Helium developers offer to ditch their own blockchain for Solana
The transition to Solana would improve network scalability, which in turn would bring "significant economies of scale" to the network, according to Helium Core Developers.
New
The Helium Internet of Things (IoT) blockchain network may transition to the Solana blockchain following a new HIP 70 governance proposal launched on Tuesday.
Helium's core developers said it needed to "improve operational efficiency and scalability" in order to bring "significant economies of scale" to the network.
The Helium network works through users installing 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 as Helium developers have highlighted the need to address a number of technical issues in order to improve network capabilities:
“Over the past few months for the network, both have been challenging for network participants with significantly reduced proof of coverage activity due to network size and blockchain/validator load, and package delivery issues."
The HIP 70 proposal was put forward to improve these data transfer and network coverage capabilities, according to the Helium GitHub page.
If adopted, helium-based HNT, IOT and MOBILE tokens and data credits (DC) would also be transferred to the Solana blockchain.
Network HNT is earned by AP providers, IOT is earned by node operators who provide LoRaWAN network, MOBILE is earned when 5G coverage is provided and DCs are used to pay transaction fees.
Helium developers proposed HIP 70, which would move the PoC and data transfer account to Oracles. This simplifies Helium's blockchain needs, improving scalability, speed, and reliability. This also allows for more miner rewards and a move to Solana. https://t.co/ZFSWmwYn8f pic.twitter.com/ztnahzGAet
— Helium Foundation (@HeliumFndn)
The transition to Solana would improve network scalability, which in turn would bring "significant economies of scale" to the network, according to Helium Core Developers.
New
The Helium Internet of Things (IoT) blockchain network may transition to the Solana blockchain following a new HIP 70 governance proposal launched on Tuesday.
Helium's core developers said it needed to "improve operational efficiency and scalability" in order to bring "significant economies of scale" to the network.
The Helium network works through users installing 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 as Helium developers have highlighted the need to address a number of technical issues in order to improve network capabilities:
“Over the past few months for the network, both have been challenging for network participants with significantly reduced proof of coverage activity due to network size and blockchain/validator load, and package delivery issues."
The HIP 70 proposal was put forward to improve these data transfer and network coverage capabilities, according to the Helium GitHub page.
If adopted, helium-based HNT, IOT and MOBILE tokens and data credits (DC) would also be transferred to the Solana blockchain.
Network HNT is earned by AP providers, IOT is earned by node operators who provide LoRaWAN network, MOBILE is earned when 5G coverage is provided and DCs are used to pay transaction fees.
Helium developers proposed HIP 70, which would move the PoC and data transfer account to Oracles. This simplifies Helium's blockchain needs, improving scalability, speed, and reliability. This also allows for more miner rewards and a move to Solana. https://t.co/ZFSWmwYn8f pic.twitter.com/ztnahzGAet
— Helium Foundation (@HeliumFndn)What's Your Reaction?
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