By 2025, most electronics will contain some level of smart technology, enabling them to connect and share data. This interconnection of devices is known as the internet of things.  Helium IoT blockchain that makes Helium mining possible, is a secure network for the internet of things that is ready to meet the demands of a connected digital world.

Helium, the IoT Blockchain Network

An enormous amount of data is being generated by users; using smart devices; corporations analyze this data to improve their products and create business value. Well, let’s think about the logic behind this. Users generate valuable data, but corporations get all the benefits. After using IoT blockchain, users will be surprised to find out that they will be paid a portion of the sole user data through the Helium blockchain network because they do create value, and they remain in control of the data. They generate the decentralized nature of the Helium Blockchain network, which is actually a global, distributed network of Hotspots that has created public, long-range wireless coverage for LoRaWAN technology-enabled IoT devices.

Helium network ensures your information remains secure. Well, at the same time, you can choose to provide your data to third parties who want it. Businesses can analyze massive amounts of data, but users are the ones who are always in control of what to share.

What is Helium Mining?

Users can also do Helium mining ($HNT crypto), using compatible Helium Hotspot miners that are very simple to install. They actually earn, or simply saying, get rewarded by building and expanding the coverage for The People’s Network using approved Helium Hotspots, and this is called Helium mining. Proof-of-Coverage, Relay Device Data, and Consensus Groups are 3 methods of earning HNT tokens.

Using a hybrid approach of blockchain, Helium mining rewarding has made it possible to create a decentralized IoT network, which is expected to handle numerous transactions per second.

Helium combines asymmetric cryptography and a distributed structure to store information without a data center. It does solve not only equipment security problems but also protects device and user data sovereignty and privacy.

The Helium blockchain chain network requires a predictable and cheap fee for value transactions for security purposes. Helium, The People’s Network, the solution has already been integrated by millions of device manufacturers. Also, Helium architecture supports smart contracts. There are many applications for IoT blockchain and real-life smart devices, sharing economics, manufacturing, transportation, healthcare, renewable energy, public safety.

The People’s Network

The People’s Network creates an entirely new wireless economy that flips the traditional telecommunication model of building wireless infrastructure on its head. In the Helium mining ecosystem, the $HTC token acts as a carrier of value and ownership exchanged among intelligent devices, which is called Data Credits. Devices use Data Credits to exchange data on the Helium people’s network, also for the blockchain transaction fees. Burning HNT creates Data Credits that are non-exchangeable and are tied to a single user. The more devices, including Helium Hotspots, Gateways, Sensors, and endpoints, using Data Credits, the more Helium Crypto HNT will be burned.

Helium Mining is all about using a Burn-and-Mint Equilibrium token model, and The People’s Network utilizes two units of exchange: HNT crypto and Data Credits.

As more devices join the network, the demand for $HTC tokens grows. As people need tokens to facilitate transactions, companies that wish to test and use the IoT blockchain network will need to purchase $HTC over the counter to burn and get Data Credits in return, which adds to the demand as well.

If you want to learn more about Helium mining or Helium Hotspots, feel free to contact sales@choovio.com, and we will be more than happy to assist.