Helium HNT Price

What is Helium (HNT)?

Helium (HNT) is a decentralized blockchain-based network designed to provide wireless coverage for Internet of Things (IoT) devices. Launched in 2019, Helium enables users to create a global, low-power, and cost-effective wireless network, leveraging a unique consensus mechanism called Proof of Coverage. The Helium network incentivizes individuals and businesses to install Helium Hotspots, which are devices that provide coverage and validate wireless transactions, rewarding them with HNT tokens.

Who are the Founders of Helium?

Helium was co-founded by Amir Haleem, Sean Carey, and Frank Mong. Amir Haleem, who has a background in game development and technology, serves as the CEO. Sean Carey, a former executive at multiple tech companies, focuses on business strategy and growth. Frank Mong, with experience in the wireless industry, is responsible for the company's technology and product development. This diverse team has brought together expertise from various domains to revolutionize wireless networking.

How does Helium Work?

Helium operates on a decentralized network that uses Hotspots to create a long-range wireless network for IoT devices. Here’s how it works:

• Hotspots: Users set up Helium Hotspots, which are low-power devices that act as both a wireless network provider and a blockchain node. Each Hotspot covers a radius of several miles, depending on the environment.
• Proof of Coverage: Helium uses a unique consensus mechanism called Proof of Coverage (PoC). This mechanism verifies that Hotspots are providing legitimate coverage by challenging them to prove their location and connectivity.
• Tokenomics: Hotspot owners earn HNT tokens as rewards for providing coverage and validating network transactions. The amount of HNT earned depends on the amount of data transmitted through their Hotspots and their PoC performance.
• Data Credits: HNT can be converted into Data Credits, which are used to pay for the transmission of data on the Helium network. Data Credits are non-transferable and are created when users spend HNT.

Top Use Cases of Helium

Helium has several practical applications that leverage its decentralized wireless network:

• Smart Agriculture: Farmers can use IoT devices to monitor soil moisture, temperature, and crop health, enabling precision farming and reducing resource waste.
• Asset Tracking: Companies can track assets, such as shipping containers or equipment, using low-power GPS devices that communicate over the Helium network, providing real-time location data.
• Smart Cities: Urban planners can deploy sensors to monitor air quality, traffic patterns, and energy usage, contributing to more sustainable city management.
• Healthcare: IoT devices can be used in remote patient monitoring, allowing healthcare professionals to track patients' vital signs and health metrics from afar.
• Environmental Monitoring: Organizations can deploy sensors to monitor environmental conditions, such as weather patterns and pollution levels, providing valuable data for research and policy-making.

How to Keep your Helium Safe?

Keeping your Helium (HNT) and Hotspot safe involves several best practices:

• Use Hardware Wallets: Store your HNT in a hardware wallet, which offers enhanced security compared to software wallets. Hardware wallets are less vulnerable to hacking.
• Enable Two-Factor Authentication (2FA): For accounts associated with your Helium wallet or exchanges, enable 2FA to add an extra layer of security against unauthorized access.
• Regularly Update Software: Keep your Hotspot firmware and any associated software updated to protect against vulnerabilities and improve performance.
• Secure Your Hotspot Location: Ensure that your Hotspot is physically secure and placed in a location with good coverage while minimizing risks of theft or tampering.
• Monitor Network Activity: Regularly check your Hotspot's performance and earnings. Unusual activity may indicate issues that need to be addressed promptly.