Decentralised WiFi Token Helium Up 81% Following First Governance Vote

November 13, 2021, 10:15 AM AEST - 3 weeks ago

Helium (HNT) is in the process of building “the world’s first peer-to-peer wireless network” by utilising blockchain technology. The community has recently started participating in its first governance vote, spurring the token price to new all-time highs.

The altcoin project Helium (HNT) has opened its first on-chain vote, allowing community members to nominate Helium Improvement Protocols (HIPs) that let the community decide on some of the project’s governance mechanisms.

The explosive price movement also follows an announcement from DISH Network late last month detailing a new partnership with Helium, stating that “DISH will be the first major carrier to utilise the Helium Network’s unique blockchain-based incentive model with customers deploying their own 5G CBRS-based hotspots”.

Helium HNT/USD price chart.

Helium (HNT) shot from a low of US$29.60 on November 4 to US$54.05 in just seven days, an explosive 81 percent rally and a 150 percent total gain over the past two weeks.

A growing number of Aussies are also helping to set up a network of Helium wireless hotspots that reward their owners in Helium Network Tokens (HNT).

What Is Helium About? 

Helium is a decentralised internet network that currently has over 300,000 hotspots worldwide. These 5G hotspots are the backbone of the network the team is trying to establish, and it also has capabilities for creating distributed IoT networks of smaller devices connected to the network.

By connecting to the Helium network, connectivity costs are a fraction of those associated with cellular without the restrictions. Unlike cellular, Helium companies never have to pay for SIM cards, worry about data caps, or be charged for overage fees since users use a p2p network and not a cellular network.

At this stage, there are only a few nodes in major cities in Australia where people generate HNT for sharing their WiFi.

Helium coverage of Australia.

By using Proof-of-Coverage, a unique work algorithm that uses radio waves to validate hotspots is providing legitimate wireless coverage, where miners get compensated for verifying network transactions, adding new blocks to the blockchain, and performing other tasks.

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