Helium
Crypto Overview
Project Overview
Helium is a decentralized wireless network that enables IoT (Internet of Things) devices to connect and transmit data. The project rebranded to Nova Labs in 2022 and migrated to the Solana blockchain in 2023. The network operates through community-owned hotspots that provide wireless coverage and earn HNT tokens as rewards.
Intended Utility
The primary purpose of HNT is to incentivize the creation of a decentralized wireless network infrastructure. Hotspot operators earn HNT for providing network coverage and validating transactions. The token also serves governance functions within the Helium ecosystem.
Actual Utility and Adoption
The network has over 1 million deployed hotspots globally. However, actual IoT device usage remains relatively low compared to the network capacity. In 2023, Helium expanded to include 5G cellular coverage through MOBILE tokens and WiFi coverage through IOT tokens, both subnetworks of the main HNT ecosystem.
Token Distribution and Economics
The initial token distribution allocated 35% to Helium investors and team members. Nova Labs (formerly Helium Inc) received 21.7% of the initial supply. Emissions follow a predetermined halvening schedule every 2 years. Tokens are burned when used for transaction fees and device data transfer.
Development Activity
The project maintains active development with regular updates and improvements. The migration to Solana demonstrated significant technical progress. The developer community continues to build applications and tools around the network.
Founder and Team Assessment
The founding team has extensive experience in technology and telecommunications. Nova Labs continues to lead development while working toward further decentralization. No significant red flags regarding founder behavior or token manipulation have been identified.
Crypto Impact
To assign a comfort level investing in Helium from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Helium.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
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Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
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