2 - 4 minute read
The Helium Network has recently completed its migration to the Solana blockchain, a move that is expected to improve the project’s scalability and reliability. The Helium Foundation’s CEO, Abhay Kumar, expressed his excitement over the upgrade, highlighting the benefits it brings to the network, including faster transaction speeds and new smart contract capabilities.
Helium is focused on building a network for the internet of things (IoT) powered by physical hotspots. The network enables IoT devices connected to it to communicate and share data. HNT, the native token of Helium, is used to reward participants for validating coverage and providing wireless hotspots.
The upgrade to the Solana blockchain is a significant milestone for the Helium Network. It provides greater utility to the network, allowing it to handle more transactions and enabling the development of new smart contract capabilities. Furthermore, with the migration, the Helium Foundation and other contributing organizations can now direct more resources towards their shared goals of accelerating the growth of decentralized wireless networks and bringing new applications that create economic efficiencies and close the digital divide.
At the time of writing, HNT is trading at $1.78, while SOL is trading at $21.96. HNT is ranked 162nd in terms of market capitalization and has seen a rise of more than 11% in the past seven days. On the other hand, SOL, which is ranked 11th, has seen a decline of more than 11.5% in the past week.
The migration to Solana is expected to have a positive impact on the Helium Network’s future market moves. With the improved scalability and reliability, the network is likely to attract more users, contributing to the growth of decentralized wireless networks. Traders can take advantage of the rise in HNT’s value in the past seven days, but they should also be wary of the decline in SOL’s value.
The Bottom Line
The recent migration of the Helium Network to the Solana blockchain is a significant milestone for the project. The upgrade provides greater scalability and reliability to the network, enabling it to handle more transactions and develop new smart contract capabilities. This is expected to attract more users and contribute to the growth of decentralized wireless networks. Traders can take advantage of the rise in HNT’s value in the past seven days, but they should also be cautious of the decline in SOL’s value.
