Helium Blockchain Hits the Gas

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By Michela Menting | 3Q 2021 | IN-6262


Adoption Grows and Funds Flow


The global blockchain-based LoRaWAN network known as Helium recently hit 134k deployed Hotspots. This is a remarkable feat for a startup with a live network that is barely two years old and leaning on individuals to buy and deploy the gateways that make up the infrastructure. More impressive still are the 40,000 Hotspots added in the last month alone. That’s an average of 1,300 new Hotspots connecting to the network each day.

In addition to network growth, Helium recently announced an influx of US$111 million through a token transaction. Individuals were not the only buyers; among those involved were a number of high-profile venture funds, notably Ribbit Capital, 10T Holdings, Alameda Research, Multicoin Capital, and A16z. 

Despite little to no marketing efforts undertaken by the company since inception, both events have catapulted Helium into the limelight; first, as a successful application of blockchain technology and second, as an increasingly viable alternative to traditional network operators in the IoT space. The question is, what is Helium doing right and can…

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