One of the most frequent questions crypto skeptics ask is what else can crypto do apart from financial crimes and speculations. While the question is tough to answer, there is more to crypto in the finance sector. There are multiple crypto exchanges, video games, and NFT trading platforms involved in purchasing and selling crypto. Still, there is no crypto project with a typical utility that solves the problems of those outside the crypto world.
Recently, there has been a newly discovered crypto project that solves the problem of non-crypto people. It is known as Helium or the people’s network. It is one of the renowned crypto projects that don’t involve constitution copies or cartoon apes, and it’s useful in solving several problems.
What is Helium?
Helium is the IoT devices’ decentralized wireless network powered by crypto. It merges small networks known as Helium Light Hotspots_ devices with antennas that send minimal data using radio frequency over a long distance. The hotspots cost around $500 and can send data 200 times farther than the standard Wi-Fi hotspots.
Helium is fully decentralized as its founder didn’t want the network to establish itself but rather let its users establish it by purchasing and connecting their hotspots. The users got paid in crypto tokens and voted on proposed ideas and changes to make the network ideal. When the token prices rose, the company would make more money and generate more hotspots.
When Helium founders released the new model, it worked like a charm and crypto enthusiasts rushed to set up Helium Light hotspots to generate crypto tokens. Since its launch, most Helium hotspots owners have generated thousands of dollars monthly through the crypto tokens, even though the earnings drop each day as the network adds more hotspots.
Who can use Helium?
All people can use the network as it is the people’s network. Even though most Helium users are companies like Victor Mousetrap, which utilize the network for its new internet-connected traps line, and Lime, which uses the Helium network to retain its connected scooters tabs. There are also more than 5000 Helium hotspots worldwide, with thousands of users joining the network daily.
Helium hotspots transmit data and award the data owners for being part of the network through a created crypto unit known as $HNT. You can purchase and sell the tokens on open markets like other cryptocurrencies. The more users utilize Helium Light Hotspots, the more it generates $HNT tokens.
Helium network has value. While hotspot owners benefit when $HNT prices rise while trading its tokens on crypto exchanges, they also make money when Helium adds new hotspots. Cryptocurrency is beneficial to the Helium network as it encourages participation and gives hotspots owners satisfaction of establishing something they own.
Helium Light hotspots are Helium’s decentralized network’s next generation. Its execution is currently one of the most significant network migrations. Part of it is that most hotspot miners stopped syncing Blockchain, which will significantly improve network performance and the amount of earned HNT by new Light Hotspots.
The people’s network represents a decentralized wireless infrastructure paradigm shift that Helium Blockchain powers. The migration is essential for the Helium network’s future development and the entire ecosystem and community. It will also enable the network to progress faster in the future and offer more privileges to helium hotspot miners’ owners.
All Heliummart customers should know that both Milesight and Browan Communication have their gadgets on Testnet and are working with their teams to ensure the migration is seamless for hotspot miners’ owners. While the migration approaches its deadline, Heliummart will keep its users informed about any arising news on the testing process and significant network changes.