Cryptocurrency exchange Coinbase announced in its announcement that it has added the Helium (HNT) altcoin to its roadmap to list.
Two other altcoins already on Coinbase's roadmap are also registered as VeChain (VET) and VeThor (VTHO).
Helium was launched in July 2019 by a team of veteran developers, including Shawn Fanning, founder of Napster, a leading music sharing service.
Helium aims to enhance the wireless communication capabilities of IoT devices by providing a low-cost, secure and scalable network powered by its native cryptocurrency token HNT.
HNT is generated by users who operate nodes called Hotspots, which are a combination of wireless gateway and blockchain mining appliance.
Hotspots provide coverage to the network and verify sensor data from IoT devices. HNT rewards are distributed according to a variable growth schedule that depends on the size and activity of the network.
Helium had decided to migrate its entire network to the Solana blockchain in September 2022, following a community-driven proposal called HIP70 – Scaling the Helium Network, which aims to take advantage of Solana's scalability, low transaction costs, and high performance features.
The transition was originally scheduled for Q4 2022, but was delayed to Q1 2023 due to technical and regulatory challenges. The transition process was successfully completed on April 18, 2023.
*Not investment advice.