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.
Security incidents
Helium has experienced the following security incidents:
MOBILE Token Emissions Discrepancy (December 2023)
A discrepancy in MOBILE token emissions was found due to "configuration errors in the delegator rewards percentage," which resulted in an over-emission of approximately 274.00 million MOBILE tokens to veHNT delegators instead of the subDAO. The protocol temporarily increased emissions to replenish the subDAO's escrow account reserved for rewards. Source: Binance
MOBILE DAO Utility Score Discrepancy (October 2023)
When a new rewardable entity (mappers) was introduced to the MOBILE DAO, Mobile subscribers were erroneously counted as active devices and received MOBILE token rewards, causing an inflated MOBILE utility score from July 21, 2023, to September 12, 2023. A hotfix was deployed by the project team to filter out Mobile subscribers. Source: Helium
Data Transfer Outages (April 2023)
Two data transfer outages occurred because of a "protobuf mismatch," which the project team attributed to "miscommunication and oversight". Emergency Oracle and Console updates were deployed to reconcile the protobuf mismatch. Source: CryptoNews
Helium Blockchain Halt (June 2021)
The now-deprecated Helium Blockchain was halted due to a bug that caused Consensus Group members to crash and stop the chain. The project team issued a "Rescue Block" and fixed various bugs, resulting in the chain's resumption. Source: Helium
Helium Blockchain Halt (May 2021)
The now-deprecated Helium Blockchain was halted due to a code change that "broke a critical HoneyBadgerBFT recovery code path". Core developers prepared and released an emergency release. Source: Helium
The above list of incidents may not be exhaustive. As always, it’s important that you do your own research to ensure you’re comfortable with an asset’s associated risks before investing in it.
Token supply and concentration
Helium has a maximum supply of 223 million HNT, with 83% in circulation as of January 2026. The top 10 wallet addresses collectively hold ~31.1 million HNT (~14.0% of the maximum 223 million token supply).
Visit this external link to see the distribution among HNT’s top token holders.
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:
This information is not intended to be nor does it constitute financial, tax, legal, investment or other advice; nor is it a call to trade. The information is intended as general market commentary for information purposes only. Before making any decision or taking any action regarding your finances, you should consult a qualified Financial Advisor.