A well-liked crypto analyst remains to be bullish on Helium’s (HNT) long-term prospects regardless of the mission’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 mission’s native token, HNT, has tumbled by almost 40% previously 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 typically values layer-one tasks 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 all the pieces with the blockchain, all the pieces with the community, it must be trusted and operational when folks want it, and hotspots allow folks to function wi-fi networks for a really low-power Web of Issues units… Now the structure itself lends itself very effectively 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 effectively. And LongFi is ideal for powering this ecosystem, so the synergy might reduce each methods as effectively, and this manner Helium can give attention to 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 wi-fi networking protocol.
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