Helium is a decentralised wireless network that provides internet coverage for devices like smart sensors, scooters, GPS trackers, and even 5G-enabled smartphones. Rather than relying on telecom companies, Helium is powered by everyday users who set up physical hotspots in their homes or businesses.
These hotspots create wireless coverage and help relay data across the Helium network. In return, users are rewarded with HNT tokens. This approach makes Helium one of the first truly decentralised networks for the Internet of Things.
Helium started by building long-range wireless coverage for low-power IoT devices, and later expanded to include 5G. It moved from its own blockchain to Solana in 2023 to improve speed and compatibility with other projects.
What problem is Helium solving?
Traditional wireless networks are centralised and expensive to maintain. They are built by large telecom companies and limited to urban centres, leaving many areas without coverage.
Helium takes a different approach. By letting individuals build and own the infrastructure, it lowers costs and spreads coverage faster. Anyone can contribute to the network by setting up a hotspot and earn rewards for their role.
This makes it easier to connect smart devices in places where traditional networks might not reach.
Who created Helium?
Helium was founded in 2013 by Amir Haleem, Shawn Fanning, and Sean Carey. The company behind it, originally called Helium Inc, is now known as Nova Labs. The project’s vision is to build a global, decentralised wireless network owned and operated by the people who use it.
What is HNT used for?
HNT is the native token of the Helium network. It is used to reward hotspot hosts for providing coverage, and to pay for network usage through something called Data Credits. When data moves across the Helium network, a small amount of HNT is burned to create these credits.
Over time, this system encourages a balance between supply and demand, as more network usage means more HNT is burned. HNT can also be used for governance and decisions about the future of the Helium network.
Tip
Keen to explore Helium a bit more? You can learn about HNT basics and get all the latest cryptocurrency news on Luno Discover.
Want to know how to buy, sell, send, or receive HNT? We’ve got answers in the following help articles:
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