About Helium (HNT)
Helium (HNT) operates as an open-source, public blockchain designed to enable Internet of Things (IoT) devices managed by HNT holders to communicate and transfer value through its nodes. Helium’s nodes are the backbone of its wireless networking protocol LongFi, which provides long-range decentralized WiFi. Node operators provide connectivity by running Helium hardware, for which they are able to earn HNT tokens.
Helium’s consensus protocol, Proof of Coverage (PoC), is based on a variant of the HoneyBadger Byzantine Fault Tolerance (HBBFT) protocol. It entails a consensus group of elected validators receiving encrypted transactions as inputs and subsequently reaching consensus on the transaction order before forming a block and adding it to the blockchain.
Helium migrated to the Solana blockchain in April 2023. The move was expected to increase the speed and scalability of Helium's network, which allowed users to earn Helium tokens by providing wireless coverage. With the migration, Helium aimed to offer lower transaction fees and faster confirmation times for users of its ecosystem. With the migration, Helium joins a growing number of blockchain-based projects that have chosen Solana's reported high-performance blockchain for their infrastructure needs.
The network cryptocurrency, HNT, is used to power operations and reward Helium miners. The current price of HNT is updated and available in real time on Binance.
