Helium
Helium is a decentralized wireless network providing tools and facilitating access to internet connectivity for Internet of Things (IoT) and mobile device holders.
Website: https://www.helium.com/
HQ: San Francisco, California, United States
Active Markets: 5G only in the US; IoT networks are global.
Problem Addressed
While internet access has become crucial for modern society, connectivity is limited by provider market share dominance who control prices with little competition, limited ranges of coverage that prioritize regional profitability.
Project Description
Helium is a decentralized network of wireless infrastructure offering lower deployment costs and faster deployment speed than traditional networks. Blockchain and crypto help coordinate participants with incentives to maintain the network and provide coverage for others seeking connectivity. Helium enables devices anywhere in the world to wirelessly connect to the Internet or smaller networks without direct use of satellite location hardware or cellular plans.
Helium uses blockchain and tokenomics to encourage people to own and install hotspot devices, join the network, and offer network auditability and proof of coverage. Helium also provides tools for environmental event monitoring, such as air quality, water, and extreme weather conditions, helping to improve capabilities of recognizing and responding to climate-change weather events.
Business Data
Status: Active
Constituency Served: enterprises, general public
Networks: Solana
Known Investors: a16z, Munich Re Ventures, Khosla Ventures, Tiger Global Management, Google Ventures, FirstMark, Ribbit Capital, Pantera Capital, Seven Seven Six, Liberty Global, among others.
Additional References: Whitepaper
Progress to date
Helium launched in 2019 as its own blockchain network for wireless connectivity. In April 2023, Helium announced their full migration to the Solana blockchain, improving on the project’s transaction processing speed and smart contract functionality. As of 2023, there were over 25 approved Hotspot manufacturers and four major LoRaWAN roaming partners.
In the fall of 2023, Helium announced the Foundation Membership Program, which encouraged community participation in network governance, ecosystem expansion, network advocacy efforts, and opened up new leadership positions. In January 2024, Helium secured a partnership with Telefónica, one of the largest telecommunications services providers in Latin America, to provide mobile hotspots across Mexico.
Business Model
The Helium network and participants providing connectivity earn transaction fees in the form of tokens for maintaining coverage.
Traction
As of April 2024, Helium registered over 980,000 hotspots, including 394,000 active IOT hotspots and 14,000 active mobile hotspots. Helium is the largest LoRaWAN network in the world, providing coverage in over 77,000 towns and cities and 192 countries.