Helium Systems Inc, launched on August 31, 2016 and hail from San Francisco. Founded by Shawn Fanning, Amir Haleem and Sean Carey. Since there release the team has grown and so has the companies success. Over the following few years the Helium Blockchain was built and deployed on August 1st, 2019.

The founders visioned a decentralized wireless network, which operated via a peer-to-peer network, known as The Peoples Network. The network would provide a secure and low cost way for IoT (Internet of Things) devices to access data features, much like our cellular internet connectivity for your personal devices. Each peer would install a hotspot device which would provide coverage in their vicinity. They are then rewarded for their participation in helping the network to operate. Helium rewards such hosts with the cryptocurrency HNT coin. This process is referred to as mining.

The first 150 Helium hotspots were deployed in the city of Austin. On the 9th of November 2021, the current number of hotspots connected to the network reached a whopping 300,000 deployed in over 110 different countries. 75,000 of those connected in the 30 days, that led upto this milestone.

“Through The People’s Network, the company offers a new wireless economy that uses a burn-and-mint equilibrium token model that utilizes two units of exchange: HNT and Data Credits. HNT is the cryptocurrency earned when hotspots provide and validate wireless coverage and transfer data over the network. Data Credits are used by devices to send data on the network and for blockchain transaction fees. Data Credits are created by burning HNT are non-exchangeable, and are tied to a single user.”
Helium

Whilst the growth rate of the network is impressive. It could easily have been twice as big if it wasn’t for problems with supplying hotpsots! The companies biggest bottleneck right now is manufacturers, and their delivery times. How long? Months! Yes, Helium hotspots are selling like hotcakes and the manufacturers cant keep up! Unless you get lucky, or the market improves you can expect to be put on a waiting list.