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Helium Network Sets Sights High With Solana Blockchain Upgrade

Helium Network Sets Sights High With Solana Blockchain Upgrade

On Wednesday, the Helium (HNT) Network completed its migration to the Solana (SOL) blockchain.

The Helium Foundation’s CEO, Abhay Kumar, believes that this upgrade will enhance the project’s scalability and reliability.

The migration offers greater utility for the Helium Network, including faster transaction speeds and new smart contract capabilities.

The Helium Foundation and other contributing organizations can now focus more resources on accelerating the growth of decentralized wireless networks and bringing new applications that create economic efficiencies and close the digital divide, as they no longer have to maintain a layer-1 blockchain.

The Helium Network aims to develop a network for the Internet of Things (IoT) powered by physical hotspots.

READ MORE: Bitcoin’s Potential as a Safe Haven Asset: Bloomberg Analyst Shares his Perspective

The HNT token rewards participants for validating coverage and providing wireless hotspots. At present, HNT is trading at $1.78, down 2.74% in the past 24 hours but up by over 11% in the past seven days.

SOL is currently trading at $21.96, down 5% in the past 24 hours and more than 11.5% in the past week.

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

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