Helium (created by Nova Labs) is an open-source blockchain supported by decentralized worldwide hotspots and devices that act as wireless access points and miners. The initial idea behind the creation of Helium is that it was supposed to supply long-range connectivity (or LongFi) to the Internet of Things (or IoT) devices, including a long-term connection to a decentralized network such as 5G. Follow Our website TheGossipsWorld Media for the latest updates!!!!!
Also referred to as the people’s network, people were awarded Helium coins (HNTs) by providing their personal devices (by making contributions to the network) for others to connect to. This network uses a very novel algorithm, the Proof of Coverage (PoC), that basically rewards users for providing coverage.
Users are thus rewarded in proportion to the coverage they provide. This way, the decentralized blockchain approach allows for the wireless infrastructure to grow at a more rapid pace. It will cost a fraction to employ compared to a traditional WiFi network.
Decentralized Tech in Use Already
Blockchain’s decentralization is being used by crypto. Crypto has become a globally recognized technology, applied by many leading businesses. Crypto’s primary use is as a payment method – outside of its use as an asset. However, digital payments from e-wallets aren’t necessarily new.
For instance, players who go to online casinos to play their favorite games like megaways slots know they will be able to deposit funds into their account via a variety of digital wallets. These faster and more secure transactions have been in use for many years. While crypto is an extension of this – not a negative – it’s nothing new. But decentralized phones – that is new.
Teaming Up With Notable Players
Nova Labs has teamed up with some notable industry players and formed partnerships with Cisco, Volvo, Dish Network, and Schneider Electric. The latest partner the company obtained in September is T-Mobile.
This partnership will enable Nova Labs to develop a new network (Helium Network). This is a tremendous win-for-all partnership as T-Mobile will be able to diversify its 5G network in a very cost-effective manner since it won’t need to spend money on building the infrastructure.
Additionally, users that are on the 5G network will be able to earn HNT rewards and grow the blockchain. The agreement between these two companies is set in stone for five years. The first launch is expected to take place within the first three months of 2023, and it’s expected to disrupt the telecommunications industry completely.
This contract gives users the benefit of two worlds. Firstly, their 5G coverage will increase considerably, and mobile phones will be able to switch between T-Mobile’s 5G network using the company’s existing infrastructure and the Helium network (depending on which signal is the most robust).
Additionally, Helium will release a new MOBILE token. Customers can look forward to rewards for using the Helium network and earn the new MOBILE token for agreeing to share their data across the Helium network. Lastly, mobile phone plans are expected to start at only £5 per month.
How Does PoC Work
The Helium network is powered by radio wave technology instead of the typical ASICs (application-specific integrated circuits) or GPUs (graphic processing units). Each hotspot is randomly and automatically tested to establish whether the cryptography can prove that the device provides radio coverage. HNTs are awarded if the test proves that there is radio coverage.
Each hotspot can also earn HNTs in proportion to the utility or value they contribute to the Helium ecosystem. This is done through completing PoC challenges, including witnessing peers’ performance on the network.
Helium and T-Mobile are busy building a state-of-the-art decentralized wireless network that has the potential to connect billions of users across the globe. Additionally, the blockchain can now cater to Proof of Work (PoW) which further secures the blockchain’s scalability. This has led to an ecosystem with a wide array of software and hardware solutions.
A growing Helium community has brought together many builders of hotspots, including developers, IoT companies, applications, and the partnership of an additional business like D-Web Technologies, which is working at expanding the Helium ecosystem rapidly by installing other hotspots
And deploying sensor solutions for world-class businesses. Incredible leaps and bounds have been made in addressing IoT connectivity issues as these devices increase daily. The Helium infrastructure could well be the new blueprint for wireless technology.