The Helium network is the world’s first peer-to-peer wireless IoT network based on the Helium blockchain. Decentralization has been widespread in a variety of businesses across the globe. It’s even more incredible to witness a decentralized-wireless relationship via the Helium network. What exactly is Helium? Is it a network or a token? Many people all across the world are unfamiliar with Helium. Therefore, we have decided to give you a rudimentary understanding of the Helium network and its specifications.
Helium is ranked 73rd on the cryptocurrency list by Coinranking. However, Helium is rapidly rising in popularity, and it could be a method for you to mine cryptocurrency without having to host an expensive and energy-intensive server. It also claims to be scalable and cost-effective, allowing millions of devices to communicate wirelessly. However, understanding the IoT concept will be more helpful in understanding Helium. Billions of physical items and devices that are connected to the internet all around the globe are referred to as the IoT (Internet of Things).
The Helium Network is a dispersed and worldwide long-range wireless network that provides coverage for LoRaWAN (Long-Range, Wide-Area Networks) enabled IoT devices. The network is made up of Hotspots that give coverage to the public network in exchange for HNT, Helium’s native coin. In simple terms, the hotspot providers are rewarded with HNT tokens. In order to give an incentive for running Hotspots, the network is also connected with the Helium blockchain.
The Helium Blockchain.
The helium blockchain was founded in 2013, and the organization is based in America. The Helium blockchain powers the world’s largest LoRaWAN network, and, as mentioned above, it offers Hotspot rewards in the form of HNT payments. The network driving algorithm is the Proof of Coverage algorithm, which is often known as the PoC. Proof of Coverage is a novel algorithm developed specifically for Helium. It verifies that the network’s hotspots are physically located where they claim to be and that the wireless coverage provided by the Hotspot is accurate for its location. However, this massive connectivity scope might be able to create a golden age of decentralization.
- The above discussion is neither financial advice nor financial recommendation. It is a basic study on cryptocurrency which is done based on resource sources. Therefore, our team accepts no responsibility or liability for any predictions/decisions you make in the industry.