Helium Coin: What is HNT and which miners are there?

Helium coin: Proof of coverage with transmitters

The Helium network is essentially a decentralized Internet of Things (IoT) based on the Helium blockchain. Miners buy special LoRaWAN transmitters, which they set up on roofs or balconies and thus contribute to the expansion of the network. They are rewarded for this with helium coins (HNT). The coins will automatically land on your Helium app.

But how does the system work? This is where “Proof of Coverage” (PoC) comes into play. The working algorithm checks on the blockchain whether hotspots are where they claim to be. In other words, PoC continuously checks that hotspots are actually providing their location and the wireless network coverage created from that 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 e-scooter providers who can run their scooters and apps over the network. But the helium network can do a lot more: If you equip your truck, bike or dog with a GPS tracker, for example, you can use an app to track the transmitter. This also applies to thermometers or other measuring devices used in art galleries to monitor the surroundings of valuable objects live. This makes densely populated inner cities particularly interesting for miners.

Hamburg: Large cities in Germany are paved over

Nevertheless, large cities in Germany are already paved over. While the miners are already piling up in certain areas of the capital, there are still a few free fields in Hamburg. Where a miner is placed makes a big difference. The higher a transmitter is, the greater its range. The more central it is, the more validation processes run through it. Logical: Profitability fluctuates and depends on the location. The editors are aware of miners who got in early and secured good “spots” in downtown Hamburg. Your broadcasters earn up to 2,500 euros per month. Other, worse positioned miners earn around 40 euros per month. The average is around 100 euros a month, i.e. around 4 HTN.

The price of helium is currently 25 US dollars (around 22 euros). In December 2021 it was still 50 US dollars (around 44 euros; as of February 2022), but then came the big crash. But the deal is still worth it. However, if you want to get in, you should first think about where to set up the antenna.

Which helium miners are there?

There are many manufacturers of helium miners. If you choose Bobcat hotspots, you have to be patient. Bobcat customers are currently waiting six months. Other, less well-known manufacturers such as Sensecap can sometimes deliver earlier. Some of the miners on offer also differ technically. An example: FreeDomFi offers routers with 5G technology. Interested? Here you will find the most popular helium miners. Caution! Some are not suitable for the European area.

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