{"id":500868,"date":"2022-09-02T11:28:41","date_gmt":"2022-09-02T11:28:41","guid":{"rendered":"https:\/\/wncen.com\/?p=500868"},"modified":"2022-09-03T06:47:08","modified_gmt":"2022-09-03T06:47:08","slug":"helium-hnt-deflates-15","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/helium-hnt-deflates-15\/","title":{"rendered":"Helium (HNT) Deflates 15% After Proposed Transition To Solana"},"content":{"rendered":"

The Helium network, a blockchain-powered wireless system, may soon undergo significant revisions as its key developers consider switching to Solana.<\/p>\n

The proposal by Helium’s core developers to switch from their own blockchain network to Solana’s was codenamed “HIP 70.”<\/p>\n

Since developers revealed a plan to migrate the network to Solana, the value of HNT has plummeted.<\/p>\n

The HIP 70 proposal to move to the Solana blockchain aims to improve data transit, network coverage, and dependability. Some of the network issues have been described in a recent post on Medium.<\/p>\n

Related Reading: Binance Coin Eyes $316, After Being Stuck At $276 In The Last Week<\/a><\/div>\n

Helium Switch To Solana Aims To Solve Technical Issues<\/h2>\n

The post suggests that less Proof of Coverage activity occurred due to the network’s massive scale. They believed the blockchain’s inefficiencies were to blame for the lower than usual volume of transactions.<\/p>\n

In particular, there are problems with data packet transfers and the overall network load between the blockchain and the validator.<\/p>\n

The projected network-wide move was intended to resolve or significantly reduce the issues currently plaguing the network.<\/p>\n

According to a blog post by the Helium Foundation:<\/p>\n

“Thousands of developers across the world are working on apps that are only conceivable on Solana owing to its quick and cheap transactions, real-world NFT applications, business-to-business and business-to-consumer marketplaces, and more.”<\/strong><\/p><\/blockquote>\n

The proposal’s goal was to build a network that was faster, safer, and more scalable, however the market rejected this idea. The primary token of the project, HNT, saw its price drop from $5.6778 to $4.6483 in the period of a few hours on August 31.<\/p>\n

Since then, the token has not been able to recover. A rise in the volume of transactions is shown on CoinMarketCap and CoinGecko. Lower prices and higher volume indicate a sell off occurred between August 31 (the day of the release) and September 2 (the time of writing).<\/p>\n

Major Consolidation In Crypto<\/h2>\n

In the present market for cryptocurrencies, pessimistic sentiment has been prevalent. Some investors and traders in HNT have been triggered by this, and the general reaction has not been favorable.<\/p>\n

The Helium move to Salana is a massive consolidation in the crypto industry.<\/p>\n

The goals of these changes are to increase trust among investors and entice new users to join their ecosystem. However, the news of the merger between Solana and Helium has done nothing to stop the market decline.<\/p>\n

Only time will tell if the combination of the two will inspire trust among traders and entice new participants to the ecosystem.<\/p>\n

Related Reading: Shiba Inu Burn Events Spark A Rally In Altcoin Over The Past Weeks<\/a><\/div>\n

<\/p>\n

Crypto total market cap at $959 billion on the daily chart | Source: TradingView.com<\/a>\r\n\r\nFeatured image from Securities.io, chart from TradingView.com<\/a><\/pre>\n","protected":false},"excerpt":{"rendered":"
The Helium network, a blockchain-powered wireless system, may soon undergo significant revisions as its key developers consider switching to Solana. The proposal by Helium’s core developers to switch from their own blockchain network to Solana’s was codenamed “HIP 70.” Since developers revealed a plan to migrate the network to Solana, the value of HNT has plummeted. The HIP 70 proposal to move to the Solana blockchain aims to improve data transit, network coverage, and dependability. Some of the network issues have been described in a recent post on Medium. Related Reading: Binance Coin Eyes $316, After Being Stuck At $276 In The Last Week Helium Switch To Solana Aims To Solve Technical Issues The post suggests that less Proof of Coverage activity occurred due to the network’s massive scale. They believed the blockchain’s inefficiencies were to blame for the lower than usual volume of transactions. In particular, there are problems with data packet transfers and the overall network load between the blockchain and the validator. The projected network-wide move was intended to resolve or significantly reduce the issues currently plaguing the network. According to a blog post by the Helium Foundation: “Thousands of developers across the world are working on apps that are only conceivable on Solana owing to its quick and cheap transactions, real-world NFT applications, business-to-business and business-to-consumer marketplaces, and more.” The proposal’s goal was to build a network that was faster, safer, and more scalable, however the market rejected this idea. The primary token of the project, HNT, saw its price drop from $5.6778 to $4.6483 in the period of a few hours on August 31. Since then, the token has not been able to recover. A rise in the volume of transactions is shown on CoinMarketCap and CoinGecko. Lower prices and higher volume indicate a sell off occurred between August 31 (the day of the release) and September 2 (the time of writing). Major Consolidation In Crypto In the present market for cryptocurrencies, pessimistic sentiment has been prevalent. Some investors and traders in HNT have been triggered by this, and the general reaction has not been favorable. The Helium move to Salana is a massive consolidation in the crypto industry. The goals of these changes are to increase trust among investors and entice new users to join their ecosystem. However, the news of the merger between Solana and Helium has done nothing to stop the market decline. Only time will tell if the combination of the two will inspire trust among traders and entice new participants to the ecosystem. Related Reading: Shiba Inu Burn Events Spark A Rally In Altcoin Over The Past Weeks Crypto total market cap at $959 billion on the daily chart | Source: TradingView.com Featured image from Securities.io, chart from TradingView.com<\/p>\n","protected":false},"author":557,"featured_media":500869,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[1020,1144,6664,10818,86755,86756,86754,83626],"class_list":["post-500868","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-blockchain","tag-btcusd","tag-crypto","tag-helium","tag-helium-network","tag-hip-70","tag-hnt","tag-solana"],"acf":[],"yoast_head":"\nHelium (HNT) Deflates 15% After Proposed Transition To Solana<\/title>\n<meta name=\"description\" content=\"The Helium network, a blockchain-powered wireless system, may soon undergo significant revisions as its key developers consider switching to Solana. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Helium (HNT) Deflates 15% After Proposed Transition To Solana","url":"http:\/\/wncen.com\/news\/helium-hnt-deflates-15\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/helium-hnt-deflates-15\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/09\/Helium.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/09\/Helium.png?fit=696%2C470"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["blockchain","btcusd","crypto","helium","helium network","hip 70","hnt","solana"],"dateCreated":"2022-09-02T11:28:41Z","datePublished":"2022-09-02T11:28:41Z","dateModified":"2022-09-03T06:47:08Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Helium (HNT) Deflates 15% After Proposed Transition To Solana\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/helium-hnt-deflates-15\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/helium-hnt-deflates-15\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/Helium.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/Helium.png?fit=696%2C470\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"blockchain\",\"btcusd\",\"crypto\",\"helium\",\"helium network\",\"hip 70\",\"hnt\",\"solana\"],\"dateCreated\":\"2022-09-02T11:28:41Z\",\"datePublished\":\"2022-09-02T11:28:41Z\",\"dateModified\":\"2022-09-03T06:47:08Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/09\/Helium.png?fit=696%2C470","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/500868"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=500868"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/500868\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/500869"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=500868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=500868"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=500868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}