Helium, the ‘New Wireless Economy’ intends to flip the traditional telecom model of building the wireless infrastructure upon the basic ones. The main goal of the ecosystem is communication within the network and across the other networks. Helium, which terms itself as the ‘People’s Network’ uses a Burn-and-Mint equilibrium token model using two units of exchange: HNT & Data credits.
HNT is the native token of the ecosystem and pays the transaction fees while transferring the data over the network. HNT is mined and distributed to the Hotspot owners, Helium Inc contributors, and the Investors. The Hotspots are nothing but the Nodes which are an amalgamation of a wireless gateway and a blockchain mining device.
About Helium(HNT) In Brief!
Helium is a blockchain-based Internet of Things(IoT) device that is said to be completely decentralized. The network was founded in 2019 by Amir Haleem, Shawn Fanning, and Sean Carey who collaborated way back in 2013. The mainnet is designed to allow low-powered wireless devices to communicate with each other and also with other nodes across the network.
How Helium(HNT) Works?
The main objective behind building Helium is to build such a network that connects to the internet without the need for wires, from any part of the world. There are many components of the Helium network that ensure the smooth running of the network.
- Helium Consensus Mechanism
The Helium protocol works on its pre-defined principles and hence the flow is pretty clean and clear. Firstly, the Hotspots or the Nodes are recognized and permitted by the network. Later, the network acknowledges the leveraging factors like the energy costs or hardware deployed, etc.
Next, the network uses the HoneyBadgerBFT(Byzantine Fault Tolerance) mechanism to record the capability of the network to withstand the failures. Finally, the hotspots select or deselect the transactions to be included in the block.
- Helium Decentralized Wire Network(DWN)
The Helium DWN is the key to the world of wireless Internet of Devices including multiple independent miners. It includes the WHIP services which is an open-source wireless network built to connect the low-powered devices.
- Proof-of-Coverage & Proof-of-location
Proof-of-Coverage(PoC) algorithm is the mechanism followed by Helium which verifies whether the hotspot location is the same as claimed by them. Where-as the Proof-of-location determines the physical location of the device using the WHIP mechanism.
Will Helium(HNT) Hit $100 in 2021?
Helium price initiated its trading journey very well, recording highs at $8, but quickly fell into a deep bearish well. The asset remained low-key and trended below $2 until the beginning of the 2021 bull run. Further, the HNT price rallied high to hit the highs around $23.5, but the recent jump after a prolonged consolidation below $30 struck the highs at $59.27.
However, the Helium HNT price yet again plunged heavily and reached $25 levels yet again before achieving the current levels around $40. The technicals are pretty bullish and hence one can expect a healthy uptrend with the token. With an extended rally, the asset could hit its previous ATH and attain levels close to $70. However, $100 appears to be pretty tough as 2021 is coming to an end.
Factors Affecting Helium(HNT) Price Today
Helium-The 5G Substitution
The Helium network is currently providing a substitution to the 5G cellular network offloading as it provides a decentralized connection for the IoT devices. It is also responsible to provide these facilities to the IoT devices and smartphones operating in the US Band Citizens Radio Service. It also intends to collaborate with mobile operators and service providers.
It’s a device by which users can easily become Nodes on the Helium network. One can plug in the hotspot and create a node on the distributed network. It offers connectivity without sim cards with unlimited data usages.
Huge User Acceptance
With the unique features of the Helium network, many companies are using this network in their business model.
The MACD is showing a mounted selling pressure which may ease in the next couple of hours.
And hence the asset may undergo a notable flip from the bearish well. On the other hand, the RSI which shows the strength of the rally is slightly diverting from the downtrend, which is pretty bullish.
Where & How to buy Helium(HNT)
Helium token due to its immense recognition has gained access to popular exchanges. While investing in HNT token on CoinDCX may give you a good user experience. The CoinDCX platform believes in educating the troops with relevant and authentic data with recent crypto updates.
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