Helium

What is helium (HNT)?

HNT is Helium’s native coin, which a decentralized blockchain-based network that focuses on connecting low-power Internet of Things (IoT) devices. If you’re interested in the current price of helium, check out the HNT price chart above.

The Internet of Things (IoT) is a term used to refer to a network of physical things that are embedded with sensors, software, and other technologies to connect and exchange data with other systems and devices over the Internet.

Low-power wireless devices can communicate with each other and send data through the Helium mesh network. You can add any device that supports the LoRaWAN wireless protocol to the network.. LoRaWAN technology was designed specifically for wireless Internet of Things technologies as it offers much greater range than Wi-Fi or Bluetooth connections.

Helium uses a unique consensus mechanism called proof of coverage (PoC). This mechanism rewards users who confirm coverage by proving their location and connection to the network.

Honey Badger BFT multiparty computation the protocol, which is a component of the helium consensus protocol, serves as the basis for the PoC. HoneyBadger BFT allows nodes to reach consensus even when the connection quality is poor.

Network nodes are called “hot spots”. These access points combine a blockchain mining engine and a wireless gateway. Users can either purchase existing access points or develop new ones. Access points mine HNT tokens and offer a certain range of network coverage.

In fact, HNT coins are used as rewards for miners. Miners can then use the HNT coins to pay for Helium’s services or simply sell them.

In addition to HNT tokens, Helium also has Data Credits (DC). DC tokens are used to pay transaction fees and send data bytes using Helium LongFi. Unlike the HNT price, the DC value is fixed at $0.00001. Netizens can buy DCs from HNT holders or convert HNT to get them. Every HNT token converted to DC is burned.

Founders of Helium

Helium was founded by Sean Fanning, Sean CareyAnd Amir Halim in 2013. Before Helium, Shawn Fanning developed the popular P2P music sharing platform called Napster. Sean Carey worked at Where, an advertising optimization company. Amir Halim has experience in both game development and eSports. Thus, all three founders had quite different experiences before developing the Helium crypto project.

HNT Tokenomics

The HNT token was launched without pre-mining, which means the initial supply of HNT was zero. However, it started to grow as more and more users started mining HNT coins. The first HNT was mined on July 29, 2019.

In total, up to 5 million new HNT tokens can be mined every month. The maximum supply of Helium coins is 223 million. This limit means the asset is deflationary and the price of helium will rise as supply decreases due to combustion.

Helium is distributed among miners, investors and the Helium company itself at the end of each mining session., which usually happens every 30-60 minutes. Overall, 66% goes to the miners, with the remainder shared by investors and the Helium team.

Over the years, the price of helium has shown a tendency to follow market trends. In November 2021, around the time Bitcoin nearly reached the $70,000 threshold, HNT peaked at $55. Likewise, after the bear market in the summer of 2022, the price of helium has also declined.

If you are planning to purchase Helium tokens, please note that the price of Helium is subject to change. This is because the price of HNT is affected by the volatility of the overall cryptocurrency market and is heavily influenced by more established cryptocurrencies such as Bitcoin (BTC).