Helium (HNT) - Internet of Things cryptocurrency

When a company has existed for many years and issues tokens for a specific purpose, it can be assumed that it has a good chance of success. It is no different in the case of Helium - initially it was an industry startup Internet-of-Things (IoT) founded in 2013, which only recently prepared its own cryptocurrency. And it already has over $ 1,7 billion in capitalization.

We continue the cycle of the Forex Club portal, in which we analyze and describe the largest, highest-valued, most interesting, most developmental, advanced and also the most controversial cryptocurrency projects around the world. Today it's time for Helium (HNT), a cryptocurrency of a company that has been successfully operating and developing on the market for almost 10 years.

The beginnings of the Helium cryptocurrency

In June 2019, Helium announced that it would be possible to purchase tokens issued by the company. Funding was supported by such international leaders as Union Square Ventures i Multicoin Capital. Those willing to invest have obtained not only shares in the company, but also tokens that will flow to the company in the next few years during the the mining process. It quickly turned out that there was no shortage of applicants and the company obtained 54 million USD of additional and interest-free financing.

How does the project work?

The company needed money for further development. Helium creates an economical data network that is available to IoT devices. They can connect to it via their users' WiFi - once or automatically after configuring the settings. Currently, however, the huge cost of such services is a barrier - especially in the field of sending feedback to manufacturers of IoT devices.

The solution to this problem is to be the network proposed by Helium, but its essential details still require elaboration and time-consuming and expensive tests.

HNT token in Helium

He came up with the idea of ​​creating a dedicated token for a network that could be used by everyone Amir Halem, CEO of the project. Ultimately, even two tokens will operate on the blockchain: Helium and Date Credits.

Interestingly, Data credits will only be generated when Helium is burned. They must also remain in the wallet in which they were created forever, and their only use is billing for data transmission in the network. The cost of data transfer expressed in Data Credits should always be the same. This is somewhat similar in structure to the Lisk network that uses the delegated system Proof of Stake. In Helium, the system is called proof of coverage, because the blocks will be verified by the most reliable nodes, which will be rewarded for it.

You can become a node after buying a hotspot for about $ 500. It is this device that allows you to connect to the router and receive and transmit data from all IoT devices in the vicinity. The data is, of course, securely encoded. How many such hot spots do you need for everything to run quickly and cheaply? It is estimated that 50-100 devices are enough for such a huge metropolis as San Francisco.

Helium (HNT) token quotes

As of September 17, 2021, HNT tokens are listed on the 12 cryptocurrency exchanges from around the world. There are 87 in circulation, only 493% of the target 067 tokens, valued at $ 33 apiece, which translates into a capitalization of over $ 223 billion. The peak of trading took place on August 000, 000, when you had to pay USD 19,92 for each Helium token.