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Helium releases from migrating to Solana

IoT project Helium abandoned blockchain to move to Solana. With this migration, the project aims to improve stability and scalability.

Yesterday, Helium started relaying to Solana at 16:00 UTC. According to the official advertisementIt is estimated that the migration will be completed within 24 hours.

The original Helium blockchain has been shut down after a snapshot was taken. The developers will map Helium (HNT) and existing mobile tokens to the Solana blockchain. Hence, the native tokens of the Helium blockchain will become the native tokens of Solana after migration.

The purpose of the helium migration to Solana

“Overall, migration will make the Helium network significantly faster, cheaper, and more stable,” says the official Helium blog. Moreover, the IoT platform wants to take advantage of Solana’s developer ecosystem.

However, the community has criticized immigration in the context of settling down. Twitter user Questions“Stable? How many times has Solana fallen?”

Solana gained notoriety for frequent outages. The last power outage occurred in November last year. The project has been highly criticized by the cryptocurrency community, with downtime becoming an almost monthly occurrence in 2022.

Until this year, Solana experienced a technical issue in February that prevented users from completing transactions on the mainnet.

Exchange support for migration

Centralized exchanges such as KuCoin, OKX, Crypto.com, Gate.io, and Bybit will continue to support HNT after the migration.

In contrast, after a periodic review, Binance removed the HNT token last month. The delisting announcement caused the token’s price to drop by around 18% within 24 hours.

In September 2022, Helium Improvement an offer 70 (HIP-70) who discussed immigration to Solana received 81.41% of the favorable vote. Of the 7,447 votes, 6,177 supported immigration, while 1,270 opposed it.

source: Helium sound

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