Decentralized Physical Infrastructure (DePIN) and the Power of Solana
This chart is based on a snapshot taken on April 5, 2023 and based on a price of SOL at $21.14, MATIC at $1.14, and ETH at $1,909.45. Learn more here.
The Value of Minting an NFT for Each Hotspot
The hotspot-as-NFT provides data for developers to build programs on top of Helium, and enables Helium Foundation and the Helium community to create token-gated experiences. Additionally, the NFT acts as credentials for the hotspot and verifies its authenticity – all without a centralized service needed for verification.
Decentralized Physical Infrastructure (DePIN) Projects on Solana
Decentralized Physical Infrastructure (DePIN) projects built on Solana serve functions in the real world beyond just executing compute. These projects are unique, as the physical location of the infrastructure provides critical value to the network.
Solana as the Backbone for Helium
The Solana Foundation is proud that the Helium community chose to build its future on Solana. There are several key advantages to Solana serving as the backbone for Helium:
- Cost-effective connectivity: Community members benefit from the near-zero transaction costs of Solana.
- Focus: Helium’s community gets to stay laser-focused on their mission to develop “the people’s network”, not manage a layer 1 blockchain.
- Open-source ethos: Helium is built on open-source technology, and given that Solana has the second largest organic developer community in web3, there is clear overlap between ecosystems.
- Composable smart contracts in one global state: Helium developers will, for the first time, be able to write smart contracts that govern hotspots, sensors, and other devices on the network. At the same time, Solana developers will be able to pull in real-world data from Helium into their apps.
Expanding the Vision of Helium
The power of Solana is that it enables other entrepreneurs and innovators to expand the vision of their product and impact. It’s incredible to witness builders show off the advantages of Solana to people who haven’t yet experienced web3.
Conclusion
This is just the beginning of the Solana community and the Helium community coming together as one. With Solana as the backbone for Helium, the possibilities for DePIN projects are endless. Stay tuned for what comes next.
FAQs
Q: What is the cost of minting and storing compressed NFTs?
A: The costs associated with minting and storing compressed NFTs have been updated to clarify.
