Decentralized finance (DeFi), has seen rapid popularity in recent years. DePin (Decentralized point-of-interest network) also saw significant growth. DePin networks make it possible to create and manage location-based services decentralized. DePin’s expansion will require a strong and scalable infrastructure for blockchain to enable it to grow. With Helium’s move in the near future and Hivemapper onboard, Solana may be the solution to this problem.
Helium, a crypto-based wireless network that connects IoT devices to the internet, has announced its intention to move to Solana in near future. This is significant as Helium, a leading player in the DePin market, has its network used by many location-based services. Helium’s move to Solana will give it a more robust and scalable infrastructure that can handle more transactions. Contributors will be able to participate in more networks, which is vital for the development of DePin.
Hivemapper is a decentralized mapping platform that is already available on Solana. Hivemapper can process large amounts of data quickly and receive real-time updates via Solana. This is critical for Hivemapper’s platform, which relies upon accurate and current mapping data.
Hivemapper and Helium both moved to Solana, a clear indication that DePin’s future is built on blockchain infrastructure. Solana’s high throughput, low transaction fees and affordability make it attractive for DePin network which requires quick and inexpensive transactions. DePin’s ability to scale Solana will allow it to grow further, opening up more opportunities for users and contributors.
Conclusion: The shift of Helium to Solana as well as the presence of Hivemapper in the blockchain infrastructure are both clear signs that Solana is the future for DePin. Solana’s robust and scalable infrastructure is allowing the entire DePin community to grow at an even faster rate. This will be a benefit to contributors and users as it makes it easier for them access location-based services and participate in multiple networks.