Helium Mobile’s data growth has been rapid. Currently, there are 12,398 active 5G nodes, nearly half of the 6,400 nodes in August of the previous year, growing at an almost monthly rate of 1,000 nodes.

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Helium miners has emerged as an exciting and profitable venture in the cryptocurrency and blockchain industry. This innovative approach has gained attention with the development of the Internet of Things (IoT), thus necessitating a decentralized network. The launch of the Helium network in 2019 officially began the possibility of linking the Internet of Things with blockchain. This article presents the narrative of the Helium project and its current development prospects.

Helium integrates blockchain technology, wireless infrastructure, and the Internet of Things. This integration promises to change how we use cellular data and wireless Internet and allows cryptocurrency investors to earn passive income through helium mining.

What Is Helium Mining?

Helium mining is a pioneering venture in cryptocurrency and blockchain involving specialized equipment called helium miners to verify and protect wireless IoT networks. Unlike traditional cryptocurrencies that use Proof of Work or Proof of Stake algorithms, Helium employs a unique consensus algorithm called Proof of Coverage (PoC). This approach ensures the efficient operation of IoT devices and fosters decentralized network infrastructure.

The Helium network is a blockchain-based cryptocurrency designed to create a decentralized wireless network independent of traditional satellite or cellular tower infrastructure. Helium employs compact router radio devices known as hotspots. It allows individuals to possess and manage a wireless IoT network effortlessly. Participants in this network (referred to as “miners”) use radio frequency (RF) signals instead of the typical computational power used in other blockchain systems to provide IoT coverage. As more people join the helium mining process, the strength and coverage of the network continue to expand.

Utilize LoRaWAN

The vision of the Helium Network goes beyond mining HNT tokens for profit; it provides decentralized wireless infrastructure. It has fundamentally changed the traditional network model. Since the launch of HNT, early adopters have seen substantial returns. The network operates as a distributed entity. With each node as a hotspot supporting LoRaWAN (Long Range Wide Area Network). LoRaWAN technology is crucial in the Internet of Things, it utilizes remote radio modulation for network communication. The Helium network and HNT token rely on Proof of Coverage algorithms, emphasizing decentralized IoT solutions.

As a vast LoRaWAN network, Helium connects data on the Internet through physical devices (i.e., helium miners), offering a practical approach to the Internet of Things. By creating a remote wireless hotspot network, Helium facilitates HNT mining and provides innovative solutions to the connectivity challenges often faced by Wi-Fi. The network enables devices to connect automatically and directly without centralized hubs, expanding the coverage and accessibility of Internet services, especially in areas where traditional Wi-Fi or cellular data are expensive or unavailable.

How Do Helium Miners Work?

The decentralized framework of the Helium network allows for the setup of hotspots. It is also known as helium miners. The network employs a relatively new algorithm called “Proof of Coverage” to verify the location of hotspots and their network coverage, using the Helium Network Explorer tool typically used to track this data.

In Helium mining, traditional CPUs and ASICs are replaced by radio waves. These hotspots, equipped with LoRaWAN transmitters, provide extensive wireless coverage to enable mining. There are two primary ways to earn HNT: transmitting data to other devices on the Helium network and participating in coverage proof challenges issued by nearby hotspots. Mining HNT requires specific equipment, namely LoRaWAN transmitters. Additionally, a key factor affecting miners’ income is their geographical location. Therefore, purchasing high-quality antennas is crucial for maximizing mining rewards.

Types of Helium Hotspot

To profit from HNT mining, it’s important to know about the three types of Helium hotspots: total hotspots, light hotspots, and pure data hotspots. Earning HNT tokens depends on expanding the Helium network, so the more data you transmit, the more you earn.

Helium hotspots are devices that look like routers, which miners buy to earn rewards. These hotspots act as nodes in a decentralized wireless network, providing connections to nearby IoT devices. In return, miners receive HNT tokens.

Helium hotspots boast an impressive range, thanks to its innovative LongFi technology. This technology offers connectivity ranges up to 200 times greater than standard Wi-Fi. It integrates existing LoRaWAN wireless protocols with Helium’s custom blockchain, providing broader coverage.

Unlike typical Wi-Fi routers, Helium hotspots are not subject to common restrictions centralized cellular providers impose, such as data limits or extra fees. Additionally, these hotspots are encrypted by default and do not require additional purchases like SIM cards.

Users interested in joining the Helium network can acquire hotspots from certified third-party manufacturers. Some well-known manufacturers include RAK, Nebra HNT, and Bobcat Helium Miners. The cost of Helium hotspots is typically around $400.

Helium Economic Model

Solana and DePIN Dual Narrative Empowerment

Solana and DePIN are becoming the two pivots for the resurgence of Helium Mobile. On April 20, 2023, Helium completed its migration to the Solana network and became the head of the Solana ecosystem DePIN track. At the same time, the high-performance characteristics of Solana’s public chain provide fertile ground for Helium Mobile. Helium Mobile is interoperating with the Solana ecosystem in its way. At the Solana Breakpoint conference in October 2023, Helium Mobile was repeatedly mentioned as a case study.

In November 2023, Nova Labs introduced SIM cards and free trial services for around 50,000 Saga mobile users. The idea of DePIN, following the approval of the Bitcoin ETF and the wider acceptance of cryptocurrencies, will be key for growth in the Web3 space. This concept blends token economics with real-world applications. Helium Mobile taps into essential mobile and communication devices, making it easier for everyday users to adopt and popularize the technology.

Helium Mobile Adjusts Mining Rules

  • The Helium Mobile network consists of four roles
    Hardware suppliers produce and sell 5G hotspot devices.
  • Hotspot operators (miners)
    Miners purchase hotspot devices and contribute to network coverage to earn token rewards.
  • Operator Nova Labs
    Provide a $20 per month 5G plan to end-users.
  • Users
    Purchase 5G plan services with tokens or credit cards and earn token rewards by providing map data

IoT Economy and Blockchain What sets Helium apart is its ability to mine cryptocurrencies at home using energy-efficient and cost-effective devices, in contrast to other cryptocurrencies that require high-performance ASICs. Helium Mobile constructs a decentralized 5G network by providing token incentives for hotspots and obtaining end users through communication plans priced well below market rates. The incentive mechanism creates a flywheel effect among miners, tokens, and users, driving triple growth in network scale, user base, and token price.

Helium’s Fully Diluted Valuation (FDV) is around $21 billion. Helium Mobile’s FDV is only $9 billion, with a circulating market value of only $300 million and Helium Mobile users ranging from 30,000 to 50,000. If this number were to increase tenfold, when Helium Mobile has 500,000 users, its market value could multiply by 10 to 20 times.

The IoT market is one of the fastest-growing technology sectors, expected to reach $1.2 trillion by 2025. This rapid growth provides enterprises with vast opportunities to collect and analyze data from interconnected devices and meet the growing demands for IoT infrastructure and services.

About CipherBC

CipherBC stands as a market leader in digital asset custody and payment solutions. Catering to businesses seeking a secure and efficient transition to Web3 transformation, ensuring the security of assets and We are committed to the mission of “ fostering financial freedom.” In line with this objective, we provide asset owners with a complete range of services, encompassing asset custody, merchant payments, clearing and other financial services.

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