Helium, also known as The Peoples Network, is a decentralized wireless infrastructure powered by blockchain technology. It allows users to deploy simple devices that offer miles of low-power network coverage for mobile devices and earn HNT cryptocurrency as rewards. Participants can build coverage for the Helium Network by deploying compatible Hotspots and mine HNT on the Hotspots as a contribution towards spreading and widening the network coverage. Heliums Hotspots enable telecom businesses to deliver secure, ubiquitous, and low-cost wireless connectivity globally. HNT is the cryptocurrency that powers the Helium Network ecosystem and has a maximum supply of 223 million, which is mined and distributed among users, the company, and investors in the Helium project.

Helium blockchain works by allowing network participants to install and configure compatible Hotspots that offer The Peoples Network coverage. Random Proof-of-Coverage tests are assigned and conducted by the Helium blockchain among this decentralized network of Hotspots. Hotspots that pass these tests can mine and earn HNT crypto. Hotspots also earn HNT when they transfer device data on the decentralized network. The more devices connected to a Hotspot, the higher its earning potential. Each compatible device that uses The Peoples Network spends Data Credits (CDs) to send data to the internet. Data Credits are created by burning HNT, which controls the networks total supply of Helium tokens. Deploying a Helium Hotspot allows local businesses to earn HNT and supports the development of new hardware and software solutions for the Internet of Things (IoT) using the decentralized wireless infrastructure provided by Helium.

Helium was founded in 2013 by Amir Haleem, Shawn Fanning, and Sean Carey. Amir has previous experience in developing eSports and games, while Shawn is known for creating the music sharing platform Napster. Sean had prior experience in multiple developer roles, including working for an advertising optimization firm Where before PayPal acquired it. The Helium mainnet launch occurred in July 2019, and the first-ever city-wide Helium network deployment went live in Austin, Texas, a month later. The project made most of the Helium network components open source, including the Helium blockchain, LongFi wireless protocol, multiple hardware schematics, developer client libraries, hardware schematics, and cloud APIs. The Helium network expanded to offer city-wide coverage in San Francisco by October 2019 and across New York in November 2019. Helium received significant investments, including a $200 million investment from Andreessen Horowitz and Tiger Capital in February 2022, following previous funding rounds.

Heliums HNT is a good cryptocurrency to include in your portfolio if you invest in digital assets with mainstream use and potential. As the provider of decentralized wireless infrastructure, the Helium project aims to power several key trends in connectivity worldwide, including 4G, 5G, IoT, and more, in a low-cost and quick manner.

As the Helium Network adds more Hotspots that connect more devices to the internet and generate Data Credits, the price of HNT crypto could climb higher. Higher on-chain activity on the Helium blockchain could strengthen the HNT price and make it a valuable crypto asset to invest in and hold.

The announcement of more global partnerships with telecom companies could also raise the Helium price. Such announcements drive up investor confidence in the project and make the HNT crypto an interesting asset to buy and trade.

Although it is impossible to make an accurate HNT price prediction over any duration, several fundamental factors you can monitor drive volatility in the Helium token price. These include:

Level of Adoption

As more businesses and users set up Hotspots to support more devices, the value of the Helium project could take off. This could also bring in more connected devices to use its decentralized wireless infrastructure, driving up the on-chain activity on the Helium blockchain and sending the HNT to USD price higher in the market.

Partnerships and Upgrades

Whenever Helium announces new partnerships or technical upgrades, it increases the projects appeal among investors. This could cause more crypto investors to buy and hold its cryptocurrency, boosting the HNT price statistics.

Market Sentiment

A positive market sentiment or risk-on mood among global investors sends the price of cryptocurrencies upwards, supporting the price of HNT token. However, bearish or risk-averse sentiment drives sell-offs in the crypto market that could weaken the Helium price.

HNT is the native cryptocurrency of the Helium ecosystem and has the following applications:

Incentive Token

Users running Hotspots earn HNT when they provide and validate wireless coverage using their devices. In addition, they also generate $HNT when transferring device data over the decentralized network.

Token Burning

HNT is burned for creating Data Credits (DC). These DCs are then used by devices that use the Helium decentralized network to send data. They are also used to pay transaction fees within The Peoples Network.

Staking

Validators can stake HNT to run their nodes and contribute to the consensus mechanism of the Helium Network. You can stake a minimum of 10,000 HNT to run your validator node, participate in transaction validation, and block production.

Crypto Asset to Trade and HODL

Trade Helium crypto against other cryptocurrencies to profit from market volatility. You can buy or sell HNT against other digital assets or hold it long-term if you believe in the future potential of Helium. Check the live price of Helium, HNT market cap, circulating supply, 24-hour trading volume, and the latest crypto news before trading HNT in the market.

You can mine HNT by setting up a Hotspot on your home or office window and providing wireless network coverage for devices around you. By doing so, you provide coverage using Helium LongFi, and mine HNT to earn rewards for your contribution.

Helium uses an innovative Proof-of-Coverage consensus algorithm to ensure that your Hotspot uses only 5W energy while operating and mining HNT crypto. The more devices that connect to the network using your Hotspot, the higher your earning potential becomes.

You can also mine HNT when you receive challenges from validators to transmit payloads to nearby Hotspots around you to witness and verify. These challenges, also known as beacons, increase your earning potential when more Hotspots are set up around your location.

In addition to mining HNT by running your Hotspot, you can also stake HNT on the Helium Network and participate in verifying transactions. You can stake $HNT by running your validator node.

This option requires you to stake a minimum of 10,000 HNT and have the technical skills to set up and maintain a validator node through a virtual server provider. You also need a high-speed, reliable internet connection to keep your node online and constantly running to avoid penalties or a reduction in earnings.

The Helium Foundation has confirmed that token holders will be able to stake HNT to participate in decentralized governance after migration to Solana. Staking HNT will let them earn Vote-escrowed HNT (veHNT) that will represent voting power and can be delegated to Helium subDAOs.

If you earn HNT through mining by operating a Hotspot, you can cash out your Helium in the following manner:

1. All your earnings from mining HNT will be collected in the Helium Wallet - the Helium Networks official crypto wallet.

2. You can transfer your HNT tokens from your Helium Wallet to an exchange like BYDFi.

3. On BYDFi, you can trade HNT for USDT in the spot trading section to exchange your Helium tokens for stablecoins.

4. You can then use the BYDFi P2P service to withdraw the USDT as fiat currency into your bank account, effectively cashing out your HNT earnings.