Helium (HNT)

2020

Helium (HNT) was launched in June 2020. The price was relatively low and stable in its initial months, generally between $0.25 and $1.00.

2021

The cryptocurrency market saw a big surge in 2021. HNT's price grew substantially during this period, reaching an all-time high of around $55 in November 2021. Increased adoption of Helium's decentralized wireless network and the broader crypto market surge contributed to this rise.

2022

Following its peak, HNT's price and overall crypto market faced a downturn in 2022. By the end of 2022, the price had dropped, generally trading between $1.50 and $2.50.

2023

In 2023, HNT's price showed signs of recovery and stabilization. While not reaching the highs of 2021, the price fluctuated within a range of $1 to $2 for most of the year.

2024

As of mid-2024, HNT continues to trade within a relatively stable range, with prices influenced by ongoing developments in the Helium network and the overall market conditions.

Helium is a decentralized blockchain-powered network designed for the Internet of Things (IoT). Launched in 2019, it aims to create a global wireless network to connect IoT devices. 

The Helium network is built on a blockchain architecture that incentivizes the creation of decentralized and wireless infrastructure.

Helium was founded by Amir Haleem, Shawn Fanning, and Sean Carey in 2013. Amir Haleem is a co-founder and CEO, Amir has a background in the video game industry and competitive gaming. Before Helium, he worked at companies like Decentraland and Diversion. 

Shawn Fanning is a co-founder. He is well-known as the creator of Napster, one of the first peer-to-peer (P2P) file-sharing platforms that revolutionized the music industry. 

Sean Carey is another co-founder with a software engineering and product development background. Before Helium, he worked at several technology companies.

Blockchain Technology

Helium records all transactions and activities on a blockchain, providing a secure and immutable ledger that prevents tampering and fraud.

Proof-of-Coverage (PoC)

This consensus mechanism verifies that hotspots are providing legitimate wireless coverage. Hotspots are rewarded based on their ability to prove their location and service, ensuring network integrity.

Encryption

Data transmitted over the Helium network is encrypted, protecting it from interception and unauthorized access.

Decentralization

The network is decentralized, with no single point of failure. This makes it resilient to attacks and enhances security through distributed control.

Periodic Audits and Updates

Regular security audits and software updates are conducted to identify and mitigate vulnerabilities, ensuring the network remains secure against emerging threats.

Helium allows to own and manage a wireless IoT network using a unique, portable radio router called a hotspot. These plug-and-play devices offer better connectivity than WiFi.

Miners use hotspots to create “The People’s Network,” a long-range wireless network that provides coverage for IoT devices with low power needs. 

In return, miners earn HNT, and Helium community allows third-party manufacturers to sell a variety of hotspots.

The Helium blockchain uses a unique algorithm called Proof-of-Coverage (PoC) to ensure hotspots accurately report their location and wireless coverage. During mining, radio waves are used, and hotspots earn rewards by verifying the performance of others, completing PoC challenges, and sharing device data. The Helium Network Explorer is the go-to tool for tracking PoC data.

When Helium launched in 2019, it used a PoC system with multiple roles, such as Challenger, Beaconer, Witness, Validator, and Rewarder, to validate hotspot locations and coverage. As the network grew, so did attempts to exploit it, prompting the need for adjustments to maintain security.

To address this, Helium Improvement Proposal 70 introduced an oracle-based PoC system. Hotspots now manage their own beacons, while a decentralized group of oracles validates PoC events, streamlining the process and improving scalability.

To become a miner, users can buy or build a WHIP-compliant hotspot and stake tokens based on the number of other miners in their area (WHIP stands for Wireless Hardware Interface Protocol).

WHIP enables a decentralized network of independent providers to perform two-way data transfer between wireless devices and the Internet without relying on a central authority.

Routers, also known as Helium Network servers, validate hotspots, ensure device data is properly transmitted, and compensate miners. These routers buy encrypted data from miners, maintaining data accuracy and security across the network.

Helium supports three types of hotspots:

Full Hotspots

These hold a complete copy of the HNT blockchain and earn rewards for all activities, including proof-of-coverage (PoC) and data transfer.

Light Hotspots

Using Light Hotspot software, these participate like full hotspots using validators instead of storing the blockchain locally, earning rewards for PoC and data transfer without the extra cost.

Data-Only Hotspots

These focus solely on data transfer without participating in PoC challenges, and they are rewarded only for data transfer activities.

Step1: Select a cryptocurrency exchange that lists HNT, such as Binance, FTX, or Crypto.com.

Step2: Sign up for an account on the chosen exchange and complete any necessary verification processes.

Step3: Deposit funds into your exchange account. You can typically use fiat currency (like USD or EUR) or another cryptocurrency (like BTC or ETH).

Step4: Navigate to the HNT trading pair (e.g., HNT/USD or HNT/BTC) and place a buy order for the amount of HNT you wish to purchase.

Step5: Transfer your HNT to a secure wallet, such as the Helium app or a hardware wallet, for safekeeping.

Purchase a Hotspot
Buy a Helium hotspot device from an authorized manufacturer. Make sure to choose a device compatible with your location that meets the WHIP (Wireless Hardware Interface Protocol) standards. Popular brands include Nebra, Bobcat, and RAK Hotspots. 

Set Up the Hotspot
This usually involves connecting the hotspot to your home internet (WiFi or Ethernet) and positioning it in an area with good coverage, ideally near a window or in a high place for the best signal. Ensure your hotspot has a reliable power source and stable internet connection to avoid downtime.

Register the Hotspot
Download the Helium app (iOS and Android) and create an account. Once your hotspot is physically set up, use the app to register it on the Helium network. You will be required to provide its location details. Some manufacturers also charge a one-time fee to register the hotspot. Be accurate with the location to maximize your Proof-of-Coverage rewards, as this determines how your hotspot interacts with others in the network.

Provide Coverage
Once registered, your hotspot will start providing wireless coverage for IoT devices in your area. It will also participate in the Proof-of-Coverage (PoC) mechanism, which validates the network's reliability. For better performance, ensure few obstructions like walls or tall buildings between your hotspot and others in the area.

Earn HNT
As your hotspot provides wireless coverage and validates other hotspots, you will earn HNT rewards based on your participation in the network. You can monitor your earnings, track your hotspot’s activity, and view its performance directly through the Helium app. 

• Helium mining is much cheaper than traditional crypto mining. Hotspots use very little electricity (less than 10W) and don’t require expensive hardware, making it accessible for most people.
• Helium hotspots are relatively affordable, typically costing between $300 and $700, which is much cheaper than traditional mining setups.
• By running a Helium hotspot, you contribute to a network that provides wireless coverage for IoT devices, helping power applications like smart sensors and asset tracking.
• You earn HNT tokens by providing network coverage and validating data. In areas with low hotspot density, you can earn more. Light hotspots also allow you to participate without heavy hardware costs.
• Once set up, Helium hotspots require minimal upkeep, making HNT mining a largely passive income source.

• Due to high demand, hotspot devices are often backordered.
• In areas with too many hotspots, rewards decrease as they compete for network coverage, which can reduce your earnings.
• Helium’s long-term success depends on the growth of IoT devices. If IoT adoption is slower than expected, demand for Helium’s network may not increase as much.
• Setting up and optimizing a hotspot may require some technical knowledge, and occasional maintenance, like software updates or troubleshooting, is needed.