Bitcoin

IoT growth, partnerships, and easy pricing for Helium (HNT)

Helium (HNT) is a decentralized blockchain network that allows wireless devices with low power consumption to communicate with each other and send data over the node network.

Since July 2020 the indigenous symbol has been from Helium (HNT) has gained 550% in value, from $ 0.35 on Jan. 25 to a high of $ 2.21 in 2021 because the fundamentals of the network keep improving.

Three reasons HNT is ready for further growth are: The ever increasing size and coverage of the network of nodes, the ease with which a node can be managed for passive income, and the growing number of partnerships that Helium has forged.

HNT / USDT 4 hour chart. Source: TradingView

A growing network of nodes

IoT growth, partnerships, and easy pricing for Helium (HNT)
IoT growth, partnerships, and easy pricing for Helium (HNT)

Helium was founded in 2013 by Amir Haleem, Shawn Fanning and Sean Carey with the aim of creating a “People Network” is specially designed to improve the communication capabilities of IoT (Wireless Internet of Things) devices.

Since the launch of its main network in July 2019, the number of active nodes and companies using the Helium blockchain for IoT data transfers has grown steadily.

Data from the Helium website shows 3,271 nodes were active at the end of April 2020. As of January 26, there are 17,178 active nodes, up 525% over the past 9 months.

Helium network coverage map. Source: helium

The demand for hotspots was so great that Helium sold out its units in North America and Europe, causing several companies to develop compatible devices like the RAK hotspot miner or the Bobcat miner from EasyLinkIn.

The emergence of several companies offering hardware compatible with the Helium network is a good sign of the company’s continued expansion.

Simple node operation for passive income

Setting up a team or a cryptocurrency mining operation is not an easy task. The technical know-how is high and the funds required to develop new energy efficient mining equipment are quickly lost by the average miner.

HNT miners only need an internet connection, a smartphone and a mining hotspot. Hotspots are a combination of a wireless gateway and a blockchain mining device that allow users to mine and earn rewards in the form of the native HNT token. The ease of mining HNT is likely one of the drivers of network adoption.

New partners join the network

Aside from price promotions, commitment to the actual project and its blockchain is critical to the success of a blockchain network. The cryptocurrency sector is full of “ghost chains” that have little or no activity to justify the value of their tokens. Aside from bot-driven operations, many of the projects are illiquid.

A quick look at Helium’s Twitter feed shows this Participation in the network is growing steadily as new partners are added to the network on a weekly basis.

Some of the newer associations are Nobel Systems, a company that hosts a parking application that controls parking availability, and Airly, A company that manages a system that controls air quality around the world. Helium has also partnered with NOWi, A company that manages a network of sensors that notify owners when leaks and abnormal water usage are detected.

The use of IoT and smart devices is expected to increase in 2021. Helium’s numerous new partnerships and HNT’s strong performance show that the project is well positioned to capitalize on this trend.

The views and opinions expressed are those of the author only and do not necessarily reflect the views of Cointelegraph.com. Every investment and business move is associated with risks. You should do your own research when making a decision.

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