Helium

Helium is a decentralized machine network that operates on a physical blockchain. This network is established and maintained by gateways, who also serve as miners. These gateway operators are rewarded with tokens based on the coverage they offer and transaction fees accrued from machines connecting to their gateway.

As a novel cryptocurrency, Helium's hotspots earn rewards for providing and validating wireless coverage, as well as when devices on the network connect to the internet via these hotspots.

Distribution of Helium

Unlike some cryptocurrencies, there was no pre-mine of Helium. Instead, approximately 5 million new Helium tokens are minted each month. At the conclusion of each mining period, which typically lasts between 30 to 60 minutes, Helium is distributed according to a predetermined allocation scheme.

In summary, Helium offers an innovative approach to decentralized networking and cryptocurrency mining. Its unique model allows hotspot owners and investors alike to benefit from both network growth and device connectivity.

We invite you to delve deeper into this topic and explore more news about other cryptocurrencies here at Global Crypto News.