Helium is a blockchain network that uses a decentralized global hotspots devices network, but is Helium network legit? These devices also act as wireless access points and network miners.
They do so to deliver long-range connectivity to the Internet of Things devices. They also use a decentralized wireless network to deliver the same.
Any user can activate the hotspots, and the individuals, in turn, earn HNT coins (Helium’s Native).
Helium uses it as payment for the provision of connectivity to devices. Wireless infrastructure is made possible by this blockchain-based and decentralized approach.
It makes scaling more rapid and less costly than the traditional models. Below is a review of the overall assessment of the network.
Is Helium Network Legit?
Helium is a very legitimate product. It is important to note that the promised volumes were not delivered as expected. Helium enables the use of long-range and low-power wireless devices connected to the Internet of Things (Internet of Things) devices.
These wireless devices are known as hotspots. Any user can deliver these wireless devices and, in turn, earn HNT as pay. HNT is the pay for delivering network coverage. It is also payment for delivering the safe transfer of data for Internet of things devices.
What Is Helium, And How Does It Work?
Helium got launched in July 2019. Helium operates as an open-source blockchain network engineered for (Internet of Things) Internet of Things devices. Helium offers wireless connectivity to these devices.
Any user is allowed to host hotspots in an attempt to build a global, massive wireless network. Hotspots refer to nodes that provide simultaneous mining of HNT (Helium native token).
It is used to build and secure networks. They also provide a network connection to INTERNET OF THINGS devices nearby.
There has been a massive growth of Helium hotspots all over the world. It has reduced the cost for businesses and developers to connect to new Internet of Things device classes.
It was previously impossible. The Internet of Things devices may include smart pet collars, smart sensors, and bike trackers.
Hotspots provide a plug-and-play architecture for network devices. These network devices deliver connectivity that is 200 faster than WIFI. It gets done through the Helium LongFI.
Hotspots also get used to mine Helium tokens. A large city only requires 50 to 100 hotspot connections to provide coverage.
The algorithm used by Helium to deliver its connection is known as PoC (Proof of Coverage. This algorithm rewards users who have verified their coverage, delivering network connectivity locations. Helium Consensus protocol acts as the base protocol to build on.
The Potential Uses And Benefits Of Helium
The Helium network has been projected to have the potential capability to turn around the Internet of things industry. ‘
It comes from the ability of the Helium network to provide an affordable and decentralized solution for Internet of Things connectivity. A few benefits and applications of the helium network are:
1. Utilizes low-power for Internet of Things device connectivity
The technology used by helium networks is known as hotspots. Hotspots are long-range wireless devices that provide connectivity to Helium networks. Hotspots use low power while providing connectivity.
Helium can also install hotspots in areas that are difficult to reach. They can also get installed in areas that lack the presence of the traditional wireless network.
2. Decentralized infrastructure
The Helium network uses a decentralized infrastructure to deliver connectivity. The decentralized infrastructure means anyone can establish and set up a helium hotspot. This way, the helium network provides increased coverage and security for Internet devices.
3. Use of incentives
The decentralized infrastructure of the Helium Network means that anyone can establish and set up a helium hotspot.
To give hotspot operators incentivizes, Helium Network activates Helium Token (HNT) as payment for the connectivity they offer.
The Helium hotspot operators, in turn, provide safe network coverage and data transfer to the Internet of Things devices.
4. Machine-to-machine (M2M) communication
The network takes advantage of the machine-to-machine communication protocol. The Machine to Machine communication allows InternetInternet of things devices to exchange data and communicate without human touch.
5. Low-cost solution
It uses a decentralized infrastructure to deliver connectivity. The decentralized infrastructure means that anyone can establish and run a helium hotspot.
The Helium networks’ use of incentives and distributed network infrastructure provides a cheaper, more effective solution for Internet of Things connectivity. It beats traditional centralized networks in data transfer.
6. Secure data transfer
It takes advantage of blockchain technology as one of its core technologies. Blockchain technology provides a safe and secure data transfer for Internet of Things devices. Blockchain is known as one of the most secure technologies currently available.
7. Flexibility
The helium network is robust and comes with various applications besides Internet of Things connectivity.
These applications include GPS-based services, tracking services, and asset tracking, among many other uses.
8. Cost-effective sensor networks
One of the significant advantages of Helium networks is their application in sensor network deployment.
Various industries can take advantage of the affordable deployment solution of sensor networks that Helium networks offer. Examples of such industries are mining, logistics, farming, and petroleum.
Potential Concerns And Criticisms Of Helium
Although the helium network is extensive and robust, some potential criticisms and concerns arise from it. Here are some of the key concerns.
Scalability
The ever-expanding usage of the helium network poses a big question about its scalability. As more and more devices continue to join its ever-expanding network, scalability is becoming an issue.
There is an ever-increasing demand for the extent of network reach, and the transfer of data might cause significant scaling problems.
Security
The Helium network uses a decentralized infrastructure to deliver connectivity to increase coverage.
The decentralized infrastructure means anyone can establish and set up a helium hotspot. This decentralized infrastructure poses a significant security risk to the data transferred over the network.
Regulation
The network uses blockchain technology and cryptocurrency as core technologies. Blockchain technology provides a safe and secure data transfer for Internet of Things devices.
Blockchain is considered one of the most secure technologies currently available. This technology is, however, under heavy regulatory scrutiny. It may pose a lot of legal challenges in the delivery of the Helium network.
Environmental impact
The decentralized infrastructure of the helium network means that anyone can establish and set up a helium hotspot.
These hotspots need to get constantly connected to a power supply. It means a lot of energy gets consumed when working on transactions across the network. It poses a great environmental threat due to the massive power usage.
Limited use cases
The main purpose of engineering Helium networks is to provide connectivity to Internet Internet of things devices.
This focus on the connectivity of InternetInternet of things devices prevents the exploration of other use cases. It leads to a waste of a robust resource that You could use for more applications.
Network centralization
Helium Network uses Helium Token (HNT) as payment for their connectivity to incentivize hotspot operators.
The Helium hotspot operators, in turn, provide safe network coverage and data transfer to the Internet of Things devices.
This structure could easily enable network centralization. Network centralization is a situation where there is the existence of powerful players with good finances dominate the market. It leads to the exploitation of small players.
Competition
The Helium network is not the only available decentralized network in the market. Helium network competes for a significant share with these other technologies.
Apart from the other decentralized technologies, there are also traditional wireless networks. Some of these traditional networks also focus on the InternetInternet of things market and pose competition.
Comparison Of Helium To Other Decentralized Networks And Technologies
Helium is a blockchain network that uses a decentralized global hotspots devices network. Other decentralized networks in the market offer competition to the helium network. We have summarized some of those technologies below.
INTERNET OF THINGS: This is a decentralized network infrastructure that uses Tangle. Tangle is a consensus technology built on a directed acyclic graph (DAG). INTERNET OF THINGS also offers affordable InternetInternet of things device connectivity.
Etherium: Etherium is a decentralized infrastructure aiming to create a platform for decentralized applications. You can use it to engineer decentralized applications that connect to the Internet of things devices.
Lora WAN: Lora WAN also provides affordable network connectivity and spans long distances. However, it is not decentralized like the Helium network. You can use it to connect InternetInternet of things devices in a particular area.
Conclusion
So, is Helium network legit? The answer is yes. Helium is building a revolutionary wireless network with the projected capability of billions of connections worldwide.
With the advent of Helium 5G and helium hotspots in more than 8000 cities worldwide, Helium is proving revolutionary. The helium Network is expected to grow even further in the future.
The Helium ecosystem is also expanding to include various software and hardware solutions. It aims to bridge hotspot producers, developers, Internet of things businesses, and more. The helium network is making incredible advances at bettering Internet of Things connections.
