SOL

What You Need to Know About Helium’s Upcoming Migration to Solana

by BSC News

December 23, 2022

The Helium Foundation broke down key points from a Solana Transition AMA in a Twitter thread, including about governance protocols and staking.

Twitter Thread Summarizes Transition AMA

The upcoming migration of the Helium ecosystem to the Solana blockchain obviously has fundamental implications for the Internet of Things (IoT) telecom platform and community.

The Helium Foundation broke down key points from a recent Transition AMA in a Twitter thread.

How @Helium token holders propose changes and make decisions for the network—will be getting a behind-the-scenes upgrade when @Helium migrates onto @Solana, ~Q1 2023.

The Transition AMA last week covered governance, wallets, veHNT, and more. Recap below.🧵👇
— Helium Foundation (@HeliumFndn) December 22, 2022

The AMA covered a range of topics relevant to the transition, including the status of development, governance protocols, and migration of tokens and Hotspots.

The next Solana Transition AMA is set for January.

What Is Helium Network:

According to CoinMarketCap, Helium (HNT) is a decentralized blockchain-powered network for the Internet of Things (IoT) devices. Launched in July 2019, the Helium mainnet allows low-powered wireless devices to communicate with each other and send data across its network of nodes. Nodes come in the form of so-called Hotspots, a combination of a wireless gateway and a blockchain mining device. Users who operate nodes thus mine and earn rewards in Helium’s native cryptocurrency token, HNT. Helium aims to prepare IoT communication for the future, identifying inadequacies in current infrastructure from its birth in 2013.