Helium is a crypto project that is experimenting with Proof of Coverage consensus protocol. This system requires miners to transmit data over the network in order to validate the blockchain. With the number of miners deployed reaching 1 million the strength of the People’s Network is growing daily. As always this isn’t financial advise but a look at a very interesting crypto condition.
The Helium dreamers see a future where Helium outcompetes all the major cellular providers such as Verizon and AT&T. This would be done by decentralizing the transmittal network. Instead of having large corporations running large cellular towers that do not provide full coverage you would distribute that data on a network of hotspots that people create. Hotspots are small computers running a radio signal that use as much electricity as a lightbulb and connects to internet (wifi or ethernet) in order to sync to the blockchain and become a contributor to the network. Anybody is allowed to run a miner, the profitability of the miner is connected to the density of miners in a given hex and the radio signal that is being used to beacon. Currently HNT has not been very profitable and a 4-5 year ROI on miners in to be expected with current industry rates and rewards. The picture above is the HNT Explorer interface which is an open tool for the public to track the global HNT network.
To some this isn’t a bad investment as the miner collects passive amounts of HNT at low cost and difficulty of operation. If big companies like Verizon and AT&T find a cost incentive to decentralize then the future of HNT is bright. The ability to pay local miners to transmit data to cell phones and other IOTs (internet of things) could create a better cellular network in the future. Here is a great video interviewing and project manager who worked directly in the cellular signal business that has become optimistic about HNT and the future of the People’s Network as a Pay to Transmit system.
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