The Helium decentralized communications project team made a proposal to develop the protocol that includes the transition to the Solana blockchain.

Helium developers proposed HIP 70 which will migrate PoC and Data Transfer Account to Oracles. This simplifies Helium’s blockchain needs, increasing scalability, speed, and reliability. It also provides more rewards for miners and a pass to Solana. 👀 https://t.co/ZFSWmwYn8f pic.twitter.com/ztnahzGAet

— Helium Foundation 🎈 (@HeliumFndn) 30 August 2022

Other improvements suggested by the developers include transferring data transfer accounting to oracles and validating the Proof of Scope (PoC) consensus algorithm. The solution is designed to reduce Helium blockchain requirements, increase the speed and reliability of the network, and enable the transition to Solana.

“Solana is the first layer blockchain focused on scalability and speed. Solana’s Proof-of-History consensus algorithm allows for lightning-fast confirmation of transactions across the network without sacrificing security,” the team said.

Regarding the proposal to abandon the development of its own blockchain, the Helium team explained that in recent years it has mainly ensured uninterrupted operation in the “firefighting” mode. During this time, many options for first-level networks have emerged, which can become the basis of the project.

“It turns out that instead of spending time and effort developing the helium blockchain, the community can benefit from the development and total resources of a larger ecosystem,” the developers said.

Following the proposed migration to Solana, HNT and Data Credits token transactions and identity management will take place.

Using Oracle will save on validator fees (6.85% of HNT emissions) in favor of access point owners.

“The move to the scalable and fast Solana blockchain will allow the Helium ecosystem to achieve higher uptime, greater composability with other projects, and faster user interactions while maintaining security and lower cost,” the developers said.

Activation of the improvement proposal will occur after it has been approved by a community vote.

Recall that, according to media reports, in February Helium raised $ 200 million at a valuation of $ 1.2 billion.

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