What is helium (HNT) and ‘decentralized internet’?

What is helium (HNT) and ‘decentralized internet’?

Helium (HNT) is a decentralized wireless connection platform for devices that work with the Internet of Things and with cryptocurrencies.

Some cryptocurrency projects have “traditional utility” Solve the “out of the crypto world” problemFinds helium Improving the communication capabilities of Internet of Things (IoT) devices.

The nickname “The People’s Network”, literally translated as “People’s Network”, is the purpose of the project. Create efficient and efficient IoT for the future.

By promoting the creation of decentralized wireless networks, blockchain includes helium device owners and stakeholders in the IoT industry, the original HNT token that powers the network and acts as a payment.

Therefore, it is possible Make money by installing hotspots to deliver internet signals Range so that anyone can connect via Helium LongFi.

As the Internet of Things grows, helium becomes a more relevant project.

Learn more about helium and its decentralized Internet.

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What is helium (HNT)?

Helium is a decentralized, blockchain-based wireless network that connects devices operating with the “Internet of Things”.

The network is made up of devices called Helium hotspots (Helium access points) which can Send data over long distances with low power consumption.

This entry point Share their owners’ broadband with nearby Internet-connected devices And the range can be 200 times higher than a traditional Wi-Fi hotspot.

Each helium hotspot costs about $ 500.

By deploying a simple device in your home or office, as well as providing miles of low-power network coverage for the equipment, To do this we get cryptocurrencyKnown as HNT.

Currently, there are over 500,000 helium hotspots in use worldwide, with thousands being added to the network every day.

Founder of Helium

Helium started as a regular company in 2013 and entered the crypto space in 2019.

Initially, its founders, Amir Halim, Sean Fanning and Sean Kerry, tried to build a long-range point-to-point wireless network in the traditional way. That same year, there were only 14,000 nodes (network connection points).

But due to difficulties in getting enough participants, the network ran out of cash, until 2017, when one engineer suggested that if they could get cryptocurrency by doing so, they would get more people willing to set up hotspots.

In 2019, the new model was launched and it was a success. Currently, connections total more than 680,000 nodes, an increase of 4,757% in just under ten years.

The project has received funding to become the world’s first “decentralized Internet”, with $ 200 million from Tiger Global and a16z to be reinvested in network security.

The Helium team is made up of members who, according to the company, have experience in “radio and hardware, manufacturing, distribution systems and end-to-end and blockchain technology.”

Of the three co-founders, Amir Halim has an active history of eSports and gaming development.

Sean Fanning is best known for developing the music-sharing service Napster, one of the first peer-to-peer (P2P) Internet service networks in the late 1990’s.

And before Helium, Sean Kerry played a number of roles as a developer, including buying from advertising optimization company Ware, PayPal.

How does helium work?

Helium allows low-power wireless devices to communicate with each other and send data over a network of nodes.

Nodes come in the form of so-called hotspots, a combination of wireless gateways and blockchain mining devices.

Each access point provides miles of wireless network coverage to millions of devices around it using helium longfy.

By hosting Hotspots and managing us, users Get rewards in the original cryptocurrency From helium, HNT token.

The company has several models of licensed hotspots that can be purchased on the Internet from the official Helium website. Their average price is 600.

Uses helium blockchain Consensus mechanism Desired call Proof of coverage (PoC).

It is based on the HoneyBadger BFT protocol, which allows nodes in a network to reach a consensus when the quality of the connection varies greatly.

This system consumes much less energy than the “proof of work” algorithm used by Bitcoin and other cryptocurrencies.

According to Helium, its hotspots use approximately as much energy as a 5-watt bulb.

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Helium token (HNT)

HNT is Helium’s original token, which is required to connect to the wireless Internet and to provide hotspots and reward hotspots for network authentication.

Although mined to reward new HNT hotspots, in this burn-and-token model, the points needed to be able to use the helium network are balanced against the burned HNT to generate data credits (DCs). Mint balance.

The maximum supply of HNT is 223 million units and its mining is halved, this process increases its difficulty every two years and ensures that the total supply never exceeds the maximum number.

HNT price history

By the end of January 2021, the price of the HNT token remained below $ 2.

Then, in November 2021, the price peaked at a high of over $ 53.

Since then, it has been fluctuating and declining, with a loss of 32.5% accumulated in 2022.

However, in 2021 alone, this cryptocurrency has increased by 2,825.3%, according to the crypto rank.

At the time of writing, HNT is trading at 8.89.

HNT token price changes last year
HNT token price changes last year. Source: Crypto.com

Is helium (HNT) right?

The helium network seeks to solve problems not related to the cryptocurrency world.

Connecting equipment to the helium network is much cheaper, and long-range hotspots can reach places where traditional Wi-Fi and cellular networks cannot.

With this in mind, the transition between Web 2.0 and Web 3.0, known as the new generation of the Internet, could awaken the potential of new digital tools.

Therefore, many analysts are enthusiastic about helium (HNT).

The value of helium depends on its usefulness, technical capability, project relevance and technology, and all its usefulness depends directly on its HNT token.

Therefore, those who want to enjoy the benefits must earn HNT by adding new entry points or by participating in HNT transactions and tokens on cryptocurrency exchanges.

However, before investing, analyze and evaluate your own risk of cryptocurrency, taking into account your investment strategy and investor profile.

Personal review is the surest way to find out if HNT is good for you.

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