The Helium Network which runs on represents a paradigm shift for decentralized wireless infrastructure that enables devices anywhere in the world to wirelessly connect to the Internet and geolocate themselves without the need for power-hungry satellite location hardware or expensive cellular plans.
Helium network uses a new type of consensus mechanism called Proof-Of-Coverage to verify that hotspots accurately. Proof of Coverage leverages unique, undeniable properties of radio frequency ("RF") propagation to produce meaningful proofs to the Helium Network and its participants. Miners submitting the best proofs are elected to an asynchronous byzantine fault-tolerant consensus group at a fixed epoch.
Miners are elected to the consensus group based on the quality of wireless network coverage they provide.
Miners are rewarded with newly minted protocol tokens for blocks that are created while they are part of the consensus group. New helium blocks are produced every minute and the epoch size is 30 blocks. The reward will be given for every 30 blocks.
Major participants -
Devices- Send and receive encrypted data from the Internet using hardware compatible with WHIP.
Miners- Provide wireless network coverage via purpose-built hardware, called Hotspots.
Routers are Internet applications that purchase encrypted device data from Miners.
Block time- 60 seconds
Transaction fees- Average 0.000014 SOL
HNTUSD jumped more than 50 % in the past five days after Telefonica partnered with Nova Labs to install a helium 5G network. The pair holds above the short-term (21 and 55 EMA) and above the long-term moving average in the 4-hour chart. It hit a high of $8.50 and is currently trading around $7.95.
The bullish invalidation can happen if the pair closes below $5.50. On the lower side, the near-term support is $7.50. Any break below targets $6.50/$5.50.
The pair's near-term resistance is around $8.50. Any breach above confirms minor bullishness. A jump to $10 is possible. A surge past $12 will take it to $15.
It is good to buy on dips around $7 with SL around $5.50 for TP of $10/$12.