Decentralized 5G peer-to-peer network Helium proposes switching to Solana in search of more efficient operations.
Ultimately, the Internet as we know it and all digital networks are just a means of communication between devices. Whether this link is wired or wireless depends on some form of physical infrastructure. 5G, or 5th generation wireless technology, is essentially a hardware (and software) upgrade for communication between cellular devices. As operators continue to struggle with declining revenue and profitability, blockchain is seen as the next revenue opportunity.
Founded in 2013, Helium Network is the world’s first peer-to-peer LoRaWAN network for the wireless Internet of Things, also known as the “People’s Network”. The Helium network currently has over a million hotspots, most of which are located in the US, Europe and China. Helium is a decentralized wireless network where people can earn cryptocurrency tokens by making their home internet connection available to others. By providing network security and allowing nearby devices to share their connection, users of a Helium node (or hotspot) can, for example, earn cryptographic tokens. The Helium Network uses a decentralized network of hotspots to provide long-range connectivity to Internet of Things (IoT) devices and, in the long term, to connect any device to the Internet via wireless networks such as 5G.
According to the latest statistics, the platform has attracted more than 935,000 active node operators since its launch thanks to a network optimized for IoT devices such as trackers and sensors. Around 3,300 nodes make up the newly launched Helium 5G network, optimized for mobile devices such as smartphones and tablets.
The Helium Foundation says it is responding to current user needs by switching to the Solana blockchain to achieve faster transaction speeds, longer uptime, and greater interoperability with other blockchains. The proposal to abandon their blockchain in favor of Solana was dubbed “HIP 70”. In February, Helium raised $200 million in a Series D funding round led by Tiger Global and FTX Ventures at a $1.2 billion valuation.
Read more in the bulletin.
Excerpt from 5G Newsletter #94
👉 New market leaders in IoT device management
👉 iPhone 14 Pro 5G
👉 Network Sharing
👉 36,000 5G sites
👉 Why disable 5G?
👉 Tri-band and tri-sector 5G radio to build resilient networks.
👉 Seal public networks
👉Rakuten Mobile Open Innovation Lab
👉 Private 5G Introduction (Training)
👉 New restrictions on the import of semiconductors into China
👉 Global 5G subscriptions approach one billion
👉 5G side communication
👉 Electronic transit to order