I. What is Helium?
Helium is a decentralized peer to peer wireless network (Decentralized Wireless Network) built on the blockchain platform. It works on Proof of Coverage and a new consensus algorithm based on HoneyBadger BFT. Helium is used to route data for low-power long-range IoT (Internet of Things) devices.
Helium’s technology allows anyone to build cost-effective, secure, wireless infrastructures of low-power electronic devices that can send data from the Internet or to the Internet. Helium is used to route data for low-power long-range IoT (Internet of Things) devices.
II. History of Helium
Helium project started to be implemented in 2013 by 3 co-founders:
- Haleem (CEO): is a person with a background in game development and eSports with many positions such as CTO at Diversion, original member of Battlefield, former world champion gamer in eSports, co-founder establish esreality.com.
- Marc Nijdam (CTO): a person with over 25 years of experience in the technology field. His background includes commercialization research at Hewlett-Packard, leading the technology and teams behind several Qualcomm products and services. Marc is responsible for product and software design, scalability and resilience, and leads the development team.
- Carey (COO): responsible for sales, marketing and business development for the company. Prior to Helium, Mong spent 20 years in cybersecurity, including CMO at Hortonworks, SVP Marketing at Palo Alto Networks and VP/GM of security at HP.
III. Striking Features of Helium
Anyone can create affordable, safe wireless infrastructures of low-power electrical devices that can send data to or from the Internet using Helium’s technology.
The qualities of helium include:
- Helium Hotspot: A cheap piece of hardware that acts as both a wireless access point and a miner for the Helium blockchain.
- Proof of Coverage: Radio waves are used by a mining method called proof of coverage to confirm network coverage.
- LongFi: Any LoRaWAN device can transfer data over the network thanks to LongFi, which combines the Helium blockchain and the Long Rang Wide Area Network (LoRaWAN) wireless protocol.
The Helium Network was created with the role of improving the communication capabilities of IoT (Internet of Things) wireless devices. Aiming to replace Wifi network in a decentralized way, the Helium development team is building “The People’s Network”.
Its primary target audience will be device owners and IoT enthusiasts, with financial incentives expanding its appeal.
Network users can either purchase Hotspots, which combine Wireless Gateways and Miners, or construct their own hotspots. Each Hotspot offers network coverage within a particular range and is also utilized for HNT coin mining.
The HoneyBadger BFT protocol is the basis for the Proof-of-Coverage algorithm, a new consensus process that enables network nodes to come to consensus even when the connection quality varies.
Users can also pay transaction costs with a private token called Data Credits, which is non-exchangeable and tied to specific users, in addition to HNT.
IV. Core Technology of Helium
The main technologies that Helium (HNT) is using:
- Proof-of-Coverage (POC): Unlike POW or POS algorithms, Helium network is built with a new work algorithm called “Proof-of-Coverage”, the purpose is to verify that Hotspots ( Hotspot) is located where they claim, i.e. the location of the Hotspots along with the wireless network coverage generated by the Hotspots must be correct.
- Helium Consensus Protocol: The consensus algorithm Helium Consensus Protocol was developed with the purposes of: helping to maintain the decentralization of the network, allowing qualified Hotspots to participate in the network, increasing the speed of transaction processing. translation, transaction censorship (Hotspot cannot censor or select/deselect transactions included in a block).
- HoneyBadger BFT: is an asynchronous atomic broadcast protocol designed to allow a group of known nodes to reach consensus over untrusted links. This algorithm is used to support the transaction anti-censorship feature above.
- LoRaWAN: is a low-power, wide area network protocol built on top of the LoRa radio modulation technique. It wirelessly connects devices to the internet and manages the communication between end-node devices and network gateways.
V. What is HNT Token?
1. Detailed Information about HNT Token
Key Metrics HNT
- Token Name: HNT Token
- Ticker: HNT
- Blockchain: Helium Blockchain
- Token Standard: update
- Contract: Updating
- Token Type: Native
- Total Supply: Not fixed
- Circulating Supply: 45,159,766 HNT
2. HNT Token Allocation
HNT is distributed in three different areas, namely:
- Network data transmission (30%) – HNT reports that the code is spread when transmitting packets over the internet.
- Hotspot infrastructure (35%) – 35% of HNT token tokens are rewarded for the work of participating in and developing the Proof-of-Coverage (PoC) test.
- Helium Inc. and Investors (35%) – 35% of token tokens are secured and passed on to founders, investors and institutions who will manage the blockchain.
3. HNT Token Noticeable Milestones
Token sale
Although there is no information about the token sale of HNT, besides that, Helium Security Token (HST) was sold to investors between 2014 and 2020. Since then, the project has raised a total of 55M USD.
HST holders can receive up to 34% of the total mining reward.
4. Use Cases of HNT Token
HNT, the native coin of the Helium blockchain, has two main functions.
- Mining rewards: Hotspot earns HNT through data transport and network infrastructure construction and security.
- Payment for network services: is made using the HNT tokens used to earn Data Credits (which includes delivering data over the Helium network and converting Helium tokens).
VI. How to earn & own HNT?
Currently, becoming a Hotspot can earn you HNT tokens. The hotspot is required to transmit evidence of wireless coverage at a place and time that can be securely confirmed. The Hotspot’s level of coverage and the amount of LongFi Sensor Data it transmits to the network’s devices will determine how much HNT is awarded.
HNT can also be purchased directly from the exchange that listed it.
You can choose from a number of HNT coin exchanges, including Binance, Gate.io, Crypto.com Exchange, FTX, and Coin EX.
Binance, the most popular cryptocurrency exchange in the world today with high liquidity and a solid reputation, is widely used.
VII. Which Crypto Wallets are suitable for HNT?
When not connected to other wallets like Trust Wallet, Trezor, Edge, Atomic wallet, Math Wallet, etc., HNT token can only currently be saved in Ledger wallet, which is quite limited for traders.
Your tokens will be stored in a cold wallet called a ledger that looks like a USB drive. If you lose this wallet, your money will always follow it, so be sure to keep it safe.
VIII. HNT Recent Developments
- Q3 2020:
Release Miner Pro, allowing any LoRaWAN gateway to join the Helium network.
- Q4 2020:
Release of Google Cloud Platform and Microsoft Azure integration.
Released libp2p implementation improvements including migration to Kademlia Distributed Hash table
Release updates to the PoC algorithm, including staking.
Integrated wireless technologies including Wifi 6 and 5G/LTE.
IX. Teams, Funds & Partners of HNT
1. Team
2. Investment Funds
3. Partners
- Nestle ReadyRefresh: One of the first customers to test a Helium network for water monitoring in Connecticut.
- Agulus: Agulus uses the Helium network to automate water distribution based on wireless sensors connected to Helium Hotspots.
- Lime: A global bike and scooter sharing service, Lime uses the Helium network to find lost bikes and scooters.
- Conserv: Connects to the Helium network to provide information about the artwork.
- Careband: Provides consumers with a wireless wearable device to monitor the location and temperature of individuals working in hospital or office environments to help track COVID-related contacts. Careband is using the Helium network to track the location of wearable devices.
- BCycle: Offers bike-sharing in the United States. BCycle is using the Helium network for bike tracking.
X. Where can HNT information be updated?
Currently, Crypto users can fully consult, research, and analyze information about HNT through famous media newspapers such as Nasdaq, Bloomberg, Forbes, AP News, Yahoo!Finance, CoinTelegraph, Coindesk, etc.
These media are constantly updated with useful information, new activities, outstanding events of HNT, and all the topics surrounding it. Accordingly, Meta Lion Ventures continuously updates the topic of outstanding projects in Blockchain and hot events organized between Meta Lion & partners.
XI. FAQs about Helium
- The future of the Helium project, should invest in HNT token?
Low-power wireless devices can communicate with one another and send data across Helium’s network of nodes using its decentralized, blockchain-based network. As the fundamentals for the network continue, the value of Helium’s token, HNT, has grown by 550% since July 2020, from $0.35 to a 2021 high of $2.25 on January 25. improved.
Three reasons why HNT is ready for continuous growth are:
- The growing size and coverage of its node network.
- Nodes in the system can easily earn extra passive income.
- The number of partners with whom Helium has cooperated is increasing.
- How to convert HNT to fiat currency?
HNT may be converted to fiat money easily. You must tokenize your HNT token from your wallet to an HNT exchange that supports trading before selling it in relation to fiat currencies like USD and EUR in order to convert cryptocurrency to fiat money.
On cryptocurrency exchanges like Binance, Binance US, or crypto.com, you can sell HNT tokens. The following value represents the most significant trade in the market and the most reliable traders in the sector.
- Is HNT mining risky?
No, mining HNT has almost zero risk. In its early stages of growth, Helium Network faces off against established telecom providers.
As this network is just getting started and the future is uncertain, there are many obstacles in the way of its success. HNT may be very risky, and blockchain cryptocurrencies are very quickly volatile. After researching every facet of this network, you can make informed investments.
Conclusion
In conclusion, Helium (HNT) is a decentralized wifi network project, created with the aim of providing network access anytime, anywhere with the most competitive price. HNT is the native token of Helium. You can mine HNT by making Hotspots available to the network and receiving rewards. The price of HNT has been steadily rising over time, and these astounding data demonstrate that HNT has potential as a long-term investment due to the growing use of Blockchain technology. However, the cost of HNT also varies in accordance with the cost of Bitcoin and the market for virtual currencies in general. Whether or not a person decides to invest in HNT coin is entirely up to them. You can put aside a tiny portion of your available funds if you think this initiative will succeed and wait for luck.
The above is Meta Lion’s comment on the Helium project which is our personal opinion, this is not investment advice at all. Investors should be responsible for their own decisions.
