Shalini Nagarajan

<div id="highlights-block_632c355609aaa" class="highlights">
 <ul>
 <li>The move is pegged to make Helium tokens more compatible with other crypto applications </li>
 <li>More than 6,000 community members voted in favor of the migration, while some 1,000 voted against </li>
 </ul>
 
</div>



Token holders in decentralized wireless provider Helium have formally voted to move from its own Layer-1 blockchain to the Solana protocol.



On Wednesday, a majority community vote of 81.41% officially ratified the Helium Improvement Proposal (HIP 70) aimed at developing the network to meet user demand. Participants had to stake the Helium token (HNT) in order to engage in the vote.&nbsp;



The <a href="https://heliumvote.com/13Y79HnMVt4Epug2rbLYivMPvrcpC2wYUNbZK5Dga3tw3VBpBjk">final results</a> showed 6,177 members voted in favor of the migration by staking some 12 million HNT ($57 million), while 1,270 voted against it.&nbsp;



The Helium Foundation said the switch will allow HNT to become more compatible with other projects and crypto applications in decentralized finance (DeFi), non-fungible tokens and other Web3 applications.&nbsp;



“Solana has a proven track record powering some of the world’s most important decentralized initiatives and they were an obvious choice for us to partner with,” Helium Foundation COO Scott Sigel said in a <a href="https://www.webwire.com/ViewPressRel.asp?aId=294557">statement</a>. 



“Moving to the Solana blockchain allows us to focus our efforts on scaling the network as opposed to managing the blockchain itself.”



The Helium core developer team made the <a href="https://cms.blockworks.co/helium-to-vote-to-transition-to-solana/">proposal</a>, dubbed HIP 70, on Aug. 31. They said the move would “bring significant economies of scale through the vast range of composable Solana developer tools, features, and applications.” 



<h3>Helium still working on revenue streams amid Solana migration</h3>



Helium had attracted controversy in the weeks leading up to the proposal, with some questioning the network’s revenue potential. Prominent investors defended the startup, saying it was still building infrastructure and that revenue would come later.&nbsp;



HNT, one of the project’s native tokens, is down 90% from its all-time high recorded as crypto prices peaked last November, correlating with the rest of the digital asset market.



In any case, as a result of Helium&#8217;s impending migration, all current ecosystem tokens, including HNT, MOBILE and IOT will be soon issued on Solana.&nbsp;



Once the migration is completed, a new version of the Helium Wallet App will be available, the network said. The history of the previous blockchain will still be available to the public.



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Helium Token Holders Approve Switch to Solana Blockchain

Casey Wagner

<div id="highlights-block_6220fe80ebd8b" class="highlights">
 <ul>
 <li>Bringing real-world use cases front and center is key to adoption, especially on the retail side, Emrit said</li>
 <li>The company offers cryptocurrency mining infrastructure to retail and business clients that allows them to earn passive income</li>
 </ul>
 
</div>



Jiten Varu, CEO of distributed blockchain infrastructure company Emrit, knows that there is some skepticism around cryptocurrency. A great way to onboard the unconvinced? Show them the money.



The company offers cryptocurrency mining infrastructure to retail and business clients with an emphasis on energy-efficient solutions that allows them to earn passive income. The focus is on bringing what Emrit calls “distributed infrastructure” to communities, Varu told Blockworks.



The key to appealing to clients, especially retail consumers, is to focus on the tangible, Varu said.



“When you talk about Web3, it&#8217;s still very virtual for most people,” he said. “They don&#8217;t see the real use case.”



<blockquote class="wp-block-quote">“What we&#8217;re finding is our retail customer is connecting to these projects very quickly because we&#8217;re bridging that gap between the physical and Web3 world.”&nbsp;</blockquote>



Customers pay a one-time fee of $199 for the miner and receive 50% of earnings, which are deposited into the user’s wallet once a month. <a href="https://emrit.io/" target="_blank" rel="noreferrer noopener">Emrit</a> was unable to comment on average award amounts per user.&nbsp;



“This is not a coin-focused or currency-focused crypto project, and that&#8217;s the first thing we try to educate our retail customers on,” he said. “It&#8217;s a passive income, not like day trading Dogecoin.”&nbsp;



Emrit works with existing blockchains, Varu said. Its biggest project at the moment is with <a href="https://cms.blockworks.co/?s=helium">Helium</a>, a decentralized wireless network commonly known for powering “internet of things” (IoT) devices with cryptocurrency.&nbsp;



In 2021, Emrit deployed tens of thousands of Helium hotspots to consumers and enterprises in North America and Europe, and now it has its sights set on expansion in Latin America.&nbsp;



To that end, Emrit in December struck a deal with telecommunications company C3ntro of Mexico City to supply Helium IoT to cryptocurrency miners, giving users a new way to generate revenue.&nbsp;



&#8220;Our partnership with Emrit allows us to deploy new, innovative solutions to our customers at a fraction of capex associated with a typical IoT deployment,” Abraham Smeke, C3ntro vice president of global carriers.



Under the partnership, Emrit subsidizes network deployment costs with cryptocurrency mining rewards.



“Our consumer and enterprise hosts have earned tens of millions in [helium] cryptocurrency rewards over the last year, for simply providing a steady internet connection and electricity equivalent to a 5-watt light bulb,” Varu said. “As we look to hyperscale our business, partnerships with C3ntro will significantly speed the adoption of Web3 applications.”



Demand has been strong, particularly from the retail side, he said, but it’s not a way to generate riches overnight.&nbsp;



<blockquote class="wp-block-quote">“This is passive income that requires very little support and maintenance,” Varu said. “That’s the draw.”&nbsp;</blockquote>



The partnership with C3ntro comes on the heels of Emrit’s collaboration with PlanetWatch, a global air-quality monitoring system using blockchain and IoT. In June 2021, Emrit partnered with the company to fund the deployment of thousands of air quality monitors to be hosted by Emrit hotspots.&nbsp;



The partnership allows PlanetWatch to save climate data on the blockchain, increasing transparency and security.



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