Helium is a blockchain-based network that connects IoT devices. This technology allows communication between devices while the system is sending data through network nodes. The nodes that make up the network are called hotspots in this system. Hotspots provide public network coverage and rely on LoRaWAN.
LoRaWAN is a media access control layer protocol with cloud components to which platforms such as Helium can connect. It is one of the largest LoRaWAN networks, with over 25,000 hotspots that act as nodes in the network.
Hotspots combine the power of LoRaWAN with mining devices based on blockchain technology.
It is also known as “The People`s Network,” which aims to prepare an efficient and functional IoT for the future while addressing all problems and inadequate solutions. One of the biggest issues in the IoT sector is the privacy of popular Internet of Things hubs such as Google and Amazon. Thanks to the blockchain technology used to decentralize and build helium, privacy is no longer an immediate issue when connecting devices to the Internet of Things.
How Does Helium Work?
It aims to rely on the community of HNT owners to create a reliable and decentralized global network for IoT devices. The network consists of nodes, or hotspots, that are actually operated by the node operator who owns the HNT. By hosting hotspots and managing nodes, users can participate in network functions.
WiFi already supports IoT devices. However, supporting as many devices as possible raises privacy issues. It solves this problem with a decentralized architecture and a consensus mechanism that provides 200 times more coverage for your network than a WiFi connection to the IoT.
The consensus mechanism by which the network runs is called the Proof of Coverage and also serves to distribute rewards to HNT owners and node operators. To set up a hotspot, users must purchase a mining device from this website. The miner generates a radio frequency by connecting to the network, and a coverage proof mechanism verifies the location of the hotspot.
Network participants can assume one of three important roles for the functioning of the network: challenger, mediator, and witness. The rewards distributed through the system also depend on their role in the hotspot network.
How do you use Helium?
It is used to efficiently and effectively connect low-power devices to the Internet of Things. It also enables HNT prospecting and staking, enabling users to profit based on their participation in the network.
To use it is as a hotspot node provider, users can purchase special mining equipment available on the official website and earn rewards based on their participation. Rewards will be distributed at HNT. HNT is sold in the cryptocurrency market and can be used to generate non-exchangeable data credits.
It is named The People’s Network because it creates its own infrastructure for a whole new wireless economy, powered by decentralization.
It revolutionizes the way blockchain is used, providing incentives for network participants and facilitating the connection of IoT devices. Thanks to mining rigs specially designed to allow users to mine more efficiently with less power, users can be rewarded in the form of HNT for network support and protection.
As the need to connect devices over the Internet of Things becomes more important, it can find useful places in the global network of IoT devices. It has valuable technology that makes it easy for users to generate and distribute the radio frequencies of their wireless devices, justifying the name “The People’s Network.”