The decentralized wireless network Helium (HNT) is officially migrating to the Solana (SOL) blockchain after a community vote upheld the decision.
The Helium Foundation announced on Thursday that its community approved the move by a majority 81.41% vote on Helium Improvement Proposal (HIP) 70.
Says Scott Sigel, the chief operating officer of the Helium Foundation,
“We have an ambitious mission of deploying and managing wireless networks at scale and moving to Solana allows us to do that. Solana has a proven track record powering some of the world’s most important decentralized initiatives and they were an obvious choice for us to partner with. Moving to the Solana blockchain allows us to focus our efforts on scaling the network as opposed to managing the blockchain itself.”
The Helium Foundation first announced its intention to migrate the ecosystem to Solana in late August, when HNT was trading at around $6.00. In the week following, the token plunged to a low of $3.33.
HNT has since partially recovered and is trading at $4.67 at time of writing. The 71st-ranked crypto asset by market cap is up nearly 5% in the past 24 hours.
Solana’s native asset SOL is trading at $32.56 at time of writing. The 9th-ranked crypto asset by market cap is up more than 5.6% in the past day.Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
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