Saturday, June 10, 2023

Helium’s New Device for Mining


Helium’s ambition to build a decentralized wireless network could be taking off.

The business intends to build a token-powered wireless network for IoT devices. It revealed Tuesday that it is no longer the exclusive supplier of Helium hotspots, which fuel the Helium platform by mining the program’s HNT cryptocurrency.

Helium wants to build a new type of wireless network that can handle traffic from low-power programs like location monitoring. While being entirely autonomous and different from conventional telecommunications networks. While Helium manages the network, it is peer-to-peer, which means people who own and operate their own nodes built it.

Consumers have been able to purchase and operate one of the bologna-sandwich-sized hotspots for upwards of a year. It functions as a network node (using low-bandwidth wireless technology called LongFi) and reimburses the owner by mining HNT crypto coins.

The RAK Hotspot Miner

The only way to acquire a hotspot prior to today would have been to purchase one from Helium for $495 each. The RAK Hotspot Miner currently is in offerings in North America and will be accessible in Europe and Asia soon. It costs $249, or nearly half of that. Cal-Chip, an online IoT gadget retailer, will be the sole distributor. As per the firm, the elements are essentially equivalent to Helium’s model. But RAK can provide a cheaper price because it can make use of economies of scale that Helium cannot.

Enthusiasts primarily purchased Helium’s hotspots. They recognize the benefit of a reduced network or businesses looking to capitalize on the technology.

A business intends to utilize the network to monitor the whereabouts of its rental scooters. For example, it can swap HNT for information credits, something Helium also maintains and has a predetermined price in dollars. The more hotspots in a given area, the better the tracking. Which, as per Messari, would likely increase the need for HNT, which was selling at $1.75 at the time of writing.

RAK Hotspot Engages More Miners

With the RAK Hotspot reducing the entrance barrier, more Helium consumers may decide to buy them. This is just for the purpose of mining the cryptocurrency. If that unfolds, and those individuals disperse enough, Helium’s vision of decentralized wireless (DeWi) may begin to take shape. Therefore, it transforms all those hotspots into lucrative assets.

“Developing wireless infrastructure in this manner and enabling decentralized internet access a single body does not govern is a must-have milestone in the advancement of the internet,” Haleem added. To be honest, the current ecosystem of low-power entry points and gateways is in shambles. As a result, it’s fantastic to see a third party begin to invest in the core infrastructure.

Helium’s innovation is impressive, but it isn’t yet widely famous. Even though the company claims to have sold over 12,000 hotspots, public network statistics show that just 8,641 are operating. While this may appear to be a large number, it requires between 100 and 200 hotspots to put a single city “online.”

A few well-known organizations employed Helium’s technology, like Lime and Salesforce, but it’s still early days.

In other words, Helium has a long way to go to attain its decentralized wireless ideal in the skies. Its bubble could burst at any moment. However, now that RAK Wireless has joined the team, the burden of that voyage is a little less.

Miguel Garcia
Miguel Garcia
Miguel Garcia is a writer for Cryptoconstellation. Miguel has always been fascinated with Crypto. He has experience in Business and finance. Miguel loves sport cars and football.

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