The communications protocol Helium Network has selected March 27 as the date for its move to the Solana blockchain and oracle deployment in an effort to increase scalability and dependability.
According to a blog post published on February 17, the transfer will occur on March 27 over the course of 24 hours, during which the present Helium blockchain will be deactivated. Neither Proof-of-Coverage nor data transfer operations will be impacted. To manage the relocation process, a working group of community volunteers is forming. The Helium team announced:
“This update will affect all wallets, Hotspots, and the status of the Helium Network, and will begin at roughly 15:00 UTC / 10:00 AM ET after a 24-hour transition period.”
Following the chain stop, validators will no longer produce blocks, and transactions will no longer synchronise.
“Remember that any prizes obtained by Proof-of-Coverage activities over the previous 24 hours will be accessible in your Helium Wallet after the transition period. Oracles will update claimable balances, and Hotspot Owners may utilise the new claim function.
To participate in the update, HNT and MOBILE token holders are not required to do any action. The same holds true for the majority of hotspot owners; however, big fleet owners may be able to test specialised claim capabilities or design bespoke wallet solutions.
The relocation to Solana was made possible by the community’s passage of HIP-70 on September 22, with more than 80 percent of the vote in favour. At the time, developers noted the migration’s advantages, which would include an increase in the number of native tokens available for subDAO reward pools, enhanced mining, and more dependable data transmission and ecosystem support.
Also in September, Nova Labs, the creator of Helium, announced an agreement with American telecommunications provider T-Mobile to launch a crypto-powered mobile service that allows subscribers to earn crypto rewards for sharing data about coverage quality and helping to identify Helium dead-spot locations across the country.
Also Read: Stablegains Was Sued For Marketing UST As A “Secure” Investment
Wallets