- Eric Vladimirsky has tried mining various altcoins but now prefers to mine Helium, which relies on users setting up hotspots in their homes that provide a secure low-bandwidth wireless signal for IoT devices.
- He outlines how he set up his mining operation, including a discussion of the devices he uses to earn HNT crypto, which are small, quiet, and require minimal electricity.
- Mining HNT gives someone the opportunity to trade it for other cryptocurrencies such as bitcoin or altcoins.
Mining cryptocurrencies is often associated with bitcoin and sometimes ether. But one popular trend that has crypto enthusiasts foaming at the mouth is the mining of Helium. The trend, which touts itself as a people-powered network, relies on users setting up hotspots in their homes that provide a secure low-bandwidth wireless signal for IoT devices.
One of these increasingly popular mini-devices retails for about $350, looks like a regular internet router, and is so widely sought-after that the handful of manufacturers currently making them are backed up on orders and have a waitlist.
The concept of mining used by Helium’s blockchain is different from that of traditional proofing. It uses radio waves to validate other hotspots to prove they are providing wireless coverage, relay device data, and validate another device’s location.
