Welcome to Part 2 of our Helium series showcasing Steve and Andy Do and their discussion about “How to Monetize & Make Money with the Helium Network.” IoT platforms like The Helium Network can be a powerful tool.
IoT Platforms: The Helium Network
What are HNTs?
HNTs are the primary token used in the Helium Network. The HNT token can be used to run a hot spot and build out a local coverage area for machines. HNT acts as a security deposit for running a hotspot, which prevents misbehaving hotspots from being able to operate on the network.
How Do HNTs Work?
The HNT is the first crypto asset backed by the decentralized computing power of the Helium network.
The best way to understand HNTs is as an incentive-based token that drives the growth of the Helium network by providing a direct benefit to end-users.
The HNT token is designed to provide value to owners in three major ways:
- It allows home network owners to earn cryptocurrency for hosting a wireless hotspot for the Helium network.
- It allows home network owners to participate in the community governance of the Helium network.
- It provides home network owners with priority access and reduced data costs when using devices connected to the Helium network.
The Need for Applications for SMB & Enterprise Businesses
An IoT solution can collect and analyze huge amounts of data and provide intelligent insights into trends, interactions, and user behavior.
With IoT solutions, SMBs can expect:
- Cost reduction, especially in asset management.
- Improved overall operational efficiency.
- Increased customer loyalty.
- Real-time data for the decision-making process.
- Streamlining of business processes, as well as more accurate forecasting.
Learn More About IoT Platforms and Other Things IoT
Thank you for tuning in! Join us next time on another episode of IoT Nuggets!