Helium Network Migrates to Blockchain Solana, SOL Soars 30 Percent!

Helium migration to the Solana network. (Photo; Doc. DailyProfitCycle)

JAKARTA - Solana (SOL) will host the migration of Helium to their blockchain, according to an official announcement on February 20, 2023 by the official Solana Twitter account. Helium, a decentralized network of IoT devices, will migrate from its current Layer-1 network to the Solana blockchain on March 27th.

This was considered a significant upgrade for Helium, which called it "Helium Network's most significant scalability and reliability improvement" combined with the deployment of Oracles.

Helium's migration to the Solana blockchain will allow Helium to shift its focus from maintaining the blockchain to expanding hotspot networks and building wireless protocols.

Solana's platform can handle multiple transactions per second, helping Helium overcome the scalability and economic challenges they face. As such, Solana's ecosystem of developers, applications, and integrations will provide Helium with the speed and scalability needed to become a "network network", potentially opening up new possibilities and use cases for the Internet of Things (IoT) industry.

The addition of Helium to the Solana blockchain will also benefit token holders. HNT will be natively compatible with other platforms in the Solana ecosystem, adding utility for HNT, MOBILE, and IOT token holders.

In addition, this migration will bring nearly one million hotspots across LoRa and 5G networks. Helium (HNT) prices reflect optimism from the community, trading at $3.10 at the time of writing, which is a 27.55 percent increase in the last seven days.

The increased sales volume of NFTs and the anticipation of Helium have boosted positive sentiment within the Solana community, increasing the network's market capitalization beyond USD 10 billion (IDR 151.7 trillion) for the first time this year.

Solana's price has jumped 30 percent, with SOL trading at 26.33 (IDR 399 thousand) at the time of writing. This migration is expected to open up new opportunities and use cases for the IoT industry and increase the overall trust and reliability of the Helium network.