Helium (HNT)

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Network Use

Helium is a decentralized wireless network that provides long-range coverage for Internet of Things (IoT) devices. It connects low-powered devices like sensors and smart appliances using hotspots owned by users.

Token Incentives

Users who run Helium hotspots earn HNT tokens as rewards for providing network coverage and validating data. This encourages people to build and maintain the network.

IoT Applications

Helium supports many real-world IoT use cases such as tracking scooters, monitoring air quality, managing smart traps, and collecting data from agriculture sensors.

Mobile Connectivity

Helium also promotes 5G wireless connectivity through its network, allowing participants to earn tokens by helping expand mobile coverage.

Data Transmission

Companies and devices use Helium’s network to send small amounts of data over long distances efficiently and at predictable costs by purchasing Data Credits on the platform.

Pros

• Low Energy Mining: Helium uses low-energy Hotspot miners instead of power-hungry GPUs, making mining more eco-friendly and cost-effective.
• IoT Network Growth: It supports a growing decentralized wireless network for Internet of Things (IoT) devices, connecting real-world infrastructure with blockchain.
• Passive Income: Users can earn HNT tokens by operating Hotspots that provide network coverage, offering a way to generate passive income.
• Staking Rewards: Helium offers attractive staking rewards, encouraging long-term holding and participation in network governance.
• 5G Expansion: The network is expanding into 5G technology, increasing its utility and potential market reach.
• Strategic Partnerships: Collaborations with major tech companies and IoT providers help boost adoption and network growth.

Cons

• Network Quality Focus: The network has shifted from rapid expansion to focusing on quality coverage, which may slow growth in some areas.
• Confusing Features: Some users find certain platform features, like the magnet feature, confusing or lacking detail.
• Sorting Issues: The platform’s sorting features have been criticized as inefficient by some users.
• Hotspot Setup: Hotspots require internet access via Wi-Fi routers and only support IoT devices, which may limit use cases compared to traditional internet sharing.

For more details, visit the official Helium website or trusted crypto resources.

Founders

Helium was founded in 2013 by Amir Haleem, Shawn Fanning, and Sean Carey.

Roles

• Amir Haleem is the CEO and Chairman.
• Shawn Fanning and Sean Carey are co-founders who helped start the project.

Background

They started Helium to build a decentralized wireless network using crypto incentives, aiming to connect IoT devices through a peer-to-peer network.

Institutional Investors

Helium has raised funding from several well-known institutional investors including Andreessen Horowitz (a16z), Tiger Global Management, FTX Ventures, Khosla Ventures, GV (Google Ventures), Multicoin Capital, Munich Re Ventures, and FirstMark Capital.

Funding Rounds

The company raised $200 million in a Series D round at a $1.2 billion valuation in early 2022, with participation from Tiger Global, FTX Ventures, and a16z leading the token sale. Overall, Helium has raised about $370 million over multiple funding rounds.

Angel and Other Investors

Helium has a total of 51 investors, including 50 institutional investors and 1 angel investor, supporting its growth in decentralized wireless networks and IoT infrastructure.

For more details, visit Helium’s official website or their funding profiles on platforms like Crunchbase and Tracxn.

Halal Status of Helium

Yes, Helium is considered halal. It is designed as a platform solving real-world IoT technology problems, and its staking and mining processes align with Islamic principles by providing a service rather than involving speculation. Islamic scholars and Shariah compliance auditors have reviewed Helium and found it permissible for Muslims to invest, trade, and stake.