Helium token holders approve migration to Solana protocol

Helium (HNT) token holders on Wednesday formally voted to migrate from Helium layer-1 blockchain to Solana protocol.

81.41% of the 6,177 voters voted in favour of the migration in a proposal that was generally known as the Helium Enchancment Proposal (HIP 70) which was aimed towards making the group able to meet individual requires. The HIP 70 proposal had been made on August 31 citing that the switch would:

“Ship essential economies of scale by way of the massive differ of compassable Solana developer devices, choices, and capabilities.”

Helium switching to Solana protocol

The Helium Foundation said that the migration to Solana will allow the HNT token to show into further appropriate with decentralized finance (DeFi), non-fungible tokens (NFTs), and Web3 initiatives.

Helium Foundation COO Scott Sigel in a assertion said:

“Solana has a confirmed monitor report powering among the many world’s most important decentralized initiatives and they also had been an obvious different for us to companion with. Shifting to the Solana blockchain permits us to focus our efforts on scaling the group versus managing the blockchain itself.”

Helium nonetheless combating earnings

Weeks ensuing within the proposal, Helium had attracted some controversy with points in regards to the group’s earnings potential.

However, distinguished merchants have defended Helium saying that it’s nonetheless developing its infrastructure and the earnings would come later.

As quickly because the migration is achieved the entire tokens of the Helium ecosystem along with HNT, IOT, and MOBILE will flip into on the market on Solana. A model new mannequin of the Helium Pockets App will even be unveiled.

The publish Helium token holders approve migration to Solana protocol appeared first on CoinJournal.

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