Helium

The Helium network, also called the People's Network, is a novel concept, running on a new consensus mechanism, and a new type of proof. Helium is a decentralized, global, wireless network. It enables worldwide wireless Internet connection as envisioned in the Internet of Things concept. These devices are also able to geolocate themselves. This removes the need to rely on satellite hardware and expensive cellular plans. Helium offers a solution to these problems by introducing WHIP. It's a new open-source and standards-compliant wireless network protocol. It was designed to run on already existing common radio chips. WHIP requires no additional proprietary technology.

The Helium Consensus Protocol creates a high-throughput, permissionless system that is strongly censor-resistant. It combines an asynchronous Byzantine Fault Tolerant system with the novel Proof-of-Coverage concept. In Proof-of-Coverage miners have to prove they are providing wireless network coverage. These proofs are then serialized with Proof-of-Serialization. This allows miners to prove they are accurately representing time relative to others on the network.

There are three types of network participants on Helium. Devices connect to the Internet and send and receive encrypted data from it. They use WHIP-compatible hardware, and the data they send is fingerprinted and stored on the blockchain. Miners provide wireless network coverage via Hotspots. This essentially creates a bridge between the Internet and WHIP compatible devices. Routers buy encrypted data packs from Miners. They also participate in the geolocation of devices through Proof-of-Location. Routers confirm to Hotspots that data from Devices was delivered correctly. This sends a signal that a Miner should be properly compensated for their work.

HNT is Helium's native cryptocurrency token with a total supply of 223 million HNT. The tokens are used as an incentive for active network participants. HNT supply comes from mining with a compatible Hotspot. This both mines HNT and builds network coverage for Internet of Things devices. HNT can also be burned in order to receive Data Credits. They are the only way to pay for transaction fees on the Helium network. Unlike HNT, Data Credits are non-transferable, and can only be used by their original owner.