Today we are going to have a closer look at The People Powered Network i.e. The Helium Network. The People Powered Network as the Helium Company mentions it, Is a LoraWAN based Network that provides coverage through the Gateways and Miners that people place at their houses or at their property that's why it is referred to as People Powered. In return, The company rewards the people in the form of cryptocurrency named HNT i.e. Helium Network Tokens. These tokens are credited to the people's account according to the service their hotspot provides to the network.
The Helium Network provides people like us a platform to connect our LoRa devices to the Application Servers by taking a very nominal fee and in this complete process, No Internet or any other cellular network is used. The complete Network works on LoRaWAN coverage that the hotspots placed by the people provide.
So far you should have felt that the Helium Network has the potential to be the next big thing in the technology world and there is a good earning prospect in this as well. So let's have a closer look at it.
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About Helium Network
Launched in July 2019, Helium is a distributed network of long-range wireless hotspots. The goal is to create a blockchain-powered network for the Internet of Things (IoT) devices creating what they call “The People’s Powered Network”. Helium is a global, distributed network of Hotspots that creates public, long-range wireless coverage for LoRa-enabled IoT devices. If you want to learn about LoRa in detail, you can check our video about that from here
Hotspots produce and are compensated in HNT, the native cryptocurrency of the Helium blockchain. The Helium Blockchain is a new, open-source, public blockchain created entirely to incentivize the creation of physical, decentralized wireless networks. Today, the Helium blockchain, and its tens of thousands of Hotspots, provide access to the largest LoRaWAN network in the world.
The Helium Network is a physical wireless network that succeeds based on the amount of reliable coverage it can create for users deploying connected devices on it. As such, it required a working algorithm that was built for this case. Proof-of-Coverage takes advantage of the unique, undeniable properties of radio frequency (RF) to produce proofs that are meaningful to the Helium Network and its participants. Specifically, PoC relies on the following characteristics:
RF has limited physical propagation and, therefore, distance
The strength of a received RF signal is inversely proportional to the square of the distance from the transmitter
RF travels at the speed of light with (effectively) no latency.
The blockchain is constantly interrogating Hotspots using a mechanism known as a “PoC Challenge” using these properties. The ultimate power of Proof-of-Coverage lies in the fact that the data generated by the ongoing proofs and stored in the Helium blockchain is definitive verification of the wireless coverage provided by Hotspots on the Network.