Helium HNT Tutorial | Helium HNT Mining | Helium HNT Explained
143Helium HNT Tutorial | Helium HNT Mining | Helium HNT Explained
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Welcome to our Helium HNT Tutorial Video!
People-Powered Networks.
Start a Wireless Revolution
Powered by the Helium Blockchain, The People’s Network represents a paradigm shift for decentralized wireless infrastructure.
Mine.
A New Way to Mine Crypto
By deploying a simple device in your home or office, you can provide your city with miles of low-power network coverage for billions of devices and earn a new cryptocurrency, HNT.
Mine Crypto with Radio
The People's Network is powered by an entirely new incentive model - made possible by the Helium Blockchain.
A New Kind of Crypto Miner
Mining HNT is done by installing a simple device on your office window. That’s it. Seriously.
Hotspots provide miles of wireless network coverage for millions of devices around you using Helium LongFi, and you are rewarded in HNT for doing this. And because of an innovative proof-of-work model (we call it “Proof-of-Coverage”), your Hotspot only uses 5W of energy.
A World of Hotspots
Since the approval of HIP 19, Third-party Manufacturers and Vendors looking to produce and supply Hotspots that mine HNT can seek community approval.
How do I earn HNT?
Participants earn HNT by mining and building coverage for The People’s Network using compatible Hotspots.
Proof-of-Coverage
Hotspots on the network are randomly and automatically assigned Proof-of-Coverage tests to complete. Passing and witnessing tests earns HNT.
Relay Device Data
Hotspots earn HNT for transferring device data over the network. The more device data a Hotspot transfers, the more it earns.
The Value of HNT
Millions of compatible devices can use The People's Network and each device requires Data Credits (DC) in order to send data to the Internet.
Fixed in value, DC are created by 'burning' HNT, reducing the total supply to achieve a Burn and Mint Equilibrium. The more devices using DC, the more HNT will be burned.
What uses the Network?
As well as earning HNT, deploying a Hotspot helps local businesses build powerful new wireless devices and sensor applications. Discover new hardware and software solutions using and supporting The People’s Network on our Ecosystem page.
How are Tokens Earned?
Hotspots earn HNT for building and securing network infrastructure and transferring device data.
The amount of HNT distributed to Hotspots depends on the type of “work” they perform based on the value to the network. This validation of network contribution is accomplished by a new work algorithm called Proof-of-Coverage (PoC).
To participate in PoC, Hotspots receive instructions (or 'challenges') from Validators to transmit payloads to any nearby Hotspots to witness and verify. These single-hop challenges are also known as 'beacons'. Hotspots without neighbors earn less as they can only mine HNT for data transfer and are unable to have their beacons verified. After the first year, distribution amounts adjust.
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The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses a considerable risk of loss. The speaker does not guarantee any particular outcome.
I hope you found value in our Helium HNT Tutorial video. Make sure to leave a like on the video if you gained value from it!
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⏰Timestamps⏰
0:00 intro
0:15 Helium.com
9:17 Twitter
9:33 Summary