Helium Network sets migration to Solana for March

CRYPTO_HIGHLIGHT CRYPTO_NEWS SOL

A 24-hour transition will take place on March 27, when the Helium blockchain will be halted. Proof-of-Coverage and data transfer activities will remain unaffected. 

 

Communications protocol Helium Network has set March 27 as the date for its migration to the Solana blockchain and deployment of oracles as it seeks to improve scalability and reliability.

According to a Feb. 17 blog post, the transition will take place over 24 hours on March 27, during which time the current Helium blockchain will be halted. Proof-of-Coverage and data transfer activities will remain unaffected. A working group of community volunteers is being formed to oversee the migration process. Helium’s team stated:

"This upgrade will encompass all wallets, Hotspots, and Helium Network state, and will take place over a 24-hour transition period commencing at approximately 1500 UTC / 10:00 AM ET." 

 

After the chain halt, validators will stop producing blocks and transactions won’t sync. A final snapshot of the blockchain will be taken after the migration of all accounts and tokens to the Solana blockchain, and hotspots will be minted as nonfungible tokens (NFTs), the team said. 

Image

Top 100 2023

 

Cointelegraph launches the Top 100 list of crypto heroes and villains, 2023 edition

 

“Note that any rewards generated by Proof-of-Coverage activity in the prior 24 hours will be available to claim in your Helium Wallet after the transition period. Oracles will update claimable balances, and Hotspot Owners will be able to use the new claim function.”

Holders of HNT and MOBILE tokens will not need to take any action to participate in the upgrade. The same applies for the majority of hotspot owners, although large fleet owners may be able to test specific claim functionality or develop custom wallet solutions.

The move to Solana was enabled by the community passing HIP-70 on Sept. 22, with over 80% voting in favour. At the time, developers highlighted the migration benefits would include more of its native token available to subDAO reward pools, improved mining, as well as more reliable data transfer and ecosystem support.

Also last September, Helium creator Nova Labs announced an agreement with American telecommunications provider T-Mobile to launch a crypto-powered mobile service enabling subscribers to earn crypto rewards for sharing data about coverage quality and helping identify Helium dead-spot locations nationwide.

 

 

Source : [Helium Network sets migration to Solana for March](cointelegraph.com/news/helium-network-sets-migration-to-solana-for-march) by Cointelegraph By Ana Paula Pereira - 100+Cointelegraph.com News by Cointelegraph By Ana Paula Pereira / February 20, 2023

Join our 70k+
tribe of Akters

Have any questions?

Check our Q&A

About the AKTIO coin

Benefit fully from our ecosystem

What’s new in the App?

We’re adding new features

Customer support

support@akt.io

+353 1 574 7382

+39 06 4525 6900

Opening hours:

Monday to Friday: 9am - 5pm CET

Learn

News

Glossary

AKT Academy

Automata Pay

65-66 Warwick House 4th

Floor, Queen Street, London

England, EC4R 1EB

Automata ICO Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata Pay Europe Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata ICO Ltd

Italian Branch

Via Archimede, 161,

00197 Roma

Italy

Automata Pay Ltd, Reg number 12208424 and incorporated in the United Kingdom is the registered agent of Modulr FS Limited, a company registered in England with company number 09897919, authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution (Firm Reference Number: 900573). Traditional currency will be safeguarded by a licensed bank in segregated accounts in accordance with regulatory requirements.

Automata Pay Europe Limited, Reg number 69028 and incorporated in Ireland is the registered agent of Modulr FS Europe Limited, a company registered in Ireland with company number 638002, authorised and regulated by the Central Bank of Ireland as an Electronic Money Institution (Institution Code C191242). Traditional currency is safeguarded as e-money in accordance with our regulatory obligations. Traditional currency will be safeguarded by a licensed bank in segregated accounts in accordance with regulatory requirements.

Automata ICO Limited, Reg number 690280 and incorporated in Ireland has applied for a Virtual Asset Service Provider registration with the Central Bank of Ireland. Whilst the application is ongoing we are permitted to continue business as a Virtual Asset Service Provider in line with the Central Bank of Ireland's regulatory disclosure statement as required under section 106L of the CJA 2010 in relation to registered VASPS. It is important to note that a registration as a VASP is a registration for Anti-Money Laundering (AML) and Combatting the Financing of Terrorism (CFT) purposes only. While Automata ICO Limited does have certain financial crime control obligations under this registration, cryptoasset services remain largely unregulated. The Financial Ombudsman Service or the Financial Services Compensation Scheme do not apply to the cryptoasset activities carried on by Automata ICO Limited.