Helium

What is Helium?

Helium is an innovative wireless network that operates in a decentralized and open manner, specifically designed for real-world applications. It utilizes a cutting-edge blockchain technology and introduces a unique approach called Proof of Coverage, along with a novel consensus algorithm based on HoneyBadger BFT. The primary purpose of the Helium Network is to efficiently transmit data for long-range, low-power Internet of Things (IoT) devices that are compatible with Helium's LongFi protocol.

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Recent Video Interview

Main points of the interview:

• Current focuses at Nova, highlighting Helium Mobile and 1663, their IoT division.
• Decentralized governance in the Helium ecosystem.
• Helium Mobile aims to enhance user experience and incentivize participation via discovery mapping.
• The impact of cost on network deployment and the importance of accessible hardware.

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History of Helium

Helium was established by Shawn Fanning, Amir Haleem, and Sean Carey, driven by the goal of simplifying the creation of connected devices. They recognized the insufficiency of existing wireless connectivity options for the next generation of machines. To address this challenge, they developed the Helium Hotspot—a unique combination of a physical blockchain node and a wireless gateway. Network participants can deploy these Hotspots to receive compensation in HNT, the native token of the Helium network.

Hotspots are required to provide proof of wireless coverage in a cryptographically verified location and time in order to receive rewards. Once the network is deployed, any sensor utilizing the Helium LongFi wireless protocol can connect to it. This network is specifically designed for battery-powered devices that need to transmit small amounts of data over long distances.

Hotspots earn HNT rewards based on the quality of coverage they offer and the volume of LongFi sensor data they transport for devices on the network. To facilitate all transaction fees within the network, HNT is burned to create Data Credits, which are non-fungible tokens. Data Credits are essential for activities such as sending sensor data and verifying Hotspot locations. Any IoT device equipped with LongFi capability can transmit data through any Helium Hotspot that provides coverage.

Helium is Building Beyond IoT

Helium's vision initially centered around IoT, but the increasing demand in the market served as evidence that the incentive model holds significant power in granting individuals and communities the ability to own and expand any type of network.

The design of Helium was specifically tailored for IoT devices and the LoRaWAN wireless protocol. However, with the community's endorsement of 5G and the subsequent development efforts, it became evident that each network protocol would necessitate a distinct design. This includes considerations such as the regions where they can operate, the implementation of Proof-of-Coverage systems, data transfer mechanisms, token rewards, and governance. Nevertheless, they all share a crucial similarity: the requirement to participate in the HNT economic system.

To facilitate the integration of any network protocol into the Helium ecosystem, the community put forth an innovative solution known as HIP 51.

HIP 51 serves as the blueprint that enables Helium and its community to fully realize their mission of decentralization and incentivization for the swift deployment of all future networks. It achieves this in two primary ways:

1. Utilizing HNT and Data Credits as the economic engine for all network protocols.

2. Expediting the inclusion and growth of new network protocols within the ecosystem by enabling their respective tokens, economic structures, and governance mechanisms.

Helium Project Development

A new chapter is dawning as the core developers of Helium announced the successful migration of the Helium blockchain to Solana. This upgrade marks the beginning of an era characterized by enhanced scalability, expansion, and reliability for the world's largest decentralized wireless network.

The migration of the Helium Network to Solana brings forth a multitude of advantages and opportunities. These include faster transaction speeds and the integration of advanced smart contract capabilities. With the removal of the need to maintain a layer-1 blockchain, the Helium Foundation and other contributing organizations can now allocate more resources towards their shared goals. This collective effort aims to accelerate the growth of decentralized wireless networks and introduce new applications that foster economic efficiencies and bridge the digital divide.

Helium Price Analysis

As of November 24 2024 Helium has a marketcap of $1.1B. This is {{percentagefromath}} from its all time high of $54.88. In terms of its tokenomics, there's a total supply of 223M with 77% currently outstanding. Keep in mind Helium has a fully diluted value of $1.4B which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.