What is Helium?
Helium is a Cryptocurrency based on blockchain and its own ecosystem. It is officially launched on July 29, 2019. It is a new Blockchain designed for the public for wireless networks of nodes with decentralized features. Nodes are transferred from Hotspots. Hotspots are a combination of a wireless and a Blockchain mining device. The major goal of Helium is to refine and prepare the Internet of Things (IoT) for the future.
How does Helium Mining Work?
When you mine Helium the device creates a wireless network by providing connectivity for a class of Internet of Things (IoT) devices. In reward, you get paid for $HNT cryptocurrency. Helium is mined by using a special designed device, which is different by every country’s frequency. You will be paid on the basis of how much you have covered coverage of the helium network. Simply, your earned $HNT is calculated on the basis of Proof Of Coverage algorithm.
The code of Helium Mining is fully open-sourced, so everyone can contribute to the project by their will. As per the data of 01/03/2022 7:30 pm (JST) HNT coin is worth $40.36 with a market cap of $4,253,598,610Helium is ranked as the 43rd largest Cryptocurrency on the market as per Coinmarketcap.
How to mine Helium?
Helium is mined by a small hotspot device. It is more convenient than the large GPU minings. You have to use radio technology to mine Helium, not the GPUs. It consumes less electricity and it has a simple setup procedure.
When you have a Hotspot device and internet you can download Helium mobile app on your mobile and activate your Helium hotspot. By transferring data from hotspots, you can start earning.
What is Hotspot?
Hotspots are wireless networks, which provide low-power data to the internet and receive data too. It has a Peer- to Peer feature. Hotspots are nodes of the Helium Network. You must have Helium Hotspot to offer a helium network, in return you will be rewarded by HNT by the coverage you have provided.
Helium Miner Price and Its Frequency
As previously mentioned every country has different frequency plans and regulations. So, Helium miners have different price zones . Price will be different as per frequency you choose. It costs $300-$600 depending on the model and hotspot you choose.
Before purchasing the Hotspot you must do research about which frequency you can use as per your place .
- EU – 868
- AU – 915
- AS – 923
- CN – 470
- RU – 864
- IN – 865
- KR – 920
- US – 915
You can check LoRaWAN Frequency Plans and Regulations by Country to know about your country’s frequency.
The Reward Process?
Helium Mining is totally based on Proof of Coverage (POC) Algorithm. When you distribute a network through Hotspot you will be rewarded by HNT Cryptocurrency in return.