This is not talk of helium gas for balloons being released into space.
But about the cryptocurrency Helium (HNT) which posted an exceptional performance this year with a jump of up to over 4,735%, reaching an all -time high (ATH), $ 59.34 on November 7, 2021.
Helium Trivia (HNT)
Its establishment
Helium Company, Inc. was founded in July 2013 and the Helium network launched in 2019.
Introduced by Amir Haleem, Seam Carey, and Shawn Fanning.
Is a decentralized blockchain -based network developed specifically for Internet of Things (IoT) devices.
That means any device around the world can be connected to the internet wirelessly, including depending on satellite location and expensive cellular plans.
The technology
The Helium network consists of nodes known as ‘hotspots’ that are managed by node operators.
Node operators are among the HNT holders.
Network communities or node operators can have one of the important roles for Helium to function:
Challenger
Creates a network challenge for radio frequency verification that occurs once for every 240 blocks.
Transmitter
Accept the challenge from Challenger.
Witness
Confirm the challenge.
Node operators get HNT through hotspot creation and mining.
As of April 2021, hotspots have increased to around 25,000 from 7,000 hotspots in August 2020.
The rewards distributed depend on the role in the network.
Helium uses a consensus mechanism that allows the network to get 200 times wider coverage than WiFi connections with the IoT:
Proof of Coverage
Proof of Location
Helium Consensus Mechanism
WHIP
Helium DWN
The Helium Series has two types of coins:
HNT
Data Credits
Used to pay transaction costs.
Use of Helium networks
It offers the same services as 5G.
It is also responsible for expanding the availability of 5G services for IoT devices and smartphones operating on the US Band Citizens Radio Service (CBRS)
In planning to collaborate with mobile network operators and mobile service retailers interested in 5G.
The benefits of Helium to its users
The price is rising organically through the growth of hotspots at a cheap rate.
Ensure all communications on the blockchain have end-to-end encryption, suitable for private or sensitive conversations.
Coin HNT
The number of HNT coins is limited to 223 million.
At the time of writing the article, a total of 104.9 million HNTs are in the market.
The newly generated HNT is a reward for the node operator.
The same goes for burning to generate Data Credits.
The inflation rate decreases from time to time so that the total supply of HNT does not exceed 223 million.
Interested in investing in Helium (HNT)? Maybe you can already start ‘blowing’ capital into this asset while the price is still under $ 100.
