Helium is a decentralized machine network powered by a physical blockchain. The network is created by gateways who also double as miners on our network. These gateway operators can earn tokens based on coverage they provide as well as transaction fees gained from machines connecting to their gateway Heliusm is a new cryptocurrency. Hotspots earn for providing and validating wireless coverage and when devices on the network connect to the internet through Hospots Helium is mined and distributed to Hotspot Owners, Helium Inc, and investors. There is no pre-mine of Helium, and every month approximately 5,000,000 new Helium are minted. At the end of each mining period, roughly every 30 to 60 mins, Helium is distributed according to the allocation shown:
Using a Burn-and-Mint Equilibrium token model, The People’s Network utilizes two units of exchange: HNT and Data Credits. HNT is mined and distributed to Hotspot Owners, Helium Inc., and Investors.
There is no pre-mine of HNT, and a max supply of 223M HNT.
HNT Distribution（YEAR 1 BREAKDOWN）:
30% Network Data Transfer：Rewarded for hearing devices and relaying their packets to the internet.
35% Hotspot Infrastructure：Rewarded for participating in , witnessing and creating Proof-of-Coverage challenges
35% Helium, Inc. and Investors：Assigned to founders, investors and organizations who will manage blockchain governance.
The distribution of HNT changes over time to align incentives with the needs of the network.
In the early days, a higher proportion of HNT is allocated to Hotspot owners for building and securing coverage. As the network grows, Hotspots earn more for transferring device data on the network while Helium Inc. and investors earn less. After 20 years, distributions no longer adjust and remain fixed.
Helium has raised equity funding from some of the most prominent Venture Capital (VC) firms in the world including Khosla Ventures, FirstMark Capital, GV (formerly Google Ventures), HSB/MunichRe Ventures, Union Square Ventures, Multicoin Capital, and others.