The Economics of Helium With the upcoming MOBILE network integration, the Helium community has an important vote to determine how to distribute HNT rewards between the networks. This article discusses Helium’s upcoming economics structure and compares the two proposals, HIP-80 and HIP-81, to help the average user understand their differences. How Helium Distributes HNT Now Currently, the Helium Network mints 82 thousand HNT tokens daily. Of that, roughly 50,000 HNT is distributed to hotspot owners for their participation in Proof of Coverage on the IOT network. But changes are on the horizon. Helium’s long-term vision is to become a “Network of Networks,” which requires establishing a fair way to allocate HNT rewards among the subDAOs (IoT or MOBILE currently). HIP-80 and HIP-81 are two competing HIPs that address this issue. Both proposals aim to determine how the HNT rewards will be split between the original IOT subDAO and future ones…
What is the Helium Network? The Helium Network is a blockchain-based communication network. HNT is the crypto-currency built to facilitate this network and it’s construction which will help to connect the billions of IOT devices that are being deployed around the world. These devices need access to a long-range, low power, and inexpensive network to communicate with their users. How Is Helium Different Than Other Wireless Networks? Communications Networks are nothing new, in fact, they have been around for over 100 years — from the old Telegram networks built to transmit Morse Code over copper wire to the ultra-fast 5G networks Big Telco’s are deploying today. Despite the huge increases in speed and bandwidth, modern networks are all centralized using the “top-down” approach to the infrastructure that serves their content. The networks use highly controlled, centralized radio equipment that they themselves own. The maintenance of the network and what types…
Bad actors possibly numbering in the hundreds have falsely asserted their locations so that they can steal money from legitimate miners and users. It’s a relatively simple hack that anyone can do and unfortunately may become a serious problem as the network grows