Helium (HNT)
What Is Helium (HNT)?
Helium (HNT) is a decentralized blockchain-powered network for Internet of Things (IoT) devices. Launched in July 2019, the Helium mainnet allows low-powered wireless devices to communicate with each other and send data across its network of nodes. Nodes come in the form of so-called Hotspots, which are a combination of a wireless gateway and a blockchain mining device. Users who operate nodes thus mine and earn rewards in Helium’s native cryptocurrency token, HNT. Helium’s goal is to prepare IoT communication for the future, identifying inadequacies in current infrastructure from its birth in 2013.
Who Are The Founders Of Helium?
Helium’s three co-founders Amir Haleem, Shawn Fanning and Sean Carey started the company in 2013. Haleem has an active eSports and game development background. Fanning, by contrast, is well known for developing Napster, the music sharing service which was one of the first mainstream peer-to-peer (P2P) internet services in the late 1990s. Carey meanwhile held multiple development roles prior to Helium, which included advertising optimization firm Where, acquired by PayPal. Helium’s team now consists of members which the company says have experience in “radio and hardware, manufacturing, distributed systems, peer-to-peer and blockchain technologies.”
What Makes Helium Unique?
Helium aims to improve the communication capabilities of wireless Internet of Things (IoT) devices. In 2013, infrastructure around IoT was still in its infancy, but developers wanted to add decentralization to their offering, hence referring to it as “The People’s Network” in official literature. Its core appeal will be to device owners and those interested in the IoT space, with financial incentives providing further outreach possibilities. Network participants purchase Hotspots — a combination of a wireless gateway and a miner — or build their own. Each hotspot provides network coverage over a certain radius, and also mines Helium’s native token, HNT. The network runs on proof-of-coverage, a new consensus algorithm based on the HoneyBadger BFT protocol which allows nodes in a network to reach consensus when connection quality is highly variable. In addition to HNT, users pay transaction fees in a separate token called Data Credits, which are not exchangeable and tied to individual users themselves.
How Many Helium (HNT) Coins Are There in Circulation?
Approximate mining periods of 30 to 60 minutes unlock rewards which are distributed according to a changing growth plan. Helium explains that at the start, node owners will accrue more HNT for building out network infrastructure, while later on, it will be more advantageous to transfer device data. This adjustment mechanism for token distribution is expected to last for around 20 years. As of the start of October 2020, there are 48,712,218 HNT in circulation. When the token launched, the supply was zero, with no premine.
How Is the Helium Network Secured?
Helium uses a bespoke consensus mechanism called proof-of-coverage (PoC) which rewards users for contributing to mining (validating transactions) and ensuring stability. PoC is based on the HoneyBadger BFT protocol, which is specifically designed for node communication when conditions are unreliable. Helium says that the most likely attack vector impacts node operators in the form of inbound ports of Hotspots. For token holders, the platform’s own wallet uses asymmetric keys to help users with private key security.
Where Can You Buy Helium (HNT)?
HNT is a tradable token spreading across major exchanges as of October 2020. Major pairs are active on Binance , and include USD and stablecoins such as Tether (USDT). New to crypto? Check out our easy guide to buying Bitcoin (BTC) or any other cryptocurrency.
What tools does Nimbus offer for effortlessly monitoring Helium?
Nimbus provides a user-friendly tracking solution equipped with intuitive tools to monitor Helium effortlessly. These tools are specifically designed for user convenience, allowing individuals to stay seamlessly updated on the latest trends, prices, and information related to Helium. Users can also explore the world of cryptocurrency effortlessly while simultaneously tracking Helium prices. The platform also offers insights into profit and loss, providing a comprehensive experience without the complexity typically associated with monitoring cryptocurrencies.
How does Nimbus enable tracking Helium prices with profit and loss?
Nimbus facilitates the tracking of Helium prices with profit and loss through seamless integration with your crypto wallet for portfolio monitoring. By connecting with your crypto wallet, Nimbus provides a clear and comprehensive overview of various metrics, including profits, losses, revenue, expenses, return on investment (ROI), and other essential financial indicators. This integration ensures that users can analyze their cryptocurrency portfolio with precision, gaining valuable insights into their financial performance. With Nimbus, users can navigate the cryptocurrency landscape with a perfect blend of simplicity and sophistication, enhancing their ability to make informed investment decisions.
How does Nimbus analyze Helium, and what insights does it provide?
Certainly! Nimbus possesses a robust analysis tool that is adept at evaluating and interpreting Helium . The tool employs diverse strategies, including delving into metadata details, tracking marketplace data, and calculating performance metrics such as Return on Investment (ROI). Through these methodologies, Nimbus provides users with valuable insights into the composition and performance of their Helium. Users can gain a comprehensive understanding of their investment. The analysis tool ensures that users are equipped with the necessary information to navigate the cryptocurrency landscape with confidence and intelligence.
Trending News
Bitcoin (BTC) Downtrend Leaves 7 Million Wallets in Financial Distress: A Deep Dive into Crypto Market Dynamics
Before you reading,Don't miss coins like PEPE again! Click here to find new PEPEs! Bitcoin, the leading cryptocurrency, has experienced a significant price surge, reaching a new all-time high. Experts attribute this growth to increased institutional adoption and the growing popularity of decentralized finance (DeFi). “Bitcoin’s recent surge is a clear indication of the increasing […] Read more at COINOTAG.
CoinOtag EN
May 14, 2024
AI Boost Propels Broadcom (AVGO) Towards Buy Point: Today’s Top IBD Stock
Before you reading,Don't miss coins like PEPE again! Click here to find new PEPEs! Broadcom (AVGO) is gaining momentum in the stock market, driven by the growing trend of artificial intelligence. The company is also nearing a buy point. The California-based company provides an alternative to Nvidia’s market-leading AI chips by offering custom application-specific integrated […] Read more at COINOTAG.
CoinOtag EN
May 14, 2024
Bitcoin Sees Significant Market Shift
Following the anticipated halving event, the Bitcoin market has experienced a series of critical price movements. Initially, a price surge was expected; however, the market subsequently faced a steep decline.
BH NEWS
May 14, 2024
China Shuts Down $295M Crypto Bank Featuring Bitcoin (BTC): Is This the Start of a Larger Cryptocurrency Crackdown?
Before you reading,Don't miss coins like PEPE again! Click here to find new PEPEs! Chinese law enforcement has disrupted a covert banking network that leveraged cryptocurrencies to execute unauthorized foreign exchange transactions totaling around 2.14 billion yuan ($295.8 million). This illicit operation mainly converted the Chinese yuan into the South Korean won, evading the established […] Read more at COINOTAG.
CoinOtag EN
May 14, 2024
Significant Price Movements in the Bitcoin Market
Expectations of a price surge post-halving turned into a deep decline. Despite the decline, optimism and detailed analyses by experts continue.
COINTURK NEWS
May 14, 2024
HNT Market Statistics
Price USD
$4.76Market Cap
$766,135,476.85Total Volume USD
$10,399,397.70Total Supply
160,875,441.82 HNTCirculating Supply
160,875,441.82 HNTFully Diluted Market Cap
$1,061,990,627.04Socials
Official links
Join us to Maximize your Returns & Minimize your Risk
Gain access to all exclusive data, insight that can make your investment more joy
