HNT/USD: Convert Helium (HNT) to United States Dollar (USD)

Helium (HNT) is a decentralized network powered by blockchain technology, designed to facilitate communication between Internet of Things (IoT) devices. Launched in 2019, the Helium mainnet enables low-powered wireless devices to interact and transmit data across its network of nodes. These nodes, known as Hotspots, function as both a wireless gateway and a blockchain mining device. Operators of these nodes mine and earn rewards in HNT, the native cryptocurrency of the Helium network. Helium's primary objective is to enhance IoT communication infrastructure, addressing the shortcomings of current systems.

Helium operates through a unique consensus mechanism known as proof-of-coverage (PoC), which is based on the HoneyBadger BFT protocol. This protocol allows nodes in the network to reach consensus even when connection quality varies. Hotspots, which are a combination of a wireless gateway and a miner, are purchased by network participants or built independently. Each hotspot provides network coverage over a certain radius and mines Helium’s native token, HNT. Users also pay transaction fees in a separate token called Data Credits, which are non-exchangeable and tied to individual users themselves.

Helium seeks to improve the communication capabilities of wireless Internet of Things (IoT) devices. Its core appeal is to device owners and those interested in the IoT space, with financial incentives providing further outreach possibilities. The network is designed to facilitate communication between low-powered wireless devices, preparing IoT communication for the future. This makes it a potential game-changer for industries and sectors that rely heavily on IoT devices, such as smart homes, agriculture, logistics, and environmental monitoring.

Helium was founded in 2013 by Amir Haleem, Shawn Fanning, and Sean Carey. Haleem has a background in eSports and game development, while Fanning is known for developing Napster, one of the first mainstream peer-to-peer internet services. Carey held multiple development roles prior to Helium, including at advertising optimization firm Where, which was acquired by PayPal. The Helium team comprises members with experience in radio and hardware, manufacturing, distributed systems, peer-to-peer, and blockchain technologies. The Helium mainnet was launched in July 2019, and as of October 2020, there were over 48 million HNT in circulation.