• Helium Network is set to migrate to the Solana blockchain in March, and will deploy oracles after migration.
• The HNT token has gained 14% since the news broke out and is currently trading at $2.87.
• The transition period will last 24-hours and rewards generated during this time can be claimed afterward.
Helium Set To Migrate To Solana
The Helium Network is set to migrate to the Solana blockchain next month on March 27, 2023 in order to increase reliability and scalability. This move was approved by the community on September 22 of last year through a HIP-70 proposal. A working group of volunteers has been formed to oversee the entire migration process.
Price Increase For HNT Token
Since news of the migration broke out, the price of the HNT token has increased by 14%, currently trading at $2.87 per coin at press time. It has seen steady growth for two days straight since February 17 when it was first confirmed that Helium would migrate to Solana.
24-Hour Transition Period
In order for this migration process to take place successfully, there will be a 24-hour transition period where no blocks can be created on the Helium blockchain. Data transfer and proof-of-coverage activities will remain unaffected during this time however, so any rewards generated by these activities prior to the transition can still be claimed afterwards in your wallet.
Hotspots & NFTs
Afterwards, Hotspots will be minted as non-fungible tokens (NFTs). HNT and MOBILE token holders do not need to do anything in order for them to participate in this process; all accounts and tokens will automatically migrate over when it begins.
Overall, Helium’s move towards Solana marks an exciting new chapter for their protocol as they seek greater scalability and reliability within their network architecture – which should come as good news for HNT token holders who are already reaping its rewards!