The blockchain technology has entered into nearly all the businesses, the latest addition to the list is telecommunication industry.
The 2013 born blockchain startup has raised 15 million dollars through Series C investment from prominent investors like Union Square Ventures and MultiCoin capital. The investors will acquire equity and shares that the company will accumulate in the next seven years.
In a blog, MultiCore has told Helium is the most exciting project after Ethereum. It has a new approach to managing wireless networks. It will radically reduce the cost for deployment of wireless services.
Helium uses blockchain to facilitate wireless connections. The company has launched its premium product for public sale. The company has launched its most significant product Hotspot ever since its establishment.
Hotspot of Helium differs from other typical mobile hotspots in a way that connects both laptop and mobile with highspeed internet connections. The “Longfi” technology used in Helium Hotspot can connect 200 times quicker than traditional Wi-Fi connections. It is also said that a city may need 50 to 100 Hotspot to cover it entirely.
The company released a white paper last year in that they clarified how decentralized wireless network uses radio frequency available openly to connect public internet and IoT devices. The latest launch of Helium will help the pet owners to track their lost pets by merely using smart collars. It can also follow the lost scooters of Lime Plans a fastest growing scooter startup. The leased motorbikes and scooters are perfect for Helium network and will help them to reach majority acceptance.
The potential of the wireless standards has helped Helium to raise a fund worth $51 million is last few years from investors like GV, Khosla Ventures, and Marc Benioff. Napster’s inventor Haleem is the co-creator of Helium.
The five Kilo byte connection of Helium will have to compete with SigFox another lesser capacity IoT protocol, but the co-founder is hopeful about its centralized infrastructure price.
Data credits and Helium are the two tokens of Helium blockchain. Helium token can be mined using hotspot of Helium. There is no service cap and pre-mine on Helium.