Helium

Overview

Helium is a decentralized wireless network built on blockchain technology that aims to provide Internet of Things (IoT) connectivity. The network is powered by individual users who operate wireless hotspots, earning HNT tokens as rewards for providing network coverage.

Purpose and Utility

The primary purpose of HNT is to incentivize the creation and maintenance of a decentralized wireless network. Hotspot operators earn HNT for providing coverage and validating wireless coverage for other hotspots. The token is also used for network governance.

In 2022, Helium underwent significant changes, migrating to the Solana blockchain and expanding beyond IoT to include 5G cellular coverage (MOBILE) and WiFi (IOT) subnetworks.

Business Model Analysis

The business model revolves around providing actual utility through wireless network infrastructure. Hotspot operators provide a tangible service (network coverage) and receive compensation in HNT. The network serves real businesses and devices, with actual data transfer occurring.

Real-World Adoption

As of 2023, the network has over 1 million deployed hotspots globally. Partnerships include DISH Network for 5G coverage and various IoT companies. While adoption for actual data transfer remains relatively low compared to the number of hotspots, the network continues to expand its coverage and use cases.

Development Activity

The project maintains active development, with recent major updates including the Solana migration and the introduction of multiple subnetworks. The developer community regularly updates the protocol and creates new applications for the network.