Helium (HNT)

The Helium network is a decentralized wireless network.

Internet of Things (IoT) is a multi-trillion dollar industry, with billions of connected devices. For proper functioning, most IoT devices need to be connected to the Internet. The conventional technologies for this (cellular, WiFi, and Bluetooth) are expensive, power-hungry, or have a limited range.

The Helium network is a decentralized wireless network. It enables IoT devices to wirelessly connect to the Internet and geolocate themselves without satellite location hardware or cellular plans.

The Helium network is powered by a blockchain whose native token is HNT.

HNT incentivizes a two-sided marketplace between coverage providers and consumers.

Hotspots are a combination of a wireless gateway and a miner and provide network coverage over a certain radius. Hotspots also mine HNT. Helium runs on the Proof of Coverage consensus algorithm.

In the Helium ecosystem:

  1. Devices pay to send & receive data to the Internet and geolocate themselves.
  2. Miners earn tokens for providing network coverage.
  3. Miners earn fees from transactions, and for validating the integrity of the network.

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