Helium Coin: Worthy Investment Or Just Another Crypto Gamble?

Helium (HNT) is a decentralised blockchain-powered network for the Internet of Things (IoT) devices. It was founded in 2013 by Amir Haleem, Shawn Fanning, and Sean Carey. As of April 2021, it was the eighty-seventh leading cryptocurrency. As of April 2024, Helium's market cap is over $1 billion. As of August 2024, its 24-hour trading volume is around 21.93M. According to forecasts, the value of Helium will increase by 246.25%, reaching $24.31 by the end of 2026. This article will explore whether Helium coin is a good investment.

Helium's blockchain-powered network

Helium is a decentralised blockchain-powered network for the Internet of Things (IoT) devices. It was founded in 2013 by Amir Haleem, Shawn Fanning, and Sean Carey. The Helium mainnet was launched in July 2019, providing low-cost wireless devices to connect and transmit data through its network of servers.

Hotspots, which are a hybrid of a wireless gateway and a blockchain mining device, are used as nodes. Users who run nodes earn Helium's native cryptocurrency token, HNT, as a result of their contributions. The system is powered by proof-of-coverage, a consensus algorithm that permits network nodes to reach a consensus even when the connection strength is highly volatile.

Users in the network can either buy or create their Hotspots. Every hotspot maintains network coverage within a specific range while mining Helium's native coin, HNT. The cryptocurrency had a maximum supply of 223 million tokens as of April 2021.

Helium's blockchain network focuses on improving supply chain logistics in the construction and infrastructure sector. The company's group includes representatives with expertise in radio and equipment, production, distributed systems, peer-to-peer and blockchain technologies.

Helium's price predictions

Helium (HNT) is a decentralised blockchain-powered network for the Internet of Things (IoT) devices. As of April 2021, it was the 87th leading cryptocurrency.

As of April 14, 2021, Helium was trading at around the $15.35 level. Since June 2020, it has been as low as under 28 cents and as high as $19.50.

According to a price prediction from August 12, 2024, Helium is expected to increase by 246.25%, reaching $24.31 by the end of 2026. The same prediction estimates that Helium could reach $30.13 in 2028, $48.16 by the end of 2030, $69.39 by the end of 2031, $96.56 at its highest in 2032, and $130.68 by the end of 2033.

Helium's market cap

Helium (HNT) is a decentralised blockchain-powered network for Internet of Things (IoT) devices. Launched in July 2019, the network allows low-powered wireless devices to communicate with each other and send data across its network of nodes. These nodes are known as Hotspots, which are a combination of a wireless gateway and a blockchain transaction processing device.

The Helium network operates on a proof-of-coverage consensus algorithm based on the HoneyBadger BFT protocol, which allows nodes to reach a consensus even when connection quality varies. Users pay transaction fees in a separate token called Data Credits, which are non-exchangeable and tied to individual users.

The current market cap of Helium is $814.01 million, with a circulating supply of 160,875,441.824 HNT. The price of Helium has decreased by 1.07% in the last hour and increased by 2.16% in the past 24 hours. The current price is $5.06 per HNT, with a 24-hour trading volume of $14.78 million. The highest price paid for Helium (HNT) is BTC0.0009676, recorded on November 12, 2021, while the lowest price was BTC0.00001605, recorded on April 18, 2020.

The market cap of a cryptocurrency refers to the total market value of its circulating supply. It is calculated by multiplying the price per share by the number of shares readily available in the market. The market cap of Helium is a measure of how highly valued the asset is by the market. With a market cap of $814.01 million, Helium is ranked #139 among tradable assets on Coinbase.

Helium's creators

Helium was founded in 2013 by three co-founders: Amir Haleem, Shawn Fanning, and Sean Carey.

Haleem has experience in eSports and game advancement. Fanning is most recognised for founding Napster, the music-sharing service that became one of the first widespread peer-to-peer (P2P) internet services in the late 1990s. Before co-founding Helium, Carey worked in several development professions, including at an advertisement optimization company owned by PayPal.

Helium's group currently includes representatives with expertise in "radio and equipment, production, distributed systems, peer-to-peer and blockchain technologies," according to the company.

Helium (HNT) is a blockchain-powered, decentralized system for the Internet of Things (IoT) devices. The Helium mainnet, launched in July 2019, provides low-cost wireless devices to connect and transmit data through its network of servers.

Hotspots, which are a hybrid of a wireless gateway and a blockchain mining device, are used as nodes. Users who run nodes earn HNT, Helium's native cryptocurrency token, as a reward for their contributions.

Helium's competitors

Helium (HNT) is a cryptocurrency and blockchain-backed telecommunications network. Its competitors include MatchX, which uses similar technology to Helium, and Amazon Sidewalk.

Helium and MatchX are both crypto-backed telecommunications networks that use blockchain technology to reward wireless radios with currency for providing connectivity to edge devices, such as water meters, streetlights, and farming equipment. These low-powered monitoring computers, known as IoT devices, send information back to their users. Both networks rely on LORA technologies to transmit data, which has a maximum transfer rate of 27kbps. This is considered slow by today's standards and is not suitable for transferring images or other rich media content.

There are some key differences between the two networks. Helium has a more engaged community, with more people working on the project and a more active Discord and Reddit presence. Helium also takes a more "open" approach, being clear about the issues they face and welcoming investors to participate in their GitHub dedicated to improvements. At the time of writing, Helium has 15,000 miners, while MatchX has 3,400, giving Helium a much larger network and a better chance at reaching "critical mass".

In terms of earnings, Helium miners can expect approximately 10-200 HNT per month, while MatchX miners earn around 950 MXC per month. The cost of the miners also varies, with Helium's miner priced at $299, and MatchX's at $3000.

Another potential competitor to Helium is Amazon Sidewalk, a crowd-sourced wireless network designed to connect IoT devices. However, it is not a direct competitor as it does not use blockchain or cryptocurrency.

Frequently asked questions