The Helium wireless network has completed its transition to the Solana blockchain, as part of which it will create nearly 1 million non-fungible tokens.
The Helium Network migration to @solana is complete! ? ?
This is an incredible milestone for the global Helium community and ushers in a new era for a highly scalable and resilient Helium Network along with a new world of utility on Solana.https://t.co/Ip8bVmKeLJ pic.twitter.com/SR5eMbchsS
— Helium? (@helium) April 19, 2023
“The Helium team took a snapshot of the existing blockchain and uploaded the necessary transactions to the new network,” said Noah Prins, head of protocol development.
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According to project representatives, the created NFTs act as access points for each Helium node. Validators will still be able to transfer tokens and update their location at their discretion.
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According to analytics platform Flipside Crypto, as of April 20, Helium has minted roughly 280,000 NFTs.
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“The scalability, speed and innovations of Solana provide the single foundation for realizing Helium’s decentralized network ambitions, particularly with regard to 5G,” said Anatoly Yakovenko, co-founder of the blockchain.
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In September 2022, the community approved migration to Solana. The developers say the transition will enable the protocol to scale through more efficient transactions and functional interoperability.
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In February 2022, media reports indicated that Helium raised $200 million at a valuation of $1.2 billion.
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In March 2023, the cryptocurrency exchange Binance delisted the native token of the wireless network — HNT.
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