Each node (hotspot) then gets rewarded with HNTs for contribution. The mining here enables several ways to earn Helium’s crypto.įirst, Helium Hotspots utilize radio waves that work as the validation and help to prove that a certain hotspot really provides network coverage for smart devices. This is done through the specifically built algorithm called Proof-of-Coverage (PoC). As a reward for that, Helium network rewards coverage providers with its native currency, Helium Network Token ( HNT).Įach hotspot provides wireless coverage and operates as a node that helps to mine Helium Tokens (HNTs). It adopts radio wave-based technology, which is sufficient to deliver long-distance network coverage for smart devices. Helium Network tries to solve the IoT internet coverage problem. Moreover, wi-fi networks are already highly occupied by computers or smartphones. The problem is, they could exist at a distance from each other, and wi-fi connections only provide short-distance coverage. However, smart devices require a reliable connection between them to operate at their full capacity. They could be anything that supports internet and is able to interact with other devices through a wireless connection. Thousands of physical IoT devices surround us every day: be it smartwatches, pet collars, smart light bulbs, GPS locators, medical sensors, or fitness trackers. Also called People’s Network, Helium builds the network of users, who provide coverage for Internet of Things (IoT) devices to connect to the Internet and communicate with each other. Helium blockchain aims to create a global decentralized wi-fi network for smart devices and is powered by a very new incentive model.
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