In this Wealth Mastery Crypto Review, we’ll discuss the following topics about Helium Network:
- What is the Helium Crypto Network?
- How Does Helium Crypto Work?
- Is Helium Network 5G?
- Should You Mine Helium?
- Is Helium HNT Crypto a Good Investment?
What is the Helium Crypto Network HNT?
The Helium Crypto Network has taken the torch and dubbed itself “The People’s Network”. This is because the Helium Network relied solely on humans to secure the network when it first launched. On Helium, this is accomplished with specialized devices called “Hotspots”. Helium uses a new algorithm called Proof-of-Coverage (PoC) to secure the Helium Network through these devices. Hotspots have a multipurpose utility which we’ll get into later on, but, due to numerous changes and challenges in the Helium Network, it’s no longer able to carry that torch. With the introduction of Proof-of-Stake validators for HNT tokens, Helium added an entirely new gatekeeper to the growth of its network. By staking Helium, users have become validators and broken away from human-only Proof-of-Coverage consensus. Helium and the self-proclaimed Decentralized Wireless Alliance are at the helm of this ship, and as majority shareholders, it was in their interest to create validators. That’s just how the game is played.
Images Courtesy of helium.com
As a Helium HNT Miner when the network first launched, I have valuable insight into how the network operates and common pitfalls for newcomers looking to join the Helium Mining Network, especially when it comes to privacy. So before we get too deep into the technicals, I have a story to share, a word of caution for potential Helium Miners.
With the nature of Mining a Geolocational device from your home and having that physical location searchable on a Block Explorer, I was greeted by an unknown guest at my door one afternoon, something most would agree is a Bitcoiners worst nightmare. This happened shortly after ceasing to secure the Helium Network… A man showed up in my driveway who “thankfully” had no ill intentions. The discovery phase of coming to that conclusion was still a serious one. If you’ve read our Author Profiles, you already know I’m a second amendment advocate and never leave my home unarmed, spending hundreds of hours across the country running training courses with the best tactical experts. I’m over-prepared for situations like this to happen. Fortunately, the individual who showed up was a fellow Helium Miner who was having trouble acquiring hotspots. He was in the process of buying up all the hotspots in my area. Since I was the “only” hotspot on my side of the bridge, it wasn’t hard to figure out my exact location. At one point, I had registered 12 hotspots around my town and a dozen more on backorder. I was “First to the Egg,” and this is undoubtedly what ended up biting me in the ass. The general rule of thumb is to be the 3rd or 4th person to do something new. Being the first to do anything carries the most significant risk. This is still the current situation if you decide to mine Helium. Anyone mining outside a densely populated downtown area can easily be found using the Hotspot Explorer. This was one of the reasons I stopped mining Helium in 2021. The other reasons we’ll soon dig into.
How Does Helium Crypto Work?
Head of Research Jesse is a passionate seeker of truth who enjoys educating others about Bitcoin. As a free thinker and 2nd amendment advocate, Jesse believes each individual has the right to monetary freedom. “The swarm is headed towards us” -Satoshi Nakamoto
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