Crypto is disruptive. And now, it’s changing the future of cellular networks and what they cost.
What’s happening:
- Crypto based wireless cellular network company Helium Mobile has announced a new nationwide plan for the entire United States
- Helium is bringing their peer to peer internet of things network together with T-Mobile to offer an unlimited plan to users
The big idea:
- Helium offers an unlimited cell phone plan for a flat rate of $20 per month which is compatible with any device and doesn’t require entering into a contract
- They are able to drastically cut operating costs by incentivizing users to build and expand the Helium wireless network through a crowdsourced approach
How it works:
- Helium has empowered users to set up their own Helium Mobile Hotspots and contribute to the larger network seamlessly
- Helium Mobile Hotspots function as small scale cell towers that eliminates dead zones and expand the wireless access of the Helium network
- Users who set up their own hotspot are then rewarded with tokens as payment for helping maintain the network
Market reaction:
- Helium’s governance token ‘HNT’ is up +75% since the announcement of their nationwide plans becoming available
The intrigue:
- Helium previously migrated from their own blockchain to the Solana blockchain after a community vote
By the numbers:
- There are currently 3,854 active hotspots across the Helium Mobile network
- The last financing round for Helium saw the project raise $200M USD at a $1.2B USD valuation
