Internet-of-Things developer platform for IoT network
Helium is a company founded in 2013, funded by various investors with an initial funding amount of at least $50M.
The project itself focuses on developing the Internet-of-Things developer platform for building the network and transferring IoT devices’ data. Helium’s platform will be the key to build the peer-to-peer wireless network to simplify the process of connecting any device to the internet by rewarding anyone to become a network operator.
The network will provide wireless coverage for low-power Internet of Things (IoT) devices and in return earn a new cryptocurrency, Helium. Users will be able to earn Helium tokens by verifying network transactions, adding new blocks to the blockchain, and performing other tasks. Helium said their Proof-of-Coverage algorithm will use radio waves to validate hotspots in order to make sure they are providing legitimate wireless coverage.