HIP 70 is a proposal by the Helium core developer team to significantly improve the operational efficiency of the Helium blockchain. To achieve this goal, the core developer team proposes moving Proof-of-Coverage (“PoC”) and Data Transfer Accounting to Oracles, which simplifies the system architecture and allows for the selection of a more scalable Layer 1 (“L1”) – specifically, Solana. Such a move would bring meaningful economies of scale through the vast range of composable Solana developer tools, features, and applications.
What do you need to know about HIP 70?
Without the need to perform PoC and Data Transfer Accounting on-chain, the blockchain requirements to support the Helium Network become much simpler. Given this, HIP 70 proposes moving to Solana. Solana is a Layer 1 blockchain that focuses on the importance of scalability and speed. Solana’s Proof-of-History consensus algorithm makes the time to confirm transactions on-chain blazing fast while not compromising on security or scalability. The proposed migration from Helium’s L1 chain to Solana’s highly-scalable and fast blockchain would allow the Helium ecosystem to achieve higher uptimes, greater composability (interactivity with other crypto projects), and a faster user experience while maintaining the security and low cost of using the Helium Network.
HIP 70 describes an implementation of HIPs 51, 52, and 53, and will impact staked Validators who are operating block production and challenge creation as they do today.
After the move to Solana L1, 6.85% of HNT emissions will go back to the miner pool, benefitting Hotspot Owners in all subDAOs.
A detailed blog post has been created to help explain the proposal and answer some common questions. Read more at: https://medium.com/helium-foundation/hip-70-helium-core-team-proposes-to-migrate-to-solana-e7ea23a042e7 To read the full proposal on GitHub, click the link below: https://github.com/helium/HIP/blob/main/0070-scaling-helium.md The Helium Foundation is in full support of the proposal and has made themselves available to answer any questions you have - and we want to hear them! Submit your questions to the form below and they will try to get them addressed. They will be holding a community town hall, as well as other community discussion events, to discuss HIP 70 in the near future, so stay tuned for more opportunities to chat with the core development team about HIP 70. https://forms.gle/YMrmg6z3GMinAJ7PA