosystem.
Information about Helium
Helium is a protocol that helps provide wireless communications based on blockchain technology. The possible reason behind Helium’s move to the Solana blockchain is Nova Labs’ deal with T-Mobile.
Nova Labs, which is the creator of Helium has reportedly formed and signed a deal with T-Mobile, an American telecommunication service provider.
Following their partnership, Helium Foundation announced that it will be launching Helium Mobile. Helium Mobile is to operate as a mobile service powered by cryptocurrency technology.
The T-Mobile users will be able to earn rewards in cryptocurrencies using the Helium Mobile service. The Helium Mobile service will be introduced as a plan for T-Mobile users.
By sharing coverage quality, the users will be able to earn rewards based on cryptocurrencies.
The users will be required to have a 5G capable device in order to acquire the particular plan. At the time of writing, the trading price of HNT is $4.51 and has experienced a 0.45% in the past 24 hours.
As the platform moves to the Solana blockchain, its value may experience a significant push.