![]() I was searching the post replies for a retired network engineer to explain how water, mountains, buildings, and other RF nemeses would affect the HNTs’ earnings potential. Someone had also posted about trying to cover a wider area by placing the hotspot on a flagpole on a hill. A class of miners was strategizing where they should place their hotspots and how many hotspots would saturate an area, leading to slower mining of HNTs. There were two classes of poster: the miners, and those who buy and resell HNTs as the price rises. In the process, I stumbled upon a Reddit thread full of people asking how to capitalize on the apparent rise in the value of HNTs. But with potentially $10,000 in found money from a LoRaWAN hotspot, I decided to open a Binance account and see if I could turn those HNTs into cold hard cash. I’ve got nothing against it, but it’s not something I’m eager to latch onto, either. Indeed, the market for cryptocurrencies has always struck me as less about tech and more about day trading. And yet, for me, the blockchain is best used for building trust and accountability between machines, whereas the entire cryptocurrency market is merely a digression. Y’all may roll your eyes, but I can explain what the blockchain is and even understand the concepts behind mining. Then he told me how I could turn that imaginary Helium money into actual cash. When I told to Kevin about this, at first he laughed at me. As of Thursday evening, 1,100 HNT are worth $16,500.) (They fluctuate, like all cryptocurrencies. And all of a sudden those 1,100+ HNTs turned into $10,876 and some change. In doing so, I noticed an update that offered me the chance to convert my HNTs to a dollar figure, so I clicked it. Then last month, after people kept emailing me about HNTs and seeing that the routers were all sold out, I took a closer look at the app. Want more IoT stuff like this? Subscribe to Stacey’s newsletter. Yes, I vaguely tracked the debates taking place in various forums about how tokens were mined and potential forks in the code, but I was operating the hotspot as a grand experiment in IoT networks, not for any hope of future value. What I hadn’t been focused on were the tokens themselves. Now companies such as Nebra, Bobcat, and CalChip sell hotspots that work on the Helium network so Helium doesn’t have to. This is one of the original Helium hotspots. I wrote at least two articles on the topic, and was excited by the way Helium was rethinking the economics of a wide area network. I knew it was mining those tokens to create an incentive for people to buy the hotspots and provide more network coverage. It turns out the Helium hotspot that has sat on my windowsill for a little more than a year helpfully providing a LoRa network to anyone within range has also been mining Helium Network Tokens (HNT), which are now worth real money. I was dragged into it thanks to my readers along with a large number of commenters on my Helium hotspot post from 11 months ago. For this validation work Hotspots can earn HNT by verifying network transactions, adding new blocks to the blockchain, and performing other tasks.Last month, I finally got into the crypto craze. Proof-of-Coverage is a unique work algorithm that uses radio waves to validate Hotspots are providing legitimate wireless coverage. It's based on a new, novel work algorithm called Proof of Coverage, and rewards miners in HNT, the native token of the Helium blockchain. Helium Blockchain is a new blockchain built from the ground up to incentivize the creation of decentralized, public wireless networks. Today, the Helium blockchain, and its hundreds of thousands of Hotspots, provide access to the largest LoRaWAN Network in the world. The Helium blockchain is a new, open source, public blockchain created entirely to incentivize the creation of physical, decentralized wireless networks. Hotspots produce and are compensated in HNT, the native cryptocurrency of the Helium blockchain. Helium is a global, distributed network of Hotspots that create public, long-range wireless coverage for LoRaWAN-enabled IoT devices.
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