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Helium crypto price chart
What is HNT
Helium is a physical wireless network striving to create a distributed network of long-range hotspots, maintaining a blockchain-powered Internet of Things (IoT). It was built in 2013 by a team of three founders: Amir Haleem, Sean Carey, Shawn Fanning.
The Helium network stands out amongst other projects due to its organization. Helium uses special devices called LoRaWAN (Long Range Wide Area Network) Hotspots to create and maintain the distributed network. These hotspots can cover 200x more range than regular WiFi routers. Hotspots also function as miners of the HNT cryptocurrency and come in several different models, each model offering different benefits. The project uses a unique consensus algorithm, Proof of Coverage. Proof of Coverage confirms Hotspots’ whereabouts by taking advantage of radio frequency. HNT is earned once wireless coverage is validated and can be burned to create Data Credits, non-fungible tokens used to pay transaction fees within the network.
In May 2022, the Helium Network announced that its community passed HIP-51, a proposal within the Helium Improvement Proposal system. The proposal offers to evolve Helium into a network of networks that will expand the project’s reach and utilities.
Helium Q&A
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