Helium Network Founder Pledges to Stick With Solana After Bloody Day for SOL

The wireless hotspot network voted to move to Solana in September.

AccessTimeIconNov 10, 2022 at 2:10 a.m. UTC
Updated Nov 10, 2022 at 3:35 p.m. UTC

Danny is CoinDesk's deputy business editor. He owns BTC, ETH and SOL.

Helium network founder Amir Haleem tweeted his support late Wednesday for the decentralized wireless network’s migration to Solana, the blockchain ecosystem perhaps hardest hit by FTX’s sudden implosion.

“None of the criteria we used to evaluate the various [layer 1] blockchains has changed from when we proposed HIP70 and now,” he said, referring to the community vote that saw Helium abandon its own blockchain in favor of Solana’s in late September.

The vote of confidence came after a bloody, 24-hour drawdown in crypto markets in which SOL shed over 40% of its value and Helium’s HNT lost 15%. Haleem, CEO of Helium backer Nova Labs, said he was unfazed by the bear market carnage and pledged to continue apace.

Helium is a crypto-powered wireless hotspot network that until recently operated atop its own blockchain. The move to Solana will see it integrate with that far larger network’s big tech gambits, including Solana’s crypto-centric cellphone.

The project has been plagued by accusations of lying about key partnerships and its actual profitability.


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Danny is CoinDesk's deputy business editor. He owns BTC, ETH and SOL.

CoinDesk - Unknown

Danny is CoinDesk's deputy business editor. He owns BTC, ETH and SOL.