Aside from cryptocurrencies like Bitcoin and Ethereum, a new contender is hoping to play in what deems a key component in the crypto industry of mining.
The internet continues to grow more vital in our everyday world. Computers and devices are increasingly predominant in our world with the digital age making it necessary for us to have to connect for any and every purpose.
That can be as simple as reading a book, entertainment, or business. It can then power our home in a “smart” capacity from the most insignificant feature like a light bulb to maneuvering a sophisticated vehicle.
These objects, like perhaps, a smartwatch, have to remain connected to function adequately and continuously. WiFi networks provide users with a password for security. But is there an easier, more straightforward solution? Who is the new mining player? Let’s find out as many FAQs as we can.
The Fundamentals Of Helium (HNT) Hotspots
(HNT) Helium is a blockchain (decentralized) network operating on the IoT (Internet of Things). Unlike many coins in the market, it provides real-time use. It’s a crypto hotspot traded for wireless coverage. You earn it in the form of HNT coins after that coverage you provide is validated. A device’s network connects with the Internet via Hotspots.
Helium networks, launched in 2019, allow wireless interaction between lower-powered devices, with each sending data through their node networks. Hotspots encompass nodes that involve a blockchain mining component and a wireless gateway meaning users working with these nodes can mine within these communities and receive rewards in HNT (Helium). Go to https://www.coinbureau.com/review/helium-hnt/ to learn about hotspots in the world of IoT and blockchain.
The suggestion is that the intention with Helium is to create a more refined connection for IoT to move forward into the future. The reference is that Helium is “The People’s Network” since the network is developed and operated by the average person and secured and validated by nodes or Hotspots.
Helium (HNT) Mining FAQs
Mining cryptocurrencies can prove complex and confusing for those just getting involved in the process. With helium hotspots being a relatively new player in the market, many questions arise relating to the concept. It’s essential to gain an understanding before diving into the process. As they say, “knowledge is power.” So let’s educate with a few FAQs.
#1 What is Helium
The Helium spoken of in this respect is used in an attempt to develop a decentralized IoT community or network on a “LoRaWAN” technology, referenced as “LongFi” in its rebranding.
The community comprises hotspots contributed by users which will then increase coverage. The devices carrying the hotspot coverage can be used in those areas to send back data to the internet.
The contributors of hotspots become Helium“miners” of the HNT (Helium) blockchain with their coverage validated by sending “beacons” to other nodes and witnessing others coming back to them.
Owners receive a portion of tokens they can exchange reminiscent of cryptos. Any device that participates in the network can purchase data credit. Any time you send a package, you release some of that credit that then converts into HNT for the owner of that hotspot.
#2 Which devices can use Helium
LongFi (LoRaWAN) offers varied use cases. The technology equates to a low bandwidth/low power source, making it perfect for those devices that work with small data or need to last for extended periods on batteries. These aren’t practical for a high bandwidth app like video or images. Some uses would include:
- A smart city: tracking assets, people counter, monitoring transport
- Smart buildings: predictive cleaning, heat monitoring, lighting, smart meters, occupancy sensors
- Monitoring environment: water quality, temperature, rainfall, quality of air, humidity
And so much more. The suggestion is there are plenty of Helium-compatible “end devices” you can obtain off-the-shelf from various vendors. Still, they need to conform with (OTAA) Over The Air Activation practices and LoRaWAN standards.
#3 Why would you not simply use maybe 5G or perhaps WiFi
Wouldn’t WiFi or even perhaps telco make more sense than LoRaWAN? Let’s see.
- Some devices pose security issues for other devices within networks. If you consider newsworthy stories relating to hacks with CCTV cameras, it’s a common threat.
- Battery-powered devices need a less expensive option than WiFi can provide, be it they need to function for several days on end.
- WiFi operates on a relatively short span.
A telephone network combined with a sim card is fairly power-hungry in the same respect as WiFi requiring a more permanent power option. Plus, the monthly cost to your provider for the services can add up, given the ultimate purpose.
LongFi offers broad coverage in comparison to a traditional WiFi option plus lower power needs and substantially lower expense for data transfer.
A LoRaWAN device can go in a place with a hotspot range made specific for no maintenance and function on batteries for up to five years. In addition, the community can deploy the hotspot since it’s a “people’s network” if there is a need for coverage in a certain spot where a telco-controlled option couldn’t do that. These can also cover traditional mobile networks when a device finds itself in a dead spot.
Hopefully, this answers a few questions concerning HNT (Helium) mining. Go here for details on Helium mining in general. Before purchasing or hosting a hotspot, make sure to research and become thoroughly educated. It’s vital to always be informed before making a significant commitment.