Helium Network
The Helium Network is a decentralized wireless Internet of Things network using the LoRaWAN system, tied to the cryptocurrency Helium Network Token (symbol HNT).[1] Nodes on the network are generally owned and placed by individuals in their homes or offices, and they are rewarded for their participation in the network in payments of HNT; based on this model, the company that manages it bills it as "The People's Network".[2] The network provides a service to companies and individuals that deploy pollution, temperature, humidity, location and a wide variety of other IoT sensor devices.[3][4] As of March 2022, the network consists of over 600,000 gateway hotspots.[5][6][2]
History
The Helium Network was begun by Helium, Inc. in 2013 as a network of LoRa gateway hotspots which could be deployed throughout an area by agreements with building owners, typically paid in conventional currency. In 2017, the company's funds were running low, so it switched to a new strategy: offering individuals payment in cryptocurrency to operate individually owned nodes in their homes or offices. Hotspot operators would also have a vote in the operation of the network.[1] This system was launched in 2019.[7]
Companies using the network have included Lime for its rental bikes and scooters, and Victor for its network-connected mousetraps.[1] DISH Network announced in 2021 that it was partnering with Helium for deployment of 5G network services.[8]
The growth of the network became constrained in 2021 by the availability of hardware capable of deploying it. Hotspots participating in the network can only be manufactured by companies approved by Helium, Inc. and the demand substantially exceeded the manufacturing capacity of these suppliers. With millions of devices back-ordered as of March 2022, purchasers sometimes had to wait months for delivery, and second-hand sales went for substantially more than the retail prices.[5]
In March 2022, Helium, Inc. rebranded itself as Nova Labs, transferring the Helium trademarks to the Decentralized Wireless Alliance, an organization run by members of the Helium-operating community, which renamed itself as the Helium Foundation.[9]
Helium Network Token
| Helium Network Token | |
|---|---|
| File:HeliumLogo.svg | |
| Development | |
| White paper | [1] |
| Website | helium.com |
Search Helium Network on Amazon.
The Helium Network Token is the cryptocurrency distributed to operators of Helium hotspots, validators, and other nodes on the Helium Network.[2] HNT is "mined" using a system called "Proof of Coverage", in which Helium routers transmit LoRa radio messages to other routers in their area, demonstrating that they are available to provide LoRaWAN services to IoT devices in their vicinity. For this reason, Helium hotspots are commonly referred to as "Helium miners".[7] Operators receive HNT for both "witnessing" other hotspots and for being "witnessed", as well as for transferring data.[7] Because of the much lower power requirements of these devices compared to those required for proof-of-work based mining, it has been described as a more environmentally responsible cryptocurrency.[1] HNT is not widely used or traded outside of the Helium Network, however.[8][10]
References
- ↑ 1.0 1.1 1.2 1.3 "Maybe There's a Use for Crypto After All". New York Times. 6 February 2022. Retrieved 20 March 2022.
- ↑ 2.0 2.1 2.2 "How blockchain is revolutionizing IoT". RCR Wireless. 14 March 2022. Retrieved 21 March 2022.
- ↑ "Startup contributes $1 million to attract tech talent to NWA". Axios. 4 March 2022. Retrieved 22 March 2022.
- ↑ "What is Web3?". New York Times. 6 February 2022. Retrieved 21 March 2022.
- ↑ 5.0 5.1 Ligon, Cheyenne (2022-03-02). "'The People's Network' Is Growing Fast, but Would-Be Miners Are Getting Left Behind". www.coindesk.com. Retrieved 2022-03-21.
- ↑ Arvinth (2022-03-18). "My Experience Mining Helium For Three Months, $1200 USD Passive Income". The Side Hustle Club. Retrieved 2022-03-21.
- ↑ 7.0 7.1 7.2 "Helium Network: Proof of Coverage & Helium Hotspots". Gemini. Retrieved 2022-03-22.
- ↑ 8.0 8.1 "Helium Network Passing Half-Million Hotspots Could Fire Up HNT Price". finance.yahoo.com. Retrieved 2022-03-22.
- ↑ "Helium Becomes Nova Labs After Raising $200M in Fresh Capital". finance.yahoo.com. Retrieved 2022-03-31.
- ↑ "The Helium Network: How 'The People's Network' is Trying to Change the Face of 5G". www.investorsobserver.com. Retrieved 2022-03-22.
External links
| Technology | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Consensus mechanisms | |||||||||||||||||
| Proof-of-work currencies |
| ||||||||||||||||
| Proof-of-stake currencies | |||||||||||||||||
| ERC-20 tokens | |||||||||||||||||
| Other currencies | |||||||||||||||||
| Related topics | |||||||||||||||||
Category:2018 establishments Category:Cryptocurrency projects Category:Currencies introduced in 2018
This article "Helium Network" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:Helium Network. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.
|
This page exists already on Wikipedia. |
