The massive adoption of the crypto space has now taken a step towards a path that focuses more on the scalability part, to enhance the functionality of the system. If looking back to the process of Ethereum transitioning to the Proof of Stake consensus mechanism, the main aim has been to improve on its scalability issue. Moving onto Polygon’s launch of zkEVM, it also is working towards making the network more scalable. Cut to the most recent development in the similar path, Helium network, the communications protocol has picked March 27 as the date for its migration to the Solana blockchain. The network is also set to work on deployment of oracles as Helium is looking to improve its scalability and reliability.
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As per the announcement that the network made in a blog post last week on February 17, 2023, Helium network mentioned that the transition of the network will be taking place over 24 hours on March 27. The blog also stated that current Helium blockchain will be halted during the transition. However, the proof-of-Coverage and data transfer activities will remain unaffected. There has been a working group of community volunteers that is being formed, who will oversee the migration process. Helium’s team commented, “This upgrade will encompass all wallets, Hotspots, and Helium Network state, and will take place over a 24-hour transition period commencing at approximately 1500 UTC / 10:00 AM ET.”
📢 ATTENTION!
The Helium Network is officially migrating to @solana on March 27th! Are you ready?
Ensure that you’ve migrated to the Helium Wallet app for a smooth transition. Keep Hotspots active and online to receive IOT tokens.More in this thread🧵👇 https://t.co/rzk2xcBEJ0
— Helium🎈 (@helium) February 17, 2023
Following the halt of the Helium network, validators will not be producing any more blocks and transactions will not be synced. The team has said that a final snapshot of the blockchain will be captured after the migration of all accounts and tokens to the Solana blockchain is completed, and the hotspots will be minted as non fungible tokens or NFTs. The blog mentioned, “Note that any rewards generated by Proof-of-Coverage activity in the prior 24 hours will be available to claim in your Helium Wallet after the transition period. Oracles will update claimable balances, and Hotspot Owners will be able to use the new claim function.”
Did You Know? Users who holds the HNT and MOBILE tokens will not need to take any action in order to participate in the upgrade.
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This transition of Helium to Solana was decided by the community back in September 2022, by passing HIP 70. Nova Labs, the creator of Helium, also announced during the same time that they have joined hands with American telecommunications provider T-Mobile; to work towards a crypto-powered mobile service that will enable the subscribers to earn crypto rewards for sharing data about coverage quality while also helping then in identifying Helium dead-spot locations nationwide.
🚨It’s official! The HIP 70 vote has ended. #Helium will be moving to the @Solana blockchain!👏🏼 pic.twitter.com/V2WIajou7R
— Helium🎈 (@helium) September 22, 2022
Source: Cointelegraph
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