Over the past seven days, the solana crypto asset has risen more than 23% against the US dollar after the announcement that Helium Network plans to migrate to the Solana blockchain on March 27. Helium Network’s native token helium is also up, jumping 25% over the past week against the dollar.
Core Helium Devs Reveal Network Migration Date To Move To Solana
He helium netchain dedicated to the Internet of Things (IoT), plans to migrate with the Solarium blockchain network, according to a blog post published by core developers. The Helium Foundation has scheduled a migration date after “months of meticulous planning and technical development,” according to the post. The Helium team said that the update will take place on March 27, 2023 at 10 am ET.
The Helium developers say that the update will take place during a 24-hour transition and will affect all wallets, access points and the state of the network. “The completion of the migration marks a new era for the Helium Network, allowing it to reach greater scale and truly become a network of networks,” the blog post said. “The Helium community has onboarded nearly 1 million access points, and business demand for the network is becoming a bigger focus.”
Both Solana (SOL) and Helium (HNT) tokens have seen a significant rise over the past week, with HNT leading the way. SOL has risen 8.5% in the last 24 hours and 23% in the last seven days. On February 20, 2023, HNT was up 7.3% and over the past week it was up 25%. While SOL is the 12th largest blockchain in terms of market valuation, HNT was at 117th position on Monday.
According to the Helium team, after the passage of HIP 70, core developers have been developing programs for the Solana network, such as new “governance tools in Realms”, the implementation of PoC Oraclesthe establishment of “open lns and Data Transfer Accounting Oracles”, and upload the Helium account status data to Solana Devnet. Helium’s core developers further explained that most HNT token holders and hotspot owners “will not need to take any action to participate in the upgrade.”
What do you think about migrating from the Helium Network to the Solana blockchain? Let us know what you think about this topic in the comments section below.
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