April 19, 2023 at 17:55 GMTModified date: May 16, 2023 at 12:09 GMT
April 19, 2023 at 17:55 GMT

Helium Network Completes Solana Migration

Helium, the cryptocurrency-powered wireless network, has successfully completed its migration from its layer-1 blockchain platform to Solana.

Helium, the cryptocurrency-powered wireless network, has successfully completed its migration from its layer-1 blockchain platform to Solana.

This move is expected to unlock additional use cases for the network, facilitated by the large-scale NFT minting process associated with the migration.

During the migration, each physical hotspot node on the Helium network was represented by an NFT, resulting in the creation of over 991,000 Solana NFTs. Hotspot owners can claim their respective NFTs when they log into the wallet associated with the hotspot, and they can still transfer or update hotspot locations as needed.

Noah Prince, Head of Protocol Engineering at the Helium Foundation, explained that Helium developers took a snapshot of the existing blockchain and loaded the necessary transactions to the new blockchain. The contracts are permissionless and on-chain.

Solana State Compression Showcased During Helium Migration

The migration is the most notable test case for Solana’s new state compression feature, which allows creators to mint large amounts of NFTs at a relatively low cost compared to other platforms or even Solana’s standard NFT minting process. The Solana Foundation estimates that the cost of minting 1 million NFTs is only about $113 worth of SOL (as of April 5).

The Helium Foundation states that the NFTs function as network credentials and authenticate the hotspots in a decentralized manner. Additionally, the NFTs facilitate potential ecosystem-wide integrations, including token-gated benefits and access for hotspot owners.

Helium’s migration to Solana was approved through a community vote in September 2022. The move brings the “network of networks,” which rewards users with crypto tokens for sharing their wireless service, to a public blockchain network.

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