Helium
HNT Price
Helium (HNT) is a decentralized IoT network that combines wireless gateways and blockchain mining devices and providing low-cost connectivity. More
| Fully Diluted Valuation | $517.28M |
|---|---|
| 24H Trading Volume | $4.65M |
| 24H Low / High | $2.27 / $ 2.32 |
| Circulating Supply | 184.24 M |
| Total Supply | 223.00 M |
| Max Supply | 223.00 M |
| Categories | Communication 11 more |
|---|---|
| Founder | Amir Haleem 2 more |
| Website | helium.com Whitepaper |
| Socials | 7 more |
| Chains | Solana Ecosystem |
| Explorer | Solscan 3 more |
| Contracts |
hntyV....oxWux
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| Name | Pair | OG Score |
|---|
Helium (HNT) Revolutionizing IoT Connectivity Through Decentralization
Helium (HNT) has emerged as a game-changer in the realm of Internet of Things (IoT) connectivity, offering a decentralized blockchain-powered network that addresses the limitations of existing infrastructure. Launched in July 2019, Helium's mainnet facilitates communication among low-powered wireless devices through a network of nodes, primarily in the form of Hotspots.
Founding Visionaries
The brainchild of Amir Haleem, Shawn Fanning, and Sean Carey, Helium was conceived in 2013 with a vision to revolutionize IoT communication. Haleem, with a background in eSports and game development, joined forces with Fanning, renowned for creating Napster, and Carey, with a history in development roles, including at an advertising optimization firm acquired by PayPal.
Decentralized Connectivity with Hotspots
Hotspots, the cornerstone of the Helium network, function as a wireless gateway and a blockchain mining device. Users operating these nodes not only facilitate device communication but also mine and earn rewards in Helium's native cryptocurrency token, HNT. This decentralized approach, aptly named "The People's Network," has gained traction for its ability to provide wireless connectivity at a reduced cost compared to traditional infrastructure.
Proof-of-Coverage and HoneyBadger BFT
Helium employs a unique consensus mechanism called Proof-of-Coverage (PoC), based on the HoneyBadger BFT protocol. This mechanism enables nodes to reach consensus even in conditions of highly variable connection quality. PoC rewards users for contributing to mining and ensuring network stability, with Helium stating that potential attack vectors primarily impact node operators through inbound ports of Hotspots.
Data Credits and Solana Transition
In addition to HNT rewards, users pay transaction fees in Data Credits (DCs), a separate token tied to individual users. Helium's recent transition to the Solana blockchain and a strategic partnership with T-Mobile have played pivotal roles in the network's expansion. The partnership includes an innovative $20/month unlimited phone plan in the U.S., further boosting Helium's market presence.
Applications of HNT Token
HNT, the native cryptocurrency, plays a central role in the Helium ecosystem. Users operating Hotspots earn HNT by providing wireless coverage, validating transactions, and transferring device data. The token also undergoes a burning process to create Data Credits, used for data transmission and transaction fees, contributing to network stability. Validators can stake HNT for network security, enhancing the efficiency of the consensus mechanism.
Helium's Journey and Recent Developments
Since its launch in 2013, Helium has marked significant milestones, with the mainnet going live in 2019 and subsequent city-wide deployments. The network's commitment to open-source components has fueled widespread adoption. Recent advancements include a substantial investment in 2022, migration to the Solana blockchain, and a strategic partnership with T-Mobile.
Helium's innovative approach to decentralized IoT connectivity, coupled with strategic partnerships and advancements, positions it as a key player in the blockchain and IoT sectors. The Helium network's unique features, such as Hotspots, PoC, and Data Credits, contribute to its appeal for both device owners and IoT enthusiasts, fostering a community-driven expansion of "The People's Network."
Helium stands out for creating a decentralized IoT network, "The People's Network," using Hotspots that combine wireless gateways and blockchain mining devices, providing low-cost connectivity and earning users rewards in its native cryptocurrency, HNT.
Helium was founded in 2013 by Amir Haleem, Shawn Fanning, and Sean Carey. Haleem brings an eSports and game development background, Fanning is renowned for creating Napster, and Carey held development roles, including at an advertising optimization firm acquired by PayPal.
Helium secured a substantial $200 million investment in February 2022 from Andreessen Horowitz and Tiger Capital. This adds to its initial $2.8 million seed funding and subsequent investment rounds, reflecting strong support for the project's innovative IoT connectivity solutions.
Helium employs a unique consensus mechanism called Proof-of-Coverage (PoC), based on the HoneyBadger BFT protocol. This mechanism rewards users for contributing to mining and ensuring network stability, providing a secure and efficient foundation for Helium's decentralized wireless network.
You can buy Helium (HNT) on Bybit, Bitget, Coinbase, Kraken, Gate.io cryptocurrency exchanges.
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There may be different staking options available such as to participating in DAOs, decentralized governance and revenue sharing. Please watch out for scams. Only consider staking options promoted on the official website of the project and advised partners. Please click here to see the official links and make sure to follow the latest instructions.
This data is dynamic and varies depending on the number of tokens that are being vested/vesting, removed from circulation because of network transactions or burned permanently and staking reward distribution mechanism. According to self-declared data the circulating supply of Helium (HNT) is ($184,242,226), max supply of Helium HNT is ($223,000,000) and the market cap of Helium HNT is ($427,379,527).
What is the Helium (HNT) price prediction?
Predicting prices in the crypto market is highly speculative and can't be definitively stated. Various factors drive price movements such as macroeconomics, Bitcoin ($btc) and crypto market overall behavior, on-chain activity, whale positionings, growth potential of the project etc. We cannot give any price predictions nor financial advice, but you can look at our comprehensive data, expert user reviews and decide if the product suits your needs! Please do your own research DYOR!
The current market price of Helium (HNT) is $2. As the OGAudit community we mainly focus on features such as use cases, product development, and sustainable growth. However, we also provide real-time market data and coin/token statistics, analytics, price history for popular altcoins. see here.
It is important to do comprehensive research before deciding whether Helium (HNT) or any other cryptocurrency is a good investment. We believe you should ask each of these questions before deciding to invest or make partnerships with any crypto project:
Is this type of digital asset considered legal in your country?
Does Coin (Helium HNT) solve a good problem or offer the best solution?
Do products and services work effectively, and solutions are scalable?
Does the team have a realistic roadmap and can catch up with it?
Does Helium (HNT) have reasonable and sustainable revenue income models?
Can the team market their products and services well?
How decentralized is the governance and how strong is the community?
Has it reached its fair market value yet?
Does the coin/token have enough trading pairs and liquidity?
As the OGAudit community crypto experts, we evaluate crypto projects by asking each of these questions and more, to provide objective and reliable comments and ratings for the end-user, investors, and institutions. By carefully considering these reviews, ratings, and price action, you can decide whether Helium (HNT) is a good crypto to invest in or not. To access these evaluations and ratings please click here . The OGAudit experts are the largest, most experienced, and elite users in the crypto space. However, keep in mind that the scores, expert reviews and comments on our platform are OGAudit users’ personal views and meant for educational purposes only. None of the information we publish on our website contains any investment advice and should not be perceived as such. Always -DYOR- do your own research well.
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