HeliumPrice

(HNT)

Helium (HNT) is a decentralized wireless network project that uses blockchain technology to create an open and accessible infrastructure for wireless connectivity. The network's primary focus is to provide coverage for Internet of Things (IoT) devices, and it has also expanded to include 5G services. The Helium network operates through a global system of physical devices called Hotspots. These Hotspots are owned and operated by individuals, who act as contributors to the network. By deploying these Hotspots in their homes or businesses, users provide wireless coverage and help relay data. In return for their participation and for providing network coverage, Hotspot owners are rewarded with HNT tokens. HNT is the native cryptocurrency of the Helium network. It serves several purposes within the ecosystem. HNT is used to incentivize Hotspot hosts for building and maintaining network coverage. Additionally, HNT is utilized to pay for network usage through a mechanism involving Data Credits. Data Credits are a utility token that are created by burning HNT, and they are used to cover transaction fees for wireless data transmissions on the network. This burn and mint equilibrium model is designed to align the supply of HNT with network usage. Helium employs a unique consensus mechanism called Proof-of-Coverage (PoC). This mechanism verifies that Hotspots are genuinely providing wireless coverage and are located where they claim to be, ensuring the integrity and reliability of the network. The project was founded in 2013 and officially launched its network in 2019. Initially, Helium's IoT network primarily used LoRaWAN technology for low-power, long-range communication between devices. In 2023, the Helium network migrated from its own proprietary blockchain to the Solana blockchain. This transition was undertaken to improve scalability, reduce transaction costs, and enable faster development of new features. The overall vision of Helium is to democratize access to wireless infrastructure, moving away from traditional telecom models by empowering individuals to build and operate a community-driven wireless network. Learn more

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