There is no way to escape the Internet of Things (IoT) in today’s world, from personal to professional. People can control their time better with IoT connectivity of various devices, contributing to its increasing dependability.
By analyzing machine performance, logistics operations, and other metrics, it helps make smarter, automated devices for the home and business.
In addition to counting the IoT benefits, the blockchain-powered wireless connectivity platform, Helium (HNT), has grown 24.55% in 24 hours to reach US$22,530,259.
Helium (HNT) is what?
Helium is a decentralized wireless connectivity platform. It helps low–power wireless devices communicate with one another to exchange data across nodes. It uses blockchain technology to build a network for Internet of Things devices.
Helium was launched in 2019. According to its website, it has 642,421 hotspots currently.
By improving on the inefficiencies of the current infrastructure, the company hopes to build IoT communication for the future. Using it, users mine and earn rewards in HNT, the native cryptocurrency of Helium, using its Hotspots, a combination of blockchain mining and a wireless gateway.
Shawn Fanning, Sean Carey and Amir Haleem co-founded Helium in 2013. Haleem, the CEO, is an eSports coach and game developer who worked as CTO at the gaming startup Diversion before founding Helium.
Previously, Carey worked in different development roles and created an advertising optimization company, which PayPal later acquired. Fanning developed Napster, a peer-to-peer music sharing service in the 1990s.
There have been many changes to the Internet of Things since its launch. Helium’s decentralized network is called “The People’s Network” and aims to improve communication capabilities between wireless IoT devices.
According to Helium, network participants can purchase hotspots and also mine HNT tokens at the same time.
Price and Performance:
Helium (HNT) is trading at US$20.25, down 3.37% at 8:23 am ET, Monday; however, there is no proper evidence behind its fall lately.
The coin has a market capitalization of US$2.29 billion. HNT’s maximum supply is 223 million, and the circulating supply is 113,351,249.81 HNTs.
The Helium token is currently available for purchase on Binance, Bybit, FTX, Mandala Exchange, and KuCoin.
Bottom line
The company claims that the platform uses its wallet for asymmetric keys to increase users’ private key security. However, lately, many hacking and cyberattack incidents have occurred, and thus the users must exercise due diligence while using or investing in cryptos and related services.
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