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A popular crypto analyst remains bullish on the long-term outlook for helium (HNT) despite the project’s recent sharp revision.
In a new YouTube video, the anonymous host of InvestAnswers tells his 443,000 subscribers that Helium, a decentralized wireless network for the Internet of Things (IoT), is a perfect use case for blockchain. I’m here.
The project’s native token, HNT, has fallen nearly 40% over the past week following the announcement that Helium’s core developers are considering migrating their network to the high-performance blockchain Solana (SOL). . HNT is trading at $3.82 at the time of writing.
The InvestAnswers host points out that the market may favor Layer 1 projects over Web3 apps. He also said he believes the transition could benefit both Helium and Solana.
Helium was designed around proof of coverage, and a POC (proof of concept, not proof of coverage) is an honest representation of the location and coverage of the wireless network the hotspot is created from. We’re going to continuously try to validate that the place where it is, again, like everything about the blockchain, everything about the network, it has to be trusted and operational when people need it. , hotspots allow people to operate wireless networks for very low-power internet-of-things devices…now the architecture itself is very well suited for Solana’s network.
The consensus mechanism has elements of proof of history not far from proof of coverage, with Solana also launching phone and wearable tech. And since LongFi is perfect for powering this ecosystem, synergies can be cut equally both ways. This way, Helium can focus on Hotspot and LongFi and let Solana handle scalability and execution. worry. It’s a very exciting use case.
LongFi is Helium peer-to-peer wireless networking protocol.
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