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helium
Helium is a Solana decentralized wireless network providing IoT connectivity with crypto rewards.
Helium Network
What is Helium Network?
The Helium Network is a decentralized wireless infrastructure that offers connectivity for IoT (Internet of Things) devices globally. It operates through a network of hotspots, which combine a wireless gateway with a blockchain mining device to provide long-range wireless coverage for LoRaWAN-enabled devices. In return, these hotspots earn Helium's native cryptocurrency, HNT, for offering and verifying network coverage. The Helium Network is unique as it allows individuals to easily deploy hotspots, thus becoming network operators who earn incentives for providing genuine wireless coverage. This has led to its rapid expansion, making it one of the largest LoRaWAN public networks with over 900,000 hotspots globally as of early 2023.
What does Helium Network do?
The Helium Network functions as a decentralized wireless network designed to provide connectivity for IoT devices across the globe. By using a community of deployed hotspots, Helium creates a long-range wireless infrastructure capable of supporting LoRaWAN-enabled IoT devices. These hotspots function as both a wireless gateway and a blockchain mining device, enabling them to earn Helium's native cryptocurrency, HNT, for delivering and verifying wireless coverage. A novel consensus algorithm, Proof-of-Coverage (PoC), is used to confirm that these hotspots indeed supply genuine coverage. The network's migration to the Solana blockchain enhances its scalability and speed, leveraging Solana's capabilities to manage the large volume of network transactions and PoC verifications.
Why is Helium Network unique?
The Helium Network is special because it revolutionizes wireless connectivity through a decentralized model supported by blockchain technology. Here are key aspects that make it unique: 1. Decentralized Coverage: Individuals and businesses are incentivized to deploy Helium hotspots, which serve as nodes providing LoRaWAN and 5G coverage. This model enables the creation of a vast wireless infrastructure without reliance on centralized telecom operators. 2. Proof-of-Coverage System: Helium employs a novel Proof-of-Coverage (PoC) consensus mechanism. It verifies that hotspots are offering legitimate wireless coverage, thereby ensuring the integrity and reliability of the network. 3. Scalable and Cost-effective: With its migration to Solana blockchain, Helium harnesses high transaction speeds and low fees which enhance its scalability and maintain cost-effectiveness in operating the network. 4. Ecosystem Growth: The Helium ecosystem includes a variety of stakeholders—from hotspot operators to device manufacturers—all collaborating to expand the network and explore new IoT applications. 5. Wide Range of Applications: Helium supports diverse use cases in IoT, providing connectivity solutions for asset tracking, environmental monitoring, smart cities, agriculture, and utility management.
Pricing
The Helium Network is highly cost-effective due to its decentralized nature and provides a very low-cost data transfer service that is particularly attractive to startups and independent developers. For someone participating in the Helium Network by deploying a hotspot, the initial cost involves purchasing a Helium-compatible hotspot from an approved manufacturer, such as Bobcat, Rak, SenseCap, or Kerlink. These costs can vary depending on the manufacturer and the features of the hotspot. Additionally, there is a small fee paid in Data Credits (DC) for using the network, which is generated by burning Helium’s native cryptocurrency, HNT. This cost structure allows for flexibility and scalability as users only pay for the data they use.
