Introducing Helium blockchain and decentralized LoFi for Internet of ThingssteemCreated with Sketch.

in #cryptocurrency • 4 years ago

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The Helium project was founded in 2013 in San Francisco (CA) and was the first peer-to-peer wireless network, that rewards network operator for providing connectivity to a new class of IoT devices.
The mainnet started in 2019 and already 21882 hotspots were created and the price grown to $ 6.03 for 1 HNT token.


Provided by Coinmarketcap (https://coinmarketcap.com/currencies/helium)
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Earn HNT tokens by mining helium and building coverage for The People’s Network with a hotspot miner.
The source code is open source and anyone can join the People's Network and provide wireless network coverage of hundreds of square kilometers while mining HNT on the Helium blockchain, just like hotspot miners do.

This is not an ordinary WiFi hotspot, but a new, energy-saving LongFi ™ technology.

Helium LongFi ™ is a new transmission technology that combines a leading wireless technology, LoRaWAN, with the Helium Blockchain (HNT). LongFi ™ is optimized for miles of range and long battery life for IoT devices.

How do I earn tokens with the Helium network?
There are currently two ways to earn tokens with the helium network, hotspot mining and staking as a validator.

  • Hotspot mining
    The income from hotspot mining is based on the network coverage (proof-of-coverage) and the data sent by the IoT devices located in the covered area. Therefore, the location and location play an important role in the distribution of HNT tokens.

First income: Proof of coverage

The hotspot miner receives HNT helium tokens when devices connect and the wireless coverage provided by peers is checked. Using a system called Proof-of-Coverage, hotspot miners earn more HNT when they are within range of other miners, but must be at least 300 meters apart.
The range depends on the environment:

Rural areas: ~ 20 kilometers or more.
Dense areas: ~ 1 km or more.



Second income: Relay devices data throughput

The more devices are in your hotspots coverage, the more data is relayed from IoT devices to Cloudservices of the owners and more income is mined by your hotspot.


Third income: Consensusgroups

Trusted hotspots are elected randomly in groups, to verify transactions and create new blocks on the blockchain and get rewarded.

To mine you need special hotspot miners, which are available from USD 300. In 2019 there were still delivery problems, now you get your order relatively promptly.

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In areas that are not well covered, it is advisable to operate several hotspots in order to generate lucrative coverage.

Individual HNT hotspot miners earn less because they only pose challenges via the Internet and cannot participate in the proof-of-coverage.

The yields speak for themselves and the ROI for the initial investment is earned in a few months with a good configuration.

#crypto #income #money #passiveincome #lofi #hotspot #miner
4 years ago in #cryptocurrency by
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