What is helium mining and how can I participate?

9/25/2022, 07:24 PM
What is helium mining and how can I participate?
The Helium network is a decentralized, so-called LoRaWan network on the blockchain. This allows companies to transmit small data packets to servers - such as position data, information from sensors or electricity meters. Helium nodes form many individual hotspots. The recipients are networked and connected to the Internet. Sensors send their data to one point, which transmits it to the next. In the end, the information ends up on a server. There they are analyzed and appropriate actions are triggered.

What is helium mining and how can I participate? Is it worth the effort or should I rather mine Bitcoin?
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Helium wants to create a global network - and needs as many hotspots as possible. Because everyone can participate in the construction, the provider speaks of a "People's Network".

Many companies are already paying to use helium. This includes the e-scooter rental company Lime. Other services track weather data, find lost dogs using special collars or offer applications for smart cities, such as smart parking space searches.

The Helium network started in 2019, but the company has existed since 2013. One of the three founders, Shawn Fanning, was a co-inventor of the music exchange Napster.

Helium If you want to get into helium mining, you should first find out if your location is suitable for it. This is crucial for your potential yield. There should be plenty of hotspots around for your helium miner to connect to. But no one should be in the immediate vicinity, otherwise they will compete with each other. Cities are often already covered. In rural areas, on the other hand, there are fewer companies that could use the service.

You can then manage your helium miner using the free helium app. It also has an integrated wallet in which your HNT is stored. As with all cryptocurrencies, the HNT rate can fluctuate widely. Currently (as of April 1st) it is 21.95 euros. But the coin was only worth 5 euros - and also almost 50 euros.

Nobody knows whether helium will prevail. It may also be the case that companies use 5G or other services. In the worst case, you will be left with the helium miner and your cryptocurrency.

Find out more on Helium.com.