The Internet of Things is an $800 billion industry, with over 8.4 billion connected devices online, and spending predicted to reach nearly $1.4 trillion by 2021. Most of these devices need to connect to the Internet to function. However, current solutions such as cellular, WiFi, and Bluetooth are suboptimal: they are too expensive, too power hungry, or too limited in range.Helium is a decentralized machine network that enables machines anywhere in the world to wirelessly connect to the Internet and geolocate themselves without the need for power-hungry satellite location hardware or expensive cellular plans.
Powering the network is a blockchain with a native protocol token incentivizing a two-sided marketplace between cover- age providers and coverage consumers. With the introduction of a blockchain, Helium injects decentralization into an industry currently controlled by monopolies. The result is that wireless network coverage becomes a commodity, fueled by competition, available anywhere in the world, at a fraction of current costs.
Helium’s secure and open-source primitives enable developers to build low-power, Internet-connected machines quickly and cost-effectively. Helium has a wide variety of applications across industries and is the first decentralized machine network of its kind.