About Helium (HNT)
Helium (HNT) is an open-source public blockchain through which Internet of Things (IoT) devices operated by HNT holders can communicate and transfer value using its nodes. Helium’s nodes are the backbone of its wireless networking protocol LongFi, which provides long-range decentralized WiFi. Node operators provide connectivity by running Helium hardware, for which they are able to earn HNT tokens.
Helium’s consensus protocol, Proof of Coverage (PoC), is based on a variant of the HoneyBadger Byzantine Fault Tolerance (HBBFT) protocol. It entails a consensus group of elected validators receiving encrypted transactions as inputs and subsequently reaching consensus on the transaction order before forming a block and adding it to the blockchain.
Helium announced in February 2023 that it will fully migrate its blockchain infrastructure to Solana. This move is expected to increase the speed and scalability of Helium's network, which currently allows users to earn Helium tokens by providing wireless coverage. With the migration, Helium aims to offer lower transaction fees and faster confirmation times for users of its ecosystem. With Helium migrating to Solana, it joins a growing number of blockchain-based projects that have chosen Solana's reported high-performance blockchain for their infrastructure needs.
The network cryptocurrency, HNT, is used to power operations and reward Helium miners. The current price of HNT is updated and available in real time on Binance.