Helium (HNT) is a blockchain-based decentralized network for Internet of Things (IoT) devices.
The Helium Mainnet, which was launched in July 2019, lets low-powered wireless devices can interact with one another and transfer data over its network of nodes. It gives low-power Internet of Things (IoT) devices wireless connectivity while also earning a new cryptocurrency called Helium from the customers’ living rooms. Hotspot Owners, Helium Inc., and Investors receive HNT once it is mined. Helium utilizes a “Proof-of-Coverage” (PoC) method to ensure that Hotspots are placed where they claim to be (as determined by the assert location transaction when they are first deployed). On January 1st, 2021, the monthly net HNT issuance will be decreased to 2.5 million HNT. The distribution of HNT varies over time in order to align incentives with the network’s requirements. A greater amount of HNT is provided to Hotspot owners in the early days for establishing and ensuring coverage.
On major cryptocurrency exchanges, one Helium (HNT) is now worth $12.89. One Helium can be exchanged for 0.00037217 bitcoin(s). In US dollars, the total worth (or market capitalization) of all accessible Helium is $1.15 billion.
Helium is a proof-of-stake (PoS) currency, which implies that blocks on the Helium blockchain are not mined using Bitcoin-style hashing algorithms. Rather, coins are acquired through “staking” or running a master node on the network.
Helium seeks to increase the wireless Internet of Things (IoT) devices’ communication capability. In 2013, IoT infrastructure was still in its early stages, but developers intended to add decentralization to their offering, thus it was dubbed “The People’s Network” in official documentation.
Its primary target audience will be device owners and IoT enthusiasts, with financial incentives offering additional outreach opportunities. Participants in the network can buy or create their own Hotspots, which are a mix of a wireless gateway and a miner. Each hotspot offers network coverage over a specific radius while also mining HNT, Helium’s native coin.
Proof-of-coverage is a novel consensus technique based on the HoneyBadger BFT protocol that allows network nodes to establish consensus while connection quality is extremely variable.
Users also pay transaction costs in a different currency called Data Credits, which are not exchangeable and are connected to specific users.
HNT might be a successful investment choice if you are seeking for virtual currencies with a high return. At 2021-05-11, the price of helium was 16.463 USD. If you buy Helium today for $100, you will receive a total of 6.074 HNT.