What is Helium?
Introduction to the Helium Network
The Helium Network offers cost-effective wireless connections globally, fostering new connected applications, reducing operational expenses for businesses, and expanding the reach of existing networks over the past four years.
Central to this decentralised network is the Helium Foundation, which nurtures its growth and responsible maturation by managing the ecosystem's builders and users.
The Helium Foundation (formerly the Decentralised Wireless Alliance) is a US-based 501(c)(6) non-profit dedicated to the proliferation of a secure, cost-effective internet. As the governing and community steward for the Helium Network, the world’s first decentralised wireless network, the Helium Foundation exists to benefit the wireless industry and its stakeholders as a driver of ecosystem development, network governance, and public education.
Helium Network Token (HNT)
The Helium Network Token (HNT) is the native cryptocurrency and protocol token of the Helium Network (the Network).
Unique to HNT is its ability to be converted into Data Credits, essential for device data transmission. Other tokens within the network, like IOT and MOBILE, derive their value from HNT as it's redeemable for them. HNT is necessary for network utilisation.
There hasn’t been any pre-mining of HNT, and it has a capped supply of 213.23 million HNT.
Data Credits (DC)
Data Credits (DC) are the sole accepted payment for transmitting data across The People's Network. Each Data Credit has a fixed price of $0.00001 USD. Analogous to prepaid cell phone minutes, Data Credits are non-transferable and can only be spent by their holder.
Incentives within the Helium Ecosystem
In the Helium ecosystem, there are various subnetworks. However, each of these subnetworks has the autonomy to perform different types of work, offer distinct services, and set its own rates for users wanting to access and utilise its services. To put this into perspective:
- The IOT network charges users at a rate of 1 Data Credit (DC) for every 24-byte packet of data they send or receive.
- On the other hand, the MOBILE network has a different pricing model. It charges users the equivalent of $0.50 for every gigabyte (GB) of data used.
Now, there's a reward mechanism in place for these subnetworks. The more data that's transferred on a subnetwork, and consequently, the more DC that gets "burned" or used up, the more Helium Tokens (HNT) the treasury of that subnetwork earns. This creates an incentive for the subnetworks to facilitate more data transfers.
Helium Foundation vision
Network Governance Stewardship: Establishing and refining decentralised governance frameworks for enhanced coordination and inclusivity.
Ecosystem Enhancement: Supporting newcomers, streamlining user experiences, collaborating with developers/providers, managing the community, and funding Network expansion initiatives.
Public Education: Advocating the merits of decentralised wireless to business executives, legislators, and the general populace.
Open-Source Protocol Leadership and Technical Operations: Noteworthy is the migration to the Solana blockchain for improved Network scalability, with the Foundation assuming protocol development and management from Nova Labs, furthering infrastructure development to cater to various applications, providers, and network operators.
The Helium Network has evolved into a powerful force for global wireless connectivity in just four years, offering cost-effective solutions, expanding network reach, and fostering innovation. Central to its success is the Helium Foundation, actively guiding its growth and governance. The Helium Network Token (HNT) and Data Credits (DC) play pivotal roles, while diverse subnetworks incentivise data transfer, ensuring a thriving ecosystem. The Helium Foundation's Membership Program encompasses a comprehensive vision, embracing governance, ecosystem enhancement, education, and technical leadership. As the network looks ahead, it aims to educate, strategise, evolve incentives, and optimise, all while upholding the spirit of collaboration that propels it towards a future where wireless connectivity knows no bounds.
For those interested in acquiring Helium Network's native token, HNT, it's now easier than ever through the SwissBorg app. Users can seamlessly purchase HNT on the SwissBorg platform, broadening accessibility to this valuable asset. With SwissBorg's user-friendly interface and a wide range of supported payment options, obtaining HNT is a straightforward process, enabling more individuals to participate in the Helium Network and its transformative wireless connectivity solutions.