Solana (SOL) Price Surges as Helium Unveils Migration Date
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Helium is a decentralized blockchain-based protocol that is created for Internet-of-Things or IoT applications. The platform has announced the official date of merging with the Solana blockchain network.
According to the latest announcement by the official handle of Helium, investors can expect that the integration will take place on 27th May this year.
This news was shared by Helium on their official blog recently. In the same blog post, Helium developers informed the users that the deployment on the Solana network and Oracle is one of the most important upgrades that are associated with the decentralized application.
Helium’s Migration to Solana Blockchain will Increase Scalability and Reliability
The blog post reads that the upgrade has been in the planning phase for months. It is worth noting that Helium uses a Hotspot, an array of wireless channels, and mining equipment designed for blockchains to act as nodes.
It means that Helium users can also mine cryptocurrencies and earn rewards in the form of an HNT token that is native to the Helium protocol.
Helium has reportedly provided more than 1 million hotspots thus far. The project has received considerable traction in the form of enterprise adoption.
The project has been working on smoothing out some issues related to scaling that limited its mining and data-sharing capabilities. By associating with the Solana project, Helium is attempting to increase its traction in the cryptocurrency stratosphere.
Helium developers have told the media that working with the Solana network will improve the scalability and transaction processing rate for the project. To make the onboarding possible, Helium is scheduled to go offline for 24 hours on the official date.
Once the upgrade has been completed, the custodial wallet and other features offered by Helium will be at the disposal of Solana users. The investors that are currently using the Solana network will be able to mine and trade HNT tokens and join the network as nodes. The news about this transition has sparked a chance for price appreciation for the Solana network.
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