Helium is the blockchain that powers the Decentralized wireless network, a people-powered network that is starting a wireless revolution. In this article, We demystify the Helium White Paper for you to get a lay mans understanding of the Helium Blockchain, the Helium Decentralized Wireless Network and how you can benefit from it.
With its native token (HNT), Helium is creating the new wireless technology, that flips the traditional model of building wireless services on its head.
Currently, Helium is Ranked the 60th coin on coin market cap, but what problem is Helium trying to solve and how can you benefit from it? let’s dive deeper for some answers.
Table of Contents
What Problem is the Helium (Decentralized Wireless Network) Trying to Solve?
Identifying and understanding the problems a blockchain is solving and the solution it intends to provide is crucial in understanding the actual use and future value of the coin.
Helium claims that current existing internet services are cost-prohibitive, too power-hungry and too limited in range.
That is a big problem to have, indeed the cost of internet service varies from country to country with some African countries having the highest cost of data per gigabyte.
As if these prices are not high enough, things are worse in some of the poorest nations on earth, towards limiting access to the internet.
These prices are indeed very expensive, and limits access to the internet, Helium Blockchain with its native token HNT hopes to solve these challenges by providing, easy access internet service by employing blockchain technology and decentralized wireless internet infrastructure.
This is how Helium is solving this high cost of internet service problem.
In simple terms, Helium is solving the high cost of the internet by allowing individuals like yourself to operate hard wares that would provide wireless access across a wide area.
The truth is that, while internet service prices are expensive, they are only expensive because internet service providers want it to be that way.
If you can connect to an internet backhaul, you could easily have access to ultra-high-speed internet service at a very cheaper price.
Helium is backing their hopes on individuals like you and me who have access to this high-speed internet to share them across a wireless area for others to use at a cheaper price.
To achieve this, the following players are involved;
- Device
- Miner or Router
Device in the Helium Decentralized Wireless Network
The idea with Helium is to enable you to have access to wireless internet from the comfort of your home at a cheaper fee. Your devices should be able to connect to these wireless hotspots across any country or community being serviced by the decentralized wireless network at a fraction of the usual fees.
Helium Decentralized Wireless Network Routers
These are the devices that connect to the internet backbone to provide wireless services for usage. Routers are also termed miners and earn by providing access to the internet.
Unlike the bitcoin network that miners burn electricity to provide stability for the network, Routers or miners in the Helium blockchain, provide internet access and are rewarded HNT tokens.
We believe Helium blockchain (HNT) is solving a real-world problem and have included them in our promising cryptocurrency projects list, below we are going to expand on how to buy and store and earn from HNT
Where to Buy HNT Tokens
You can buy HNT from the following exchanges;
Wallets to Store HNT Tokens
After you have successfully made your purchase, it is a good idea to move your coins off exchanges to a wallet that you have total control over. Here are the wallets that you can safely store your HNT tokens.
- Helium App; Available on both ioS and Android
- Ledger Wallet; Hardware wallet
Will HNT reach $1000
The total supply of HNT tokens is 223 million, at the time of press, only 45% of which is in circulation. If you look at the magnitude of the challenge that Helium is trying to solve, creating a decentralized wireless network across America, Europe and hopefully Asia and Africa, we have no doubt that there is going to be a huge demand for HNT tokens.
Helium network is only available in some parts of America and Europe and yet, the prices of these tokens are $22 at the time of press.
We have absolutely no doubt that with adoption, HNT could rise high above $1000 per token.
Why is HNT token Down
We expect that crypto projects with huge potentials such as Helium would continue to rise in value as adoption increases. However, fear and uncertainties even in other markets can cause a panic sell-off.
If you believe in the project, it is a great idea to focus on long term gains over short term price fluctuations.
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