Helium Sets Solana Migration for March 27

Helium Network migration to Solana now has a proposed date as it is set to happen on March 27. According to the announcement from its Foundation.

In a blog post detailing its plans for the migration, the foundation stated that it is currently constituting an Upgrade Readiness Working Group. The group would consist of volunteers in the community to be responsible for monitoring the migration process. It will also choose the final date for the migration, as March 27 remains tentative.

This announcement came months after Helium announced that it would move to the Solana blockchain. The blockchain-based decentralized wireless network provider said it was moving off its chain last year.

Why Helium is Migrating to Solana

At the time, Helium Foundation claimed that its focus is currently split between maintaining the Helium Layer 1 Blockchain and working on other development plans for the network. By moving to Solana, it can focus solely on developing the network.

According to the foundation, Solana offers speed, scalability, wallet compatibility, and a viable ecosystem to help its progress.

Migrating to Solana will also represent an upgrade for Helium. The upgrade “will encompass all wallets, Hotspots, and Helium Network state.” The migration is expected to last 24 hours.

Already, several organizations have volunteered to be part of the working group. But the network is still expecting more volunteers. The transition would see Helium’s entire chain state, including accounts, tokens, and hotspots moved to Solana. 

While the team claims to have all known risks under control, it acknowledged that there might be a need for an extension on the timeline for some reasons. Possible reasons include a need for a software update before the migration or if the smart contract audit recognizes a critical feature that needs to be fixed.

Meanwhile, Helium token HNT is up 12% in the last seven days and 0.65% in the previous 24 hours to trade at $2.83 as of press time.

Source: BeInCrypto


BeInCrypto has reached out to company or individual involved in the story to get an official statement about the recent developments, but it has yet to hear back.

Bookmark (0)
ClosePlease loginn

Related Posts

Bitcoin: The Best Performing Asset Class in Q1 2023

Bitcoin set for its best trading quarter in nearly 2-years.
The top cryptocurrency vastly outpaces stocks performance.
BTC is well placed for more gains in Q2 2023.

Bookmark (0)
ClosePlease loginn

USDC Supply Shrinks by $10 Billion in March, But Hits 6-Month High on Smart Contracts

USDC supply declined by $10 billion in March following its exposure to the US banking crisis.
However, the stablecoin use on smart contracts reached a six-month high of 42.08%.
Tether USDT is now the dominant stablecoin, accounting for over 60% of the market.

Bookmark (0)
ClosePlease loginn

Bittrex Quits US, Cites Unfavorable Regulatory Environment

Crypto exchange Bittrex said it was leaving the United States because of the regulatory environment.
The crypto company had had previous skirmishes with financial regulator in the country.
Crypto stakeholders have warned that the US regulatory landscape would force many firms out of the country.

Bookmark (0)
ClosePlease loginn

Solana overcomes FTX fiasco — SOL price gains 100% in Q1

The cryptocurrency market may have overreacted to Solana’s FTX links and its tainted boss, Sam Bankman-Fried.

Bookmark (0)
ClosePlease loginn

Elon Musk requests dismissal of $258B Dogecoin lawsuit: Report

The plaintiff’s brought up Musk’s Saturday Night Live appearance in 2021, where he portrayed “a fictitious financial expert” and called Dogecoin “a hustle,” resulting in a steep price decline minutes later.

Bookmark (0)
ClosePlease loginn

Here’s how the crypto industry is using artificial intelligence

The rise of artificial intelligence, though in its early stages, has found use cases in crypto through countless projects.

Bookmark (0)
ClosePlease loginn

Leave a Reply

Your email address will not be published. Required fields are marked *