Jump to content

Helium Network

Edit links
From Wikipedia, the free encyclopedia

Helium Network
Denominations
CodeHNT
Development
Original author(s)Amir Haleem
Initial release2017 (8 years ago) (2017)
Code repositoryhttps://github.com/helium/
Development statusActive
Developer(s)Nova Labs & Helium Foundation
Ledger
Block explorerworld.helium.com
Website
Websitehelium.com

The Helium Network refers to two partially decentralized wireless networks. First, the Helium Network includes an Internet of things (IoT) network using the LoRaWAN system. There is also a wifi network that supports a related MVNO called Helium Mobile. Both networks are tied to the cryptocurrency Helium Network Token (symbol HNT).[1] Nodes on the networks may be owned and placed by individuals in their homes or offices, and owners of nodes are rewarded for their participation in the networks in payments of HNT.[2]

Despite the decentralized label, Helium Network is effectively operated by Nova Labs, Inc. Amir Haleem is the founder and CEO of Nova Labs.[3]

History

[edit]

The Helium Network was begun by Helium, Inc. in 2013, as a network of LoRa gateway hotspots which could be deployed throughout an area by agreements with building owners, typically paid in conventional currency.

In 2017, the company's funds were running low, so it switched to a new strategy: offering individuals payment in cryptocurrency to operate individually owned nodes in their homes or offices. These individually owned nodes are purchased at costs of up to $500 each, and the payments to owners vary based on data usage but can be as low as $.10 a month.[4] Hotspot operators would also have a vote in the operation of the network.[1]

In 2021, Helium partnered with Dish Network to deploy thousands of Helium hotspots across Dish's nationwide cellular network, further expanding Helium's reach.[5]

In March 2022, Helium Inc. rebranded to Nova Labs Inc. and raised $200 million in a funding round led by Tiger Global Management and Andreessen Horowitz.[6]

In August 2022, Helium integrated with the 5G network. Helium 5G utilizes a decentralized approach, building a cellular network powered by Helium Hotspots equipped with 5G radios. These hotspots, deployed by individuals or businesses, provide local coverage and relay data within the network.[7][8]

Reports in July 2022 alleged that Helium falsely had claimed Lime and Salesforce as two of their major customers for years, despite neither company having a formal relationship with Helium or using the network.[4][9] Nova Labs CEO Amir Haleem has disputed these claims.[10]

In 2023, Nova Labs began offering cellular services and related plans under the name Helium Mobile. Helium Mobile users utilize both TMobile infrastructure as well as the Helium Network's own wifi hotspots. On April 28th, 2025, the official Helium x.com account reposted a claim that Helium Mobile has over 176,000 subscribers.

Litigation

[edit]

On Jan 17 2025, the US Securities and Exchange Commission (SEC) filed a complaint against Nova Labs Inc., a company that developing the Helium Network, alleging that the company raised “millions of dollars from investors through its unregistered sales of securities in the form of “Hotspots” – electronic devices that “mine” one of three Nova Labs crypto assets.” The lawsuit also alleged that Nova Labs misled investors regarding multiple high-profile partnerships.[11] On April 10, 2025 the SEC agreed to dismiss unregistered security claims and Nova Labs chose to resolve the case efficiently by agreeing to a $200,000 no admit/no deny settlement tied to its Series D equity financing.[12]

See also

[edit]

References

[edit]
  1. ^ a b Roose, Kevin (February 6, 2022). "Maybe There's a Use for Crypto After All". The New York Times. Retrieved March 20, 2022.
  2. ^ "How blockchain is revolutionizing IoT". RCR Wireless. March 14, 2022. Retrieved March 21, 2022.
  3. ^ "SEC FORM D". www.sec.gov. Retrieved January 30, 2025.
  4. ^ a b Binder, Matt (July 29, 2022). "Web3 darling Helium has bragged about Lime being a client for years. Lime says it isn't true". Mashable. Retrieved July 30, 2022.
  5. ^ "DISH Partners with Helium to Leverage the Helium Network's Blockchain Model using CBRS Spectrum". About DISH. Retrieved December 25, 2023.
  6. ^ Miller, Hannah (March 30, 2022). "Crypto Wireless Company Helium Hits Unicorn Status". Bloomberg. Retrieved July 30, 2022.
  7. ^ "Is Helium's New '5G Network' Just Hot Air?". PCMag Australia. August 5, 2022. Retrieved December 25, 2023.
  8. ^ Tofel, Kevin C. (August 31, 2022). "What the heck is this Helium 5G network?". Stacey on IoT | Internet of Things news and analysis. Retrieved December 25, 2023.
  9. ^ Clark, Mitchell (July 29, 2022). "Helium says its crypto mesh network is used by Lime and Salesforce — it isn't". The Verge. Retrieved July 30, 2022.
  10. ^ Haleem, Amir [@amirhaleem] (December 5, 2023). "Salesforce and Lime emails demonstrating collaboration" (Tweet) – via Twitter.
  11. ^ "SEC.gov | Nova Labs, Inc". www.sec.gov. Retrieved January 30, 2025.
  12. ^ "SEC Dismisses Claims Against Helium – A Major Win for The People's Network" (Press release). San Francisco, California: Nova Labs. April 10, 2025. Retrieved April 10, 2025.
[edit]
Retrieved from "https://en.wikipedia.org/w/index.php?title=Helium_Network&oldid=1287849117"