“Can I get a witness?”- Anonymous
Helium is one of the most unique, and innovative blockchain projects out there; in addition they have one of the largest networks out there. Built with a focus on physical network connection, and decentralized IOT technology, Helium has become a force to be reckoned with. Decentralized network creation started here with the peoples network. People mine, people stake, and people benefit from this decentralized network. A lot of people ask; Why $HNT? Why Helium
How Did it All Start?
BitTorrent , and Napster served as the inspiration for this awesome project. Shawn, a creator of Napster, a platform seen as one of the first “peer-to-peer” networks that existed.The founders wanted to push open source blockchain forward, and so they began. Helium started back in 2013 with
Shawn Fanning, Amir Haleem, and Sean Carey, with a mission to make it easier to build decentralized connected devices.
Since then Helium’s network has exploded in growth. Helium, built as a physical blockchain network using physical nodes to create a wireless network for the future. The founders had realized modern physical networks are not set up for a decentralized internet, and next generation devices. The Helium Network is here, and it is revolutionizing the physical networking, and blockchain world for the better.
How Does It Work?
Helium works using a consensus process called Proof-of-Coverage consensus to process, and verify transactions. IoT node devices called Hotspots can access the network using Helium’s LongFi Protocol. These nodes earn $HNT tokens as rewards for providing strong signals, completing transactions, and powering the network infrastructure.
Hotspot devices have two functions here: first they are wireless gateways, then they are miners. Each device provides a certain radius of coverage. As the network grows, so does the quality of coverage. $HNT also has staking, and use capabilities across the network users can benefit from outside of hosting a node. Other examples of network connection include staking, hosting, and conducting business on the blockchain.
Why HNT? Why Helium?
Helium using Proof-Of-Coverage consensus has created a 5G network that Dish Network is utilizing to compete with big names in the telecom space. SalesForce, along with Kevin O’Leary see massive value in the technology Helium has laid forth; moreover Lime transportation uses the network to track their own infrastructure. Once the mainstream catches on to Data usage for devices Helium will be at the top of the list for competition. Their network features zero sim card required, no data caps, or overage fees.
To Conclude.
Helium is the right choice for the future of physical networking. Decentralization of telecommunications is in our opinion one of the next big leaps in blockchain. POC is one of the next generation consensus algorithms. We so excited for Helium’s continued growth, which a big first for Web 3 infrastructure. Having a cell tower built over several thousand privately owned nodes sounds way better than centralized systems we have now. The answer to Why HNT? Why Helium? is pretty clear.
