What is Helium (HNT)? How does it work?

Helium (HNT) is a decentralized wireless network built on blockchain technology. It enables users to share wireless internet connectivity with each other, forming a wide-ranging network.

To understand more about Helium (HNT) and related project information, please follow the content below provided by AZcoin!

What is Helium (HNT)?

What is Helium (HNT)?
What is Helium (HNT)?

Helium (HNT) is a decentralized wireless network built on blockchain technology. Helium’s goal is to efficiently and securely provide wireless internet connectivity for IoT (Internet of Things) devices. The Helium network operates by using devices called “Hotspots” to provide connectivity and manage the network.

Helium’s development team, investors and partners

Development team

The project has a core team consisting of three prominent figures in the cryptocurrency field, who have made significant contributions to the notable advancements of HNT.

  • Amir Haleem (CEO & Co-founder): Before founding Helium, Amir worked in the video game industry as the Chief Technology Officer at Diversion.
  • Marc Nijdam (CTO): With over 25 years of experience in the technology field, Marc conducted commercialization research at Hewlett-Packard and was behind several products and services at Qualcomm.
  • Frank Mong (COO): Frank is responsible for sales, marketing, and business development for the project. Before joining, he had 20 years of experience in cybersecurity, including positions as CMO at Hortonworks, SVP Marketing at Palo Alto Networks, and VP/GM Security at HP.

Investors

The Helium project has attracted investment from many well-known venture capital firms, such as FirstMark Capital, Khosla Ventures, GV (Google Ventures), HSB/MunichRe Ventures, and other investors.

Partner

The project has many partners from various organizations, each with a specific role in developing the platform:

  • Nestle ReadyRefresh: One of the first customers to use the Helium network to monitor water in Connecticut.
  • Agulus: Uses the Helium network to automate water distribution processes based on wireless sensors connected to Helium Hotspots.
  • Lime: Provides global bike and scooter-sharing services. Lime uses the Helium network to locate and track lost bikes and scooters.
  • Conserv: Connects to the Helium network to provide additional information about artworks.
  • Careband: Offers wireless wearable devices for consumers to track location and temperature in environments such as hospitals or offices. Careband uses the network system to track the location of wearable devices.
  • BCycle: Provides bike-sharing services in the United States. BCycle is using the Helium network to monitor its bike system.

How does helium work?

How does helium work?
How does helium work?

The Helium network operates by using Hotspot devices to provide wireless internet connectivity for IoT devices. When an IoT device wants to connect to the internet, it will search for and connect to the nearest Hotspot. The Hotspot then transmits the information through the Helium network and connects the IoT device to the internet.

Each time a Hotspot successfully provides a connection, the Hotspot owner receives a reward in HNT Tokens. This incentivizes users to provide connectivity and maintain the Helium network. Through this process, Helium creates a decentralized business model that encourages community participation.

Helium’s outstanding products

Similar to Mantra Chain and Ecash, Helium stands out with several unique products and services as follows:

  • Helium Hotspot: A device that provides wireless internet connectivity for IoT devices and earns rewards in HNT Tokens when a successful connection is provided.
  • Helium Console: A network management interface that allows users to monitor and manage Hotspots, connected devices, and network activities.
  • LongFi: A technology integrated into Helium, allowing for longer-range connections compared to traditional wireless communication technologies.
  • Helium Tabs: Devices that track the location and status of objects, helping users manage and protect personal assets effectively.

Detailed information about HNT Token

Detailed information about HNT Token
Detailed information about HNT Token

Key Metrics HNT Token

  • Token Name: HNT Token.
  • Ticker: HNT.
  • Blockchain: Helium Blockchain.
  • Token Standard: Updating.
  • Contract: Updating.
  • Token Type: Native.
  • Total Supply: Not fixed.
  • Circulating Supply: 45,159,766 HNT.

HNT Token Allocation

The total number of HNT Tokens will be distributed as follows:

  • Miners: 66.9%.
  • Investors: 21.5%.
  • Helium Treasury: 11.6%.

HNT Token Use Case

The Helium token, abbreviated as HNT, is the native token of the Helium blockchain and serves two main purposes:

  • Mining rewards: Hotspots can earn HNT by building and securing network infrastructure, as well as participating in data transfer.
  • Payment for network services: HNT tokens are used to create Data Credits (used for sending data across the network and converted from Helium tokens) to pay for service fees.

HNT Token storage wallet

HNT Token storage wallet
HNT Token storage wallet

Cũng giống như Flare Coin, HNT Token cũng có thể được lưu trữ trong bất kỳ ví nào hỗ trợ chuẩn ERC-20 như MyEtherWallet, Metamask hoặc Ledger Nano S. Người dùng cũng có thể lưu trữ HNT Token trên ví điện tử của Helium Console.

HNT Token trading platform

Currently, HNT Tokens can be traded on several best crypto exchanges such as Binance, Huobi, OKEx, and FTX. Listing on multiple exchanges makes it easier for users to access and trade HNT Tokens.

Should you invest in Helium (HNT)?

Investing in Helium (HNT) requires careful consideration based on multiple factors. Helium is a blockchain and IoT project with potential, aiming to build infrastructure for the Internet of Things through a Hotspot network. This enhances connectivity and provides global IoT services, while also promoting the development of practical applications.

However, as with any cryptocurrency investment, investors need to be cautious about market risks, price volatility, and the technical aspects of the project. Thorough research and a clear understanding of the project and market are crucial before making an investment decision.

The end

Above is the detailed information about the Helium (HNT) project that AZcoin has just introduced to you. We hope this article has provided you with an overview and will help you make an informed decision before investing in this project. Wishing you success!

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