Helium’s community has voted to migrate the network from the native Helium blockchain to Solana.
Helium (HNT), a mining network that powers Internet of Things and 5G, is looking to take advantage of Solana’s efficient blockchain, giving developers room to focus on the platform.
More than 6,000 community members voted for the Helium Improvement Proposal (HIP), while 1,270 others, or roughly 18%, voted against it. This saw it pass the required two-thirds threshold of votes.
Helium’s move to the Solana (SOL) blockchain is said to take effect in the fourth quarter of 2022.
What does this mean for Helium investors?
HIP 70, the proposal that was recently passed, will not change the fundamentals of the network, according to Helium. However, it will bring “several benefits to the Helium Network”. Scott Sigel, chief operating officer of the Helium Foundation, said in a statement:
Investors are also said to have advantages from the migration, including a schedule of two million HNT tokens to be added to reward pools every year.