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On August 31st, 2022 Helium Foundation published a blog consisting of a proposal HIP 70. This proposal had several key factors to decide the further path for the whole Helium ecosystem. By and large, the decision of the IoT telecom platform would bring a huge change that would impact every single entity within the ecosystem.
The proposal HIP 70 was intended to improve the performance of blockchain. It further detailed the methods to achieve their goal including converting its Proof-of-Coverage (PoC) and its consensus mechanism of Data Transfer Accounting to Orcales. This would be published to the Solana, a prominent scalable layer blockchain network.
Members of Helium Core Team believe this transition would let the network simplify its network system architecture along with achieving more scalability. This would mean that along with Helium’s ecosystem including developers and miners, its economy which includes HNT, IOT, DC and MOBILE like tokens would be shifted to Solana.
In a nutshell, the whole project will leave the HoneyBadger BFT based Helium blockchain and shift to and run on Solana in near future.
The Helium team noted in the blog regarding the change that it would be meaningful in terms of Helium network’s scope, impact and benefits as well its users. Core developers of the network and The Helium Foundation agreed to the fact that Solana would be the best option for the network. As a blockchain it could easily provide the desired anticipations of Helium in a way of its global expansion.
Helium has a quite effective business model where it pioneers different projects while incentivizing the wireless networks’ infrastructure buildout. The network pushes towards organic growth with the participation of individuals to Internet of Things (IoT) and 5G networks, in order to license and deploy LoRaWan IoT electronic devices. This takes place through a challenging model for the traditional route of big players with massive budgets in space.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
