The idea of a decentralized network was taking hold in Cuba, where citizens were fed up with the slow and expensive internet service provided by the state-owned telecommunications company. Global spending on Internet of Things in 20 (that’s a lot of things) Instead of the cell towers of centralized phone companies (large and expensive), a network of volunteers would host mini cell towers that connected to each other (small and inexpensive).įigure 4-1. These hotspots would connect with hotspots around them, like repeaters that boost a wireless signal within your home, creating a kind of decentralized mesh network. Before the Internet of Things was even a thing, the two entrepreneurs saw that tiny sensors would soon be embedded in millions of devices: thermostats, fire alarms, kitchen appliances, inventory trackers, and maybe eventually your dog.Īll these devices had one thing in common: they would need a low-cost, low-power wireless connection to the internet ( Figure 4-1).īy 2014, Amir and Shawn’s idea had evolved into creating a wireless network out of millions of hotspots. It was a classic technology problem: they were building supply, but would there be enough demand? Would the company be able to find customers who wanted to use this new low-cost, lower-power wireless network, or would Helium ultimately tank?įounded in 2013 by Amir Haleem, a championship video gamer, and Shawn Fanning of Napster fame, Helium’s original business idea was to create a giant wireless network, like a cellular network, but for the low-cost, low-power, low-bandwidth world of sensors. One side of his marketplace-the network-was lighting up, but the other side was still shrouded in darkness. As he saw each Hotspot blip to life on his digital map of Austin, each widening the circle of coverage, he felt a mixture of pride and relief that the dream he and his team had envisioned six years ago was finally becoming a reality. This was a critical time to achieve critical mass, and Helium tokens were the hook.Īs the party attendees returned home and began to plug in their Hotspots, Amir monitored the growth of the network over the next several days. Knowing that the strength of any blockchain project is user adoption-getting people to join your blockchain-Amir understood that this small but committed tribe of early adopters would be key to kickstarting the initial wireless coverage for the Helium network. ![]() These little Hotspots, in other words, would be minting money. In return, they’d be paid in blockchain-based Helium tokens. These early users would be building a massive wireless network not on phone company towers, but on small wireless devices located in their offices and bedrooms. ![]() ![]() Helium was now a real shipping product, not just vaporware.Īs Amir conversed with members of the crowd, he noted some were blockchain enthusiasts, some were Internet of Things (IoT) experts, and some were just geeks who wanted to be part of this groundbreaking experiment. After months of marketing and promotion, participants had come from all over Texas to pick up their Helium Hotspots. Kyle Samani, managing partner, Multicoin CapitalĪs CEO Amir Haleem looked over the crowd of several hundred people who had filled Austin’s trendy La Condesa restaurant for the August 2019 Helium launch party, he was overwhelmed by the enthusiastic response of all these early users who were eager to build The People’s Network. ![]() Helium presents the most ambitious new use case for blockchains we’ve seen since Ethereum. The second was Ethereum, which introduced general-purpose smart contracts. The first major breakthrough was bitcoin, which invented digital gold. Helium: A Blockchain-Based Wireless Network
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