Napster’s blockchain firm Helium has launched a blockchain based LongFi IoT(Internet of things). It hopes to reimagine networking for low-powered devices while attracting customers with cryptocurrency rewards. Helium has raised a whopping $51 million for the wireless network program so that it has fully functioning network sufficiently spread out. This information comes from a blog post of Helium.
The Helium Hotspot is only available for purchase in Austin and Texas for now. It will release nationally in the 4th quarter of this year and globally in the near future.
The blockchain based longFi hotspots can extend 200 times farther than a standard WiFi connection. It only requires 50 to 100 hotspots to cover an entire city. The mining mechanism of the longFi within the blockchain requires less energy than the traditional blockchain based consensus algorithms.
The use of new technology can go beyond internet uses. Connecting to these networks could help pet owners track down lost pets using smart collars. It can help detect smoke or heat preventing wildfires. Also, bike theft can be checked with the help of location detecting sensors.