Helium Coin: Proof of Coverage with LTE antennas
The helium network is essentially a decentralized Internet of Things (IoT) based on the helium blockchain. Miners buy special LTE transmitters that they set up on roofs or balconies and thus help expand the network, for example. For this they are rewarded with helium coins. How it works? This is where the “Proof of Coverage” (PoC) comes into play. The working algorithm checks in the blockchain whether hotspots are where they claim to be. In other words: PoC continuously checks whether hotspots actually provide their location and the wireless network coverage created from this location. How much the miner gets depends on the number of connected devices and their range. A big plus point: A helium transmitter consumes very little energy, 15 watts are sufficient for most models.
Why do you need a decentralized IoT?
The connection costs are only a fraction of the costs associated with mobile communications. This makes the network attractive for providers of e-scooters such as Lime, who run their scooters and apps over the network. But the network can do a lot more: anyone who provides their truck, bicycle or dog with a GPS tracker can track the transmitters via an app. This also applies to thermometers or other measuring devices that are used in art galleries to monitor the surroundings of the valuable objects live.
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