Helium (HNT) Price

Key Components of the Helium Blockchain

• The Helium Network utilizes the Solana Blockchain as its underlying blockchain infrastructure, providing the necessary security, scalability, and decentralization.

• The HNT Token is the native token of the Helium Network, serving as an incentive for network participants and facilitating transactions.

• The LoRaWAN network employs the IOT Token, enabling low-power, wide-area network connectivity for Internet of Things (IoT) devices. Proof-of-Coverage (PoC) is involved in the LoRaWAN subnetwork.

• The 5G network uses the MOBILE Token, facilitating high-speed mobile connectivity and data transmission. PoC is employed in the 5G subnetwork.

• The Helium Network includes various types of network participants, such as Hotspot Owners, IoT Device Owners, Mobile Device Users, and Developers.

• The Helium Foundation is an organization that oversees the development and adoption of the Helium network.

Key features of the Helium platform also include its decentralized infrastructure, scalability and security provided by the Solana Blockchain, support for multiple use cases including IoT devices through the LoRaWAN network and high-speed mobile connectivity via the 5G network, and incentivized participation through a token-based system.

The Proof-of-Coverage (PoC) consensus algorithm is employed in both the LoRaWAN and 5G subnetworks to reward participants for verifying wireless network coverage.

How is the Helium Network Secured?

The Helium platform utilizes a combination of innovative blockchain technologies to ensure its security. Two key components that contribute to this are the Proof-of-Coverage (PoC) mechanism and the HoneyBadger BFT (Byzantine Fault Tolerance) protocol.

Proof-of-Coverage

Proof-of-Coverage (PoC) is Helium's unique consensus mechanism that rewards users for validating transactions and maintaining the network as nodes. It verifies that a certain device is genuinely providing wireless network coverage to a specific location. In this model, network participants, known as Hotspots, perform work by validating wireless coverage using radio signals. These Hotspots submit proof of this coverage to the blockchain.

Through continuous radio signal measurements and consensus algorithms, the network can determine the quality and reliability of coverage provided by each Hotspot. This mechanism incentivizes the deployment of Hotspots in areas with low wireless coverage, ensuring a robust and decentralized network.

HoneyBadger

In addition to PoC, the Helium Crypto Network relies on the HoneyBadger BFT protocol for consensus and fault tolerance. HoneyBadger BFT is a robust consensus algorithm designed to counter the Byzantine Generals' Problem, which addresses potential issues such as malicious actors or faulty nodes that may attempt to disrupt network operation. This protocol ensures that the network can reach a consensus even in the presence of these adversarial conditions.

By combining Proof-of-Coverage and the HoneyBadger BFT protocol, the Helium Crypto Network achieves a high level of security and reliability. The PoC mechanism ensures that network coverage is verified and incentivizes active participation, while the HoneyBadger BFT protocol ensures agreement on the state of the blockchain, even in the presence of malicious or faulty nodes. Together, these technologies contribute to the overall security and trustworthiness of the Helium Crypto Network.

What is Helium Mining?

On the Helium blockchain, mining works differently than traditional blockchain networks. Instead of using computational power to solve complex mathematical puzzles, Helium mining is based on a novel concept called "Proof-of-Coverage" (PoC).

To understand how mining works on the Helium blockchain, you need to know about the Helium network's primary objective: building a decentralized wireless network using Low-Power Wide-Area Network (LoRaWAN) technology.

In order to expand and maintain this network, physical coverage is crucial. This is where miners come into play. Miners on the Helium network deploy special mining devices called Hotspots, which act as wireless gateways and provide network coverage.

The Proof-of-Coverage concept determines who gets to mine new Helium tokens and participate in network consensus. It ensures that devices claiming coverage are genuinely providing it.

Note that Helium has migrated to Solana, and all LoRaWAN Hotspots now mine IOT coins, while HNT coins are emitted into the subDAO Treasury. IOT Holders can redeem their IOT for HNT.

Mining on Helium involves transmitting data packets called "beacons" from Hotspots. These beacons contain information about the location and coverage of the Hotspot, and they are encoded into LongFi wireless transmissions.

The Helium blockchain verifies that these beacons are genuine and calculates a score based on the received signals. The score determines the miner's likelihood of being selected as a consensus witness and earning crypto.

To become a miner, individuals or businesses acquire a Helium Hotspot and connect it to the internet. The Hotspot broadcasts signals and helps relay transactions and data over the Helium network.

Miners who consistently provide reliable coverage and take part actively in the network earn cryptocurrency as a reward. The amount of crypto earned depends on various factors, such as the quality and quantity of coverage provided.

This unique mining approach encourages widespread network coverage and maintenance while reaping rewards for participants. It enables the Helium blockchain to facilitate a robust and decentralized wireless network with the help of its community of miners.

HNT Crypto

Helium (HNT) is a cryptocurrency that operates on the Helium blockchain network. As the Helium network token, HNT caters to the main participants in the Helium Ecosystem: Hotspot Hosts and Operators, as well as Enterprises and Developers.

• Hotspot Hosts receive network tokens (such as IOT or MOBILE) as rewards for deploying and maintaining network coverage, which can be redeemed for HNT.

• Enterprises and Developers use the Helium Network to connect devices and create IoT applications. They use Data Credits, a utility token pegged to USD and derived from HNT through a burn transaction, to pay for wireless data transmission fees on the Network.

The original Helium blockchain produced the first HNT coin on July 29th, 2019, on block 93. There was no pre-mine of HNT before the launch of the Network. The Helium network migrated to the Solana Blockchain on April 18, 2023.

Helium (HNT) has a max supply of 223,000,000 HNT, as stated on their website. The initial targeted distribution was 5,000,000 HNT per month at launch. The network follows a two-year halving schedule, so the emission rate decreases by half every two years. This halving schedule is applied until the maximum supply of 223,000,000 HNT is reached.

Helium (HNT) cryptocurrency can be stored in a compatible cryptocurrency wallet, such as the official Helium Wallet or supported hardware wallets like Ledger or Trezor.

Other Helium Tokens

Along with the native HNT Coin, the Helium project employs a few more additional cryptocurrencies:

• IOT is the protocol token for the Helium IoT Network, introduced via the community proposal HIP-52. The initial minting of IOT tokens occurred after the Solana migration on April 18, 2023. These tokens are mined by LoRaWAN Hotspots using data transfer proceeds and Proof of Coverage. Hotspots earn IOT tokens as they validate the network and send data. The amount of IOT earned depends on the frequency of network validation and the volume of data transferred.

• The MOBILE token is the protocol token of the Helium Mobile Network, introduced through the community proposal HIP-53. It is mined by 5G Hotspots using data transfer proceeds and Proof of Coverage.

• The SOL Token. The Helium Network operates on the Solana blockchain, known for its speed, scalability, and affordability. To participate in the Solana blockchain, a minimal fee (average transaction fee: 0.000014 SOL) in SOL tokens is required. This fee is significantly lower than the previous Helium blockchain's transaction fee of $0.35 in DC. All activities involving the Solana blockchain, such as token transfers, staking, payments, token swaps, NFT creation, Hotspot reward claims, and on-chain Helium transactions, incur fees.

Also, the Helium network uses Data Credits as payment for data transfer. They are necessary to send packets of information on the network, with each 24-byte packet costing 1 Data Credit. Data Credits are used to pay for data transfer on the Helium IoT and Mobile networks, where users only pay for the data they use instead of an annual fee.

The cost of 1 Data Credit is $0.00001 USD. Besides data transfer, Data Credits are also used for certain network-related fees, such as device onboarding and location asserting. You can gain Data Credits through HNT swap or by using the Sphere Data Credit Portal. Purchasing Data Credits can be done through the Helium Console, where you can use a credit card or burn HNT to obtain them.

How Did Helium Start?

Helium's three co-founders Amir Haleem, Shawn Fanning and Sean Carey started the company in 2013. Having experience in radio and hardware, manufacturing, distributed systems, peer-to-peer, and blockchain technologies, they aimed to create a decentralized wireless infrastructure for the IoT industry. Their flagship product, the Helium Hotspot, launched in 2019, providing IoT device coverage using the LongFi protocol and Helium blockchain.

The network expanded globally, attracting developers and companies. To enhance scalability and security, Helium migrated to the Solana blockchain and introduced subnetworks for different wireless technologies, using tokens like IOT and MOBILE.

Today, Helium is a rapidly growing decentralized wireless infrastructure, driving innovative applications and aiming to democratize connectivity access.

What Problem Does Helium Solve?

Helium (HNT) blockchain solves the problem of creating a decentralized network for the Internet of Things (IoT). Traditional networks for IoT devices often face issues of high costs, limited coverage, and reliance on centralized infrastructure. Helium aims to address these challenges by leveraging a distributed network of wireless hotspots operated by individuals or businesses.

By utilizing a blockchain-based protocol, Helium provides a secure and reliable infrastructure for IoT devices to connect and communicate with each other. This decentralized network eliminates the need for costly infrastructure investments and enables IoT devices to connect seamlessly across various locations.

Helium's blockchain also introduces an incentive mechanism for participants to contribute and maintain the network. Hotspot operators earn HNT tokens by providing coverage and transferring data for IoT devices. This encourages the growth of the network and ensures its sustainability without relying on a single entity.

The Helium blockchain technology enables efficient and trustless data transfer between devices. It provides a secure environment for device-to-device communication, ensuring the privacy and integrity of data transmitted over the network.

Current Helium Price Today

If you are curious about the current Helium price, Changelly, a reputable crypto exchange platform, provides an interactive HNT price chart with real-time updates. The Helium price chart displays the price history of HNT, helping you make your own Helium price prediction.

Apart from comprehensive HNT price statistics, our interactive HNT price chart also shows the current price of the HNT token in USD, its market capitalization (market cap), 24 hour trading volume, and recent Helium price change dynamics. It allows you to identify the lowest and highest price points of HNT and view the total supply and circulating supply of HNT tokens.

By utilizing our Helium price indicators, investors can make well-informed decisions based on reliable and accurate data. You can also read our Helium HNT price prediction to see how the asset’s value may change in the future.

However, this Helium price forecast is not guaranteed because the cryptocurrency market is subject to high volatility. Therefore, conducting thorough Helium price analysis and considering multiple factors is crucial before investing in Helium or any other cryptocurrency.

You can use similar techniques as the stock market to analyze the Helium price history. Technical analysis involves studying price charts and using indicators to interpret past movements of Helium prices.

Fundamental analysis involves evaluating factors such as supply and demand, crypto market trends, and economic conditions to assess the intrinsic value of Helium and predict future price movements.

The all time high Helium’s price is nearly $55. And the all time low HNTs price is nearly $0.20.

Market Price Factors

The market price of the Helium crypto can rise because of factors, such as increased demand, positive news and developments, growing adoption, and limited supply. Conversely, HNTs prices can fall due to decreased demand, negative news, regulatory changes, lack of adoption, or increased supply.

Market Cap

The current market capitalization of the Helium Coin exceeds 200 million USD at the time of publication. Some crypto assets that have a similar market cap to Helium include Polkadot, Chainlink, Polygon, and Theta Network.

How to Get the Helium (HNT) Crypto?

There are several ways to obtain the Helium (HNT) cryptocurrency:

Buy Helium on Cryptocurrency Exchanges

One way to acquire the Helium Token is by purchasing it on major exchanges like Changelly. Changelly is the ultimate crypto exchange solution where users can easily and securely buy, sell, and exchange several hundreds of popular digital assets, including Helium, Binance Coin, USD Coin, and many more tradable assets. To buy Helium (HNT) or other cryptocurrencies, you can use a credit card, debit card, wire transfer, and an array of other payment methods, covering the investment in your local fiat currency.

Earn as a Hotspot Operator

Another way to get HNT is by becoming a hotspot operator on the Helium network. You can purchase a Helium hotspot device, set it up, and provide wireless coverage in your area. In return for validating and relaying data for other devices, you can ultimately earn HNT as a reward. The more coverage your hotspot provides and the more devices connected to it, the higher your potential earnings.

Participate in Network Challenges

Helium occasionally runs network challenges that allow individuals to earn HNT by completing specific tasks. These challenges can range from setting up hotspots in specific locations to contributing to network improvements or developing applications on the Helium blockchain. By participating and meeting the challenge requirements, you can earn HNT rewards.

Buy from Other HNT Holders

You can also acquire HNT by purchasing it directly from other HNT holders. Peer-to-peer services or cryptocurrency marketplaces may facilitate such trading at an average price of Helium in the market. Ensure that you follow proper security measures and verify the reputation of the seller before engaging in any transactions.

Remember to store your HNT tokens in a secure cryptocurrency wallet after acquiring them. This reduces the risk of losing your tokens to hackers or scams. It's recommended to research and choose a wallet that supports HNT and provides a high level of security.