A well-liked crypto analyst continues to be bullish on Helium’s (HNT) long-term prospects regardless of the venture’s latest steep correction.
In a brand new YouTube video, the nameless host of InvestAnswers tells his 443,000 subscribers that Helium, a decentralized wi-fi community for the Web of Issues (IoT), is a “picture-perfect use case for blockchain.”
The venture’s native token, HNT, has tumbled by almost 40% prior to now week following the announcement that the core builders of Helium are contemplating migrating the community to high-performance blockchain Solana (SOL). HNT is buying and selling at $3.82 at time of writing.
The InvestAnswers host notes that the market generally values layer-one initiatives greater than Web3 apps. He additionally says he believes the migration may benefit each Helium and Solana.
“Helium is designed round proof-of-coverage, and POC – not proof-of-concept, proof-of-coverage – tries to confirm on an ongoing foundation that hotspots are truthfully representing their location and the wi-fi community protection they’re creating from that location. Once more, like every little thing with the blockchain, every little thing with the community, it must be trusted and operational when individuals want it, and hotspots allow individuals to function wi-fi networks for a really low-power Web of Issues gadgets… Now the structure itself lends itself very nicely to Solana’s community.
The consensus mechanism has components of proof-of-history not too removed from proof-of-coverage, and Solana’s popping out with their telephone and wearable expertise as nicely. And LongFi is ideal for powering this ecosystem, so the synergy might reduce each methods as nicely, and this fashion Helium can concentrate on the hotspots and LongFi and let Solana deal with the scalability and execution, so that is – for me, so far as I’m involved – a really thrilling use case.”
LongFi is Helium’s peer-to-peer wireless networking protocol.
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