What is Helium?
Helium is a blockchain that bases its operation on a kind of WiFi called LongFi. The Helium network actually enables your device to connect with its constituent nodes thanks to a bi-directional ultra-long-range radio transmission protocol, which is also energy-efficient. Helium changes the Proof-of-Work (PoW) paradigm and aims to streamline the mining phase, enabling users – with little initial outlay – to participate in block validation. To mine the Helium cryptocurrency (HNT), you simply install a hotspot at home.
Why follow Helium?
Helium’s consensus mechanism consists of the Honey Badger BFT protocol and the Proof-of-Coverage mechanism. The former ensures consensus in a network where not all nodes are always online, since they’re hotspots. In fact, the Byzantine Fault Tolerant is known for its ability to ensure network functionality, even in the case of malicious or inactive nodes.
The second is the participation incentive mechanism, which checks that hotspots are active and rewards them with HNT.
With this system, Helium seeks to create an Internet of Things through the decentralised collaboration of hundreds of companies and individuals worldwide. The global scope of the network is evident from its nickname: The People’s Network.
How was it created?
Helium’s evolution started in 2013 when the IoT began to make headlines. It was developed by Amir Haleem, Shawn Fanning and Sean Carey. A trio with different backgrounds. Heleem was an eSports veteran, Fanning was one of the Napster programming team, and Carey was experienced in web marketing.
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