Hello everyone, it's Monday, the start of a new week. The effective way is to do it, strive to work for the money.
I have been researching for a few weeks now to know why the Helium network has chosen Solana Blockchain over other Blockchains. As we know, Solana is the ninth largest blockchain with a market capitalization of approximately $11.3 billion per coingecko; and we have another Blockchain ahead of it, but why Solana?.
Two weeks now, one of my friends introduces me to some shiller and moderator jobs on web3 that will help me overcome my financial instability, which will require me to find a new project just getting to blockchain, research it and make a job application on their discord channel. This will be a source of income for me to have a passive income from a project if I can learn more about it. Therefore, the key to this is to do good research on the new web3 projects.
However, I came across Helium network migration to Solana blockchain.
The Helium network is a blockchain-based network that powers the wireless communication protocol built on the layer 1 blockchain. This network was created by Nova Labs, which initially focused on powering the Internet of Things (IOT), Trackers and sensors, which is also partnering with T-Mobile to launch a 5G smartphone.
Why chose Solana
I think this will be a good choice for the foundation after the 82% community vote the project must be moved to the Solana blockchain.
Well, according to Scot Sigel, COO of the Helium Foundation, he said: "The migration to Solana is win-win for the project and the users, the move will enable their project to manage the wireless network scale and also focus on the governance of the blockchain". However, Partnering with Solana is a good choice for the project for the good track record of Solana responsible for running some of the largest decentralized blockchains.
Furthermore, it is the choice of the developers to choose Solana after analyzing various blockchains suitable for the project before the proposed, but not all of them provide better access to information about both software and hardware wallets, NFT marketplace, Defi. Said by Sigel in his statement.
Another benefit of migration is that the native token HNT will becomes compatible with other projects with the Solana and Helium ecosystem.
I think this is a good choice for Helium when looking at the Solana ecosystem, it has low cost, scalability and is energy efficient. And with this, the helium foundation will help for the next growth phase.
This is a big endorsement for Solana or what did you think?
Don't forget to check back every Monday for more updates on the project and the migration.
you for reading
Posted Using LeoFinance Beta
do u think it is a good move?
For now I can't say this will be a good move for Helium foundation, but I will keep you updated every Monday my friend
Posted Using LeoFinance Beta
Thank you Friend
Welcome dear friend
Posted Using LeoFinance Beta
After all Solana’s network outages? I wonder what their motivation to make this decision is.
Posted Using LeoFinance Beta
I don't know their motive of chosing Solana for scalability. But let wait maybe it a good move for the team. I'll keep you updated on Monday
Thanks for stopping in friend
Posted Using LeoFinance Beta