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Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
Sep 22, 2022
Helium community members staked Helium tokens (HNT) to participate in the on-chain voting. A two-thirds majority was needed during the vote for the network to migrate. Participants voted to move the decentralized WiFi network from its blockchain, officially known as HIP 70, to the Solana blockchain. Around 6,177 community members voted in favour of the switching by staking over 12 million HNT, whereas just 1,270 voted against it.
The main cause of the migration is to facilitate scaling the protocol through more efficient transactions as well as interoperability. The shift to Solana will transfer all tokens, applications, and governance to the network. The migration will include HNT, MOBILE and IOT issued on the Solana network, and these will continue to be the tokens in the Helium ecosystem. Once the migration is executed successfully, a new version of the Helium Wallet App will be rolled out.