The week after Nova Labs announced their plan to propose a HIP that would move the functions of the Helium blockchain onto oracles which report to Solana, the internet swelled in opinion on what exactly this means for the Helium ecosystem. Solana has been criticized in the past for being ‘reliably unreliable’ and many skeptics are concerned Solana is too centralized. Antoly Yakovenko, founder of the Solana blockchain, says the outages have been their curse, but are grateful in context because the outages have been caused due to the amount of traffic they support. Validators on Solana handle over 30 million transactions a day, the highest recorded being over 60 million transactions, which is more than all other blockchains combined.
A bearish sentiment has claimed dominance in crypto media, shaking many investors seeking less volatile assets. One leading speculation in crypto startups, which can be a dime a dozen, is that many entities may fight to provide similar services, until a leader emerges, at which time they would begin to consolidate. Despite all time lows, and rocky losses for both coins, this move indicates a large show of faith among the high roller investors that backed these projects through their inauguration and continue to provide support behind the scenes. Solana represents an ecosystem containing a host of developers, software, and products that are made possible exclusively through Solana’s quick block times and high transaction rate. This type of consolidation is a grand show of support for both networks.
Volatility compounds in the market under the strain of retail investors ‘shorting’ Bitcoin, which is a short-term trading tactic that focuses more on extracting value from an industry than investing in it. These retail trading strategies put additional strain on an oversold market, further highlighting these volatilities, putting further strain, increasing volatility, etc. Sentiment feedback loops often drive markets into unfounded lows, and frenetic highs, and make the prospect of short term trading a very risky endeavor. While legal uncertainty looms around crypto, media outlets capitalize on hype-words that drive clicks and move headlines, but do little to illustrate the reality of the underlying technology behind it.
With the consolidation in resources that comes with Helium migrating to Solana, comes a consolidation in efforts aimed toward establishing rules and guidelines around crypto that protect the space being made for these industries. In directing our combined efforts toward reestablishing systemic norms, Helium and Solana can continue to work toward providing affordable decentralized banking, trading, wireless connectivity, software and more. Solana may have posted a rough track record for the last few months, flashing red candles shaking wary investors, but recently made an addition to their Github that has many developers excited and optimistic about the future of the blockchain.
Move is a programming language developed by Meta and has been embedded as a Solana loader, which will allow modules to load more dependencies and allow for parallel execution of Move scripts. To the laymen, this enables Move and Solana applications to leverage one another's functionality without requiring the Solana runtime checks previously used for cross-program runtime checks. This means applications can run faster, and smoother, and handle larger volumes of traffic by improving compatibility between programming languages.
Building on new ecosystems is exactly MNTD. was created by RAKwireless to do. We are developing 5G capable devices, an extensive array of sensors, modules, and a variety of GUIs and APIs to enhance our user's experience. Helium stands to be the foundation of an all new sector of growth propelling wireless technology and data ownership into the future, and we continue to make our mark and establish MNTD. as a fixture in the ecosystem. Be sure to follow us on Twitter to stay informed on releases, news, and more.