Helium (HNT) is a decentralized blockchain-powered network for the Internet of Things (IoT) devices.
Launched in July 2019, the Helium mainnet allows low-powered wireless devices to communicate with each other and send data across its network of nodes.
Helium aims to improve the communication capabilities of wireless Internet of Things (IoT) devices. In 2013, infrastructure around IoT was still in its infancy, but developers wanted to add decentralization to their offering, hence referring to it as “The People’s Network” in official literature.
Its core appeal will be to device owners and those interested in the IoT space, with financial incentives providing further outreach possibilities.
Network participants purchase Hotspots — a combination of a wireless gateway and a miner — or build their own. Each hotspot provides network coverage over a certain radius and also mines Helium’s native token, HNT.
How Does It Work?
What underpins Helium is a series of Hotspots retailing for $495USD. These create an open-sourced P2P long-range wireless network. You could consider each hotspot a node or gateway. Hotspots enable internet connectivity for low-power devices like those embedded with sensors to measure temperature, humidity, pressure or location, without needing Wi-Fi or cellular connectivity.
Helium’s open wireless protocol is 200 times the range of Wi-Fi at 1/1000th of the cost of a cellular modem. It offers massive competition to cellular networks. Unlike cellular, there’s no need to pay for sim cards, worry about data caps, or overage fee charges.
Tandem move, Helium’s community governance organisation – The Decentralised Wireless Foundation – has joined an international alliance of LoRaWAN internet providers working together to deliver mass adoption.
Helium internet node operators now collectively mine more than $550m in the native HNT token annually.
In its next move, aiming at aggressively expanding coverage and capturing more traffic, Helium – known as the People’s Network – will integrate with a new partner.
Senet specialises in facilitating global connectivity and on-demand network build-outs for the Internet of Things (IoT).
It will enable serious profits for HNT‘s community of decentralised providers/miners to reap rewards through increased traffic and more proof of coverage challenges.
Ultimately, this will allow asset tracking, logistics and supply chain monitoring, environmental monitoring, and smart city services.
If you would like to know where to buy Helium, the top exchanges for trading in Helium are currently Binance, Mandala Exchange, FTX, ZT, and Gate.io. You can find others listed on our crypto exchanges page
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