HELIUM FROM THE SOURCE
Helium is now the biggest blockchain project in the world with over 300,000 hotspots now active .
The People’s Network creates an entirely new wireless economy that flips the traditional telecom model of building wireless infrastructure on its head.
Using a Burn-and-Mint Equilibrium token model, The People’s Network utilizes two units of exchange: HNT and Data Credits.
How are Tokens Earned?
Hotspots earn HNT for building and securing network infrastructure and transferring device data.
The amount of HNT distributed to Hotspots depends on the type of “work” they perform based on the value to the network. This validation of network contribution is accomplished by a new work algorithm called Proof-of-Coverage (PoC).
To participate in PoC, Hotspots receive instructions (or 'challenges') to transmit payloads to any nearby Hotspots to witness and verify. These single-hop challenges are also known as 'beacons'. Hotspots without neighbors earn less as they can only issue Challenges, and are unable to have their beacons verified. After the first year, distribution amounts adjust.
1. CHALLENGERS: 0.9%
Hotspots are chosen by the network to issue challenges, encrypted messages over the Internet, to a target group of Hotspots. Challenges are used by Proof-of-Coverage to validate wireless coverage. Hotspots can issue challenges from any location, not just to local Hotspots.
2. PROOF-OF-COVERAGE: 5.02%
Hotspots earn a share of HNT for participating in Proof-of-Coverage and validating their peer’s wireless coverage. The amount each Hotspot earns depends on how often it is directly involved in Proof-of-Coverage activity.
3. WITNESSES: 20.08%
Hotspots that monitor and report Proof-of-Coverage activity (beacons) of other Hotspots receive a portion of HNT depending on how much activity they’ve witnessed, and the reward scaling of the Challengee.
4. NETWORK DATA TRANSFER: 35%
HNT is distributed to Hotspots that transferred data from devices on the network. The amount of HNT is allocated proportionally based on the amount of data a Hotspot transferred.
The Things Network is a global collaborative Internet of Things ecosystem that creates networks, devices and solutions using LoRaWAN. The Things Network runs The Things Stack Community Edition, which is a crowdsourced, open and decentralized LoRaWAN network.
