December 28, 2021

Know Crypto: Helium (HNT), The Link For Internet Of Things (IOT) Devices

 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.