Algorand throws hat in ring as Helium community begins vote on Solana migration
Algorand (ALGO) network believes it would be a better option for Helium (HNT) than Solana (SOL) even as voting commenced on the migration proposal.
Two top executives of Algorand urged Helium developers to reconsider their stance on Solana because ALGO’s network offers a better option.
Algorand’s chief technology officer John Woods tweeted that ALGO’s blockchain meets Helium’s need for “a secure, robust and scalable chain.”
Helium needs a secure, robust and scalable chain. Algorand meets those requirements.
We are ready to talk to the Helium team.
— John Woods (@JohnAlanWoods) September 12, 2022
The view was also shared by Algorand’s founder and CEO, Silvio Micali, who said that Algorand is ready to support Helium with its “secure, scalable, and TRULY DECENTRALIZED blockchain.”
Helium community, @HeliumFndn & @amirhaleem: @Algorand is ready to support @helium with our secure, scalable and TRULY DECENTRALIZED blockchain and help you with the migration! https://t.co/PflPwrXBIT
— Silvio Micali (@silviomicali) September 12, 2022
An Algorand-focused VC and Helium investor Borderless Capital also wants the wireless network developers to reconsider their move to Solana.
Borderless Capital wants the community to stop its vote on the Solana migration and first consider proposals from other blockchain networks.
2/5 @Helium moving to another L1 blockchain would be the largest chain migration ever by every metric.
We formally propose that the @HeliumFndn board evaluates proposals from other leading L1 blockchains first before submitting the #HIP70 proposal to the community vote.
— Borderless (@borderless_cap) September 12, 2022
Helium considered other blockchain networks
Arman Dezfuli-Arjomandi, the host of Helium-focused podcast The Hotspot, shared Discord conversations that showed that HNT developers chose Solana over other chains for several reasons.
Definitive “why Solana and not chain [x]” answer from @helium core devs.
— Arman Dezfuli-Arjomandi 🎈 (@rawrmaan) September 7, 2022
According to the screenshot, the reasons include a credible scalability plan, a large and diverse ecosystem, other proof of physical projects, transaction costs, stability and predictability of the L1, and the Nakamoto coefficient as a proxy for decentralization.
The Discord screenshot revealed that the developers considered other blockchains like Polkadot (DOT), Ethereum (ETH), Polygon (MATIC), Avalanche (AVAX), and Algorand before settling for Solana.
Helium community begins voting on Solana migration proposal
The Helium community has already started voting on the HIP70 proposal.
The HIP70 proposal will see the Helium network “move Proof-of-Coverage and Data Transfer Accounting to dedicated Helium Oracles and migrates Helium’s tokens and governance to the Solana blockchain.”
As of press time, over 2500 votes have been cast. 75% of these votes support the planned migration to Solana, while others are against it.
The voting period is expected to last for the next eight days.
