Helium Network Token (HNT) is the cryptocurrency that is mined by the Hostpots during its wireless IoT network operations. When connected to a nearby Hotspot a ‘proof of coverage’ is delivered that validates LoRa gateway real availability as well as its related coverage. This confirmation simultaneously triggers the generation of Helium’s native cryptocurrency, Helium Network Token (HNT), using the gateway-embedded miner, thus rewarding Helium Network participants and granting coverage for hundreds of square miles throughout the community. Helium proposes a wireless economy with two units of exchange: HNT (Helium Network Token) & Data Credits (to connect to and use the community open wireless IoT network).

Hotspots’ miners earn HNT when LoRa-enabled IoT devices connect and for validating wireless coverage delivered by peers’ LoRaWAN gateways. Using the system called ‘proof-of-coverage’, Helium Compatible LoRaWAN gateways mine more HNT when they are in the range of other Helium compatible LoRa gateways, but need to be spaced at least 300 meters apart.  Quality of the antenna, which are typically sold separately, increase range and thus profitability on individual units.

The Helium Network aims to create a better alternative to traditional cellular based telecommunication platforms that are currently available for internet connected devices. Longfi provides 200x the range of traditional wifi and can move data dramatically more cost effectively than traditional cellular technology.

From connected home appliances, asset tracking, remote sensors (traffic, weather, water, pipelines, etc), manufacturing, warehousing, and distribution applications are all proliferating with iot opportunities that can benefit from Longfi wireless technology as opposed to traditional. Detailed information about Helium Network use cases can be found here: Use The People's Network

The Helium network has created an incentive model to encourage the establishment and operation of a decentralized mesh-network of Longfi hotspots to provide coverage for the network.

The entire Helium Network is visible on an open source map that shows all hotspots and provides an open ledger of each hotspots’ rewards and activities. All hotspots owned and deployed by Zephyrus will be visible on Helium’s network and our stakeholders will be able to track their performance transparently. 

Helium Hotspots that provide coverage earn fees in two primary ways:

• Providing Proof-of-coverage - hotspots validate the presence of one another and the network issue rewards for providing coverage.

• Network and Data Transaction Fees - Hotspots provide wireless connectivity to iot applications that pay a fee for sending data through the network.

Network earnings are earned via Helium Token (HNT). Detailed information about the token economics and structure HNT can be found here: https://www.helium.com/hnt. Detailed information addressing how the network manages supply and demand, plans for keeping earnings per hot-spot stable as the network grows, and other details can be found in Helium’s documentation.