After the migration is complete, a new version of the Helium Wallet App will be released.
HNT token holders will also be able to use other wallets within the Solana ecosystem.
Members of the Helium community voted to transfer the decentralized Wi-Fi network from its blockchain, officially known as HIP 70, to the Solana blockchain. By staking over 12 million HNT, 6,177 community members voted in favor of the move.
Helium’s developers proposed the switch to Solana to help scale the protocol through more efficient transactions and interoperability. All tokens, applications, and governance will be moved to the network.
Following the migration, HNT, MOBILE, and IOT tokens will be issued on the Solana network and will continue to be used in the Helium ecosystem. When the migration is finished, a new version of the Helium Wallet App will be released. Furthermore, the Helium layer 1 blockchain history will be made public. Users will gain access to the new app by updating their current wallet app. HNT holders can also use Solana ecosystem wallets.
100 Billion Transaction Milestone in 2 Years
Solana reached a milestone on September 22 when the number of Solana-based transactions reached 1 billion since its launch in 2020. Even though the network is experiencing issues with blockchain speed, transactions on the platform appear to be unaffected. The network’s milestone validates its website’s claim of fast, forever.
Even though the network has performed admirably, it has encountered several problems. These include frequent network outages, which are often inconvenient. In August, the Solana network was also subjected to a network exploit, which affected several wallets. The network is gaining popularity and acceptance due to its speed and lower transaction costs.