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
Chainlink (LINK) İçin Boğa Atılımı: $16 Direncinin Ardından $37.278’e Potansiyel Yükseliş Yakın
Chainlink’in fiyat hareketi, simetrik üçgen formasyonundan potansiyel bir yükseliş kırılması olabileceğine işaret ediyor. $16 direnç seviyesinin kırılması, önemli bir fiyat artışına yol açabilir. Kripto analisti Ali, 4 saatlik grafikte bir alım sinyaline dikkat çekerek yükseliş hissiyatını güçlendirdi. Chainlink’in simetrik üçgen formasyonu, önemli direnç seviyelerinin aşılması durumunda potansiyel bir yükseliş kırılmasına işaret ediyor. Chainlink’in Simetrik Üçgen […]
CoinOTag
Jul 27, 2024
Chainlink (LINK) Eyes Bullish Breakout: Potential Surge to $37.278 Imminent After $16 Resistance
Chainlink’s price action indicates a potential bullish breakout from its symmetrical triangle pattern. Breaking through the $16 resistance level could lead to a significant price hike. Crypto analyst Ali highlighted […]
CoinOtag EN
Jul 27, 2024
A 143% boost for Chainlink? Why the next few days are crucial for LINK
Can Chainlink break through $16.0 resistance? A symmetrical triangle pattern suggests a potential 143% surge.
AMBCrypto
Jul 27, 2024
Bunny Boom! MOONHOP Hops Past Dogecoin with Stunning 100x Gains; Hamster Kombat Readies Token Rollout!
Discover how MOONHOP's presale success and 100x ROI potential are outshining Dogecoin and Hamster Kombat in the meme coin market.
BlockchainReporter
Jul 27, 2024
Here is How Much XRP You Need to Make $1M if XRP Hits $150, $258, $305 and $403
Individuals looking to make $1 million from XRP via ambitious price points in the triple-digit range require a modest initial…
TheCryptoBasic
Jul 27, 2024
HNT Market Statistics
Price USD
$5.30Market Cap
$853,139,771.39Total Volume USD
$11,707,716.53Total Supply
160,875,441.82 HNTCirculating Supply
160,875,441.82 HNTFully Diluted Market Cap
$853,139,771.39Socials
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
