Crypto-Based IoT Company Helium To Expand Its Crypto Mining Modems to 250 Cities In US
An Internet of Things startup Helium has announced its plans to expand from one city to more than 250 in the U.S. Cities like New York, San Francisco, Denver, Chicago, Houston, Seattle, Dallas, Houston, and Atlanta, are the key cities.
Helium is a network that helps IoT devices like e-Scooters, sensors, and even pet trackers to get low-volume data to the internet quickly at a very low cost. With these “hotspots”, that are more like mining machines, people can store them at home and eventually earn Helium tokens by running the network and verifying the location of the nodes.
“Several approaches have been researched, especially within the cognitive radio domain, for radios to cooperate with each other so that they can use network resources more efficiently when transferring data. The Helium case seems like a good example of putting this to practice,”
commented a researcher at the University of Pittsburgh, Marcela Gomez.
Helium tokens will be available to sell, but they will have to be denominated in Data Credits. So by putting it simple – the tokens stay in the network and you cannot sell them. The tokens, basically, are worth as much as the network has expanded. But industry experts remain optimistic about the project.
Earlier this week Helium announced a $15 million Series C co-led by Union Square Ventures and Multicoin Capital. Investors will acquire equity in Helium as well as a share of the tokens that will accrue to the company over the next several years as they are minted after its bespoke blockchain goes live.