When Helium abandoned its blockchain and switched to Solana, I was shocked! It had never happened before, but anything can happen in Web3, right?!

What is Helium?

First of all, this is not a chemical element with the symbol He and atomic number 2.

It is the People's Network.

Their goal is to allow low-powered wireless devices to communicate with each other and send data across their network of nodes. It is to prepare for IoT or the Internet of Things.

Abandon the idea

Helium has no advantage of their invention on "Proof of Coverage" (PoC) that works to verify hotspots are located where they claimed.

Why do double work to verify hotspots if the service provider has identification verified in the first place?

Helium tagged into Solana

Their proposal claimed to increase its speed through scalability.

The truth is their assumption is wrong at the beginning.

My guesses here are:

• they raised $200M funds that need to deliver products

• they cannot meet the expectation

• they share their price with Solana to come up with something new

• they are likely to be quite quitting in the coming years

Oh, if you bought a Helium token, you just got rugggggggggggggggg...

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Photo by Aaron Burden on Unsplash

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