Helium is a decentralized blockchain network that allows low-power wireless devices to communicate with each other and send data across their network of nodes.
Since July 2020, the cost of the original helium symbol, HNT, has increased 550% from $ 0.35 to a 2021 high of $ 2.25 on January 25 as the underlying networks continue to improve.
Three reasons HNT is gearing up for continued growth are the size and increased coverage of the node network, the simple operation of a passive revenue node, and the growing number of partnerships through Helium.
A growing network of nodes
Helium was founded in 2013 by Amir Halim, Sean Fanning and Sean Carey to create a “network of people” specifically designed to improve the connectivity of wireless Internet of Things (IoT) devices.
Since the launch of the mainnet in July 2019, the network has seen a steady increase in the number of active nodes and companies using the Helium blockchain to transfer IoT data.
Data from the Helium website shows 3,271 active hotspots as of the end of April 2020. As of January 26, there were 17,178 active nodes, an increase of 525% over the past nine months.
The demand for hotspots was so great that Helium was selling its devices in North America and Europe, prompting many companies to create compatible devices like the RAK Hotspot Miner or EasyLinkIn’s Bobcat Miner.
The growing number of companies offering devices compatible with helium networks bodes well for further expansion that the company is proposing.
Easy knot tying process for passive income
Setting up or managing a cryptocurrency mining operation is not an easy task. Technical knowledge is high, and the funds required to develop new energy efficient mining equipment quickly pay off for the average miner.
HNT miners only need an internet connection, smartphone and hotspots. Hotspots are a combination of a wireless gateway and blockchain mining operation that allows users to extract and receive rewards in the form of their own HNT token. The ease of hacking the HNT is likely one of the driving forces behind network adoption.
New partners join the network
Aside from price movements, managing the actual project and its blockchain is fundamental to the success of any blockchain network. The cryptocurrency sector is full of “ghost chains” that are practically inactive to justify the value of tokens, and despite trading with robots, many projects are illiquid.
A quick glance at the Twitter Helium feed reveals that online engagement is growing steadily as new partners are added to the network on a weekly basis.
Some of the latest partnerships include Nobel Systems, the company that hosts a parking app that monitors the availability of parking spaces, and Airly, the company that operates a system that monitors global air quality. Helium has also partnered with NOWi, the company that operates a network of sensors that alert property owners when leaks and abnormal water use are detected.
The use of the Internet of Things and smart devices is likely to increase in 2021, and the plethora of new partnerships with Helium and the strong performance of HNT indicate that the project is well positioned to capitalize on this trend.