This creation and removal of HNT and Data Credits is termed a Burn-And-Mint Equilibrium, and thus creates a supply and demand-based Helium economy. Once obtained, the HNT is "burned" from the circulating HNT supply to create Data Credits. ![]() When a company or individual wishes to use the Proof of Coverage network, they must mine HNT or obtain HNT from an owner. The Helium Network allows an inexpensive option to connect these low data use devices over long distances, up to miles, where WiFi would be inaccessible and cellular data would be cost prohibitively expensive. Who might take advantage of the Helium Network? Anyone who uses devices to measure pet trackers, bike trackers, temperature, weight, water levels, soil sensors or even mice killed in an electrified mousetrap ( read more here). This coverage verification is important because for the Helium Network to work Hotspots must be placed appropriately to ensure stable and reliable coverage for the devices connected to the network. Proof-of-Coverage verifies the miner's Hotspots are honestly representing their location and wireless network coverage they create from that location. Miners earn greater amounts of HNT if they transmit and receive with more Helium hotspots, so hotspot placement and antenna strength are key factors in HNT earning potential. ![]() Miners purchase a Helium Hotspot to use RF radio signals to provide coverage in return for payment in Helium tokens (abbreviated as the cryptocurrency HNT). Coverage providers for the Helium Network are known as "miners". Helium is a decentralized wireless network using low power smart devices (IoT) to transmit and receive data to and from the internet.
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