Consumers are already paying a large monthly bill for their home and mobile Internet subscriptions. That's why Napster co-creator Shawn Fanning, Chris Bruce, founder of Sproutling, and Amir Haleem decided to develop a peer-to-peer network for Internet of Things (IoT) peripherals. His company, Helium, has launched its wireless IoT hotspot to provide wireless internet connectivity through a blockchain-based incentive program. A single helium hotspot costs €495 and can cover around 1/50 to 1/150 of a city, according to the company's research. The device uses about the same amount of power as a 12-watt LED bulb to provide wireless internet connection to nearby devices. Helium Hotspot connects to the user's home network and encrypts traffic between the device and the cloud using built-in blockchain technology to add and validate devices.
Helium hot spot
The device can reach 200 times more than conventional Wi-Fi routers because it uses the LongFi protocol, and according to the company, 50 to 100 hotspots are enough to cover an entire city. Helium has also developed a battery-powered chip that can be plugged into pet collars, air and air sensors, and even ride-sharing scooters, thus providing them with an internet connection starting at kilobits per second. By sharing their internet connection with these chips, hotspot owners can earn free cryptocurrency, which can help offset their initial investment. Each access point acts as a mining node within the helium blockchain through a proof-of-response protocol used to authenticate other network devices. The company's list of launch partners already contains big names, including rideshare scooter company Lime and drinks company Nestlé. At the same time, InvisiLeash, a specialist pet products company, is collaborating with Helium to create a range of connected pet products, starting with collars. According to Helium, the company has already sold out 80% of its hot spots in its launch market in Austin, Texas, and thousands of people have joined its global waiting list. via venturebeat