There are big profits to be made in Helium coin mining. HNT, the Helium native token, has dramatically increased in value since its inception and is on track to become increasingly profitable. To start earning your own HNT without major stock investments, you can become a helium miner.
If you’re new to Blockchain technology as a whole, be sure to check out our other blogs on the topic. Though we’ll review some essential basics below, you should be familiar with the concept of a decentralized network and immutable ledger. In today’s blog we will:
· Revisit the concept of cryptocurrency mining and proof of coverage
· Introduce the Helium IoT network and why helium mining is destined for great profits
· Introduce Emrit and the CoolSpot as a winning option for new miners looking to curtail financial risks
The Basics: Cryptocurrency Mining
Cryptocurrency miners use their computing power to participate in a blockchain’s consensus mechanism and are rewarded in digital currency.
The most common types of consensus mechanisms are proof of work and proof of stake. Both are versions of the same thing: a decentralized system of confirming and/or witnessing the validity of a transaction and thereby creating a new block in the blockchain. Witnessing or winning a “challenge” earns the node (and its owner) cryptocurrency.
The currency earned by participating in the Helium network is HNT. Before we jump into how you can start earning HNT, let’s get down to the details of what the Helium Network actually is and does.
Unlike many other blockchain networks, the Helium network is not based on proof of work or proof of stake. Instead, the access nodes challenge each other for proof of coverage. That’s because providing coverage is the essential function of the Helium network.
What is the Helium Network?
Helium is “The People’s Network.” Driven by the Helium blockchain and decentralized infrastructure in the form of Helium hotspots, it provides wireless network coverage to billions of devices that need a connection to transmit data between one another.
In its current form, the Helium network is an IoT network. IoT stands for Internet of Things and refers to the connectivity between non-human interfaces and devices. Helium hotspot miners interact with one another to provide widespread network coverage to an area.
Devices that tap into the Helium network can relay device data: hotspots transmit data between one another in an immutable way, thanks to blockchain technology. That makes the Helium network an exceptional alternative to traditional centralized cell coverage.
The good news is that nothing needs to change in established infrastructure to allow sensors, devices, or other solutions to tap into Helium’s LoRAWAN network. A Blockchain-secured network is being built in the world around us at this very moment. It’s an exceptional network for more than one reason: low-power network coverage is environmentally conscious, too.
By owning and operating a Helium hotspot, you automatically generate HNT tokens for successful activity performed by your unit. That activity takes many forms: mainly participating in proof of coverage consensus mechanisms with local hotspots and witnessing nearby hotspots.
A hotspot provides a wireless IoT signal, validates wireless coverage, and conducts network data transfer operations at the same time: that’s the beauty of blockchain technology. All of those operations earn you data credits in the form of HNT. That’s all it takes.
Why mine HNT? Because it’s easy and promises to keep increasing in value in the long run.
Why Mine Helium?
Since the beginning of 2021, HNT has already gained around 4000% in value on exchange networks. At the beginning of the year, one HNT was valued at around $1.30. Now, in March, its value has reached around $25. The market cap of Helium has expanded to over $3 billion dollars.
That’s the kind of indicator that gets investors interested. What can we infer from past performance? Has there been growth, and is the potential of growth high? What kind of financial promise does a network yield at all? And how do we know that Helium will continue increasing in value?
Take a cell carrier like Verizon. Verizon has a market cap of over $220 billion. Of course, Verizon is a household name in the US, with significant cell infrastructure in every state. But even a regional carrier like Spectrum has a market cap of $115 billion.
Unlike both Spectrum and Verizon, Helium is a global network. Its growth potential is incredibly high; if it already has a market cap of $3 billion now, in the early stages of its infrastructure rollout, just wait until Helium continues expanding. In fact, Helium is already preparing to build on its IoT coverage and launch an additional decentralized 5G network in the near future. Wireless coverage for human users – one hotspot at a time.
Indeed, Helium’s growth relies on distributed infrastructure. By connecting a hotspot miner to your power and home network, you provide coverage for the Helium network to your local area. Companies like Emrit work to get that infrastructure out to people – in a manner that decreases your financial risk.
Emrit and the CoolSpot
Emrit is a distributed blockchain infrastructure company. We aim to build the physical infrastructure of the next generation of the internet, all while creating income opportunities for consumers and businesses through cryptocurrency mining.
Emrit has quickly become a leading deployer of Helium miners in the world. Our pitch is simple: share the cost of an expensive miner with you, and split the HNT profits 50/50. Our goal is to lower the barrier of entry for new miners and grow the network around the world. You’ll have access to the Emrit Helium wallet to store your crypto, and will begin hotspot mining at less than half the usual cost.
In the end, we all stand to gain from a profit-sharing collaboration. And Helium mining won’t remain our only significant infrastructure project: Emrit has many exciting plans for the future. Join our community and stay on top of exciting opportunities.
Helium Coin Mining: Infinite Potential
Helium mining is at the core of Emrit’s strategy growth, in part because our company’s goals coincide urgently with the infrastructure needs of a system like Helium. By getting subsidized hardware out to individuals all over the world, we are physically laying the groundwork for the expansion of the Helium network.
We are proud to contribute to the growth of the Helium network because it captures the very best of what blockchain technology can do: provide people-driven alternatives to profit-based, centralized networks.
And the Helium decentralized wireless network continues to grow and evolve. The IoT compatibility points to further potential for decentralized coverage. Home networks could eventually be used to give coverage to human users as well. All that and more is what we could be working towards in the future. In this blog, we:
· Reviewed the basic technological principles underlying cryptocurrency mining
· Introduced the Helium IoT Network
· Explained the role of Emrit and the CoolSpot in the successful growth of Helium
To get started on your own helium mining journey (and start earning HNT passively), explore our website and join the ranks of our global Emritans today! Together, we can capitalize on the opportunities of the next digital age.