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- Billionaire Bill Ackman hasn’t invested in Helium protocol.
Bill Ackman, a globally popular investor and billionaire, said, “crypto is here to stay.” Even after the FTX exchange collapses and crypto winter, Ackman remains bullish.
Ackman, the founder and Chief Executive Officer of Pershing Square hedge fund management, and has praised Helium in his twitter post.
In a long Twitter thread, Bill said, ” I think crypto is here to stay, and with proper oversight and regulation, it has the potential to greatly benefit society and grow the global economy.”
Moreover,it is noted that Bill Ackman has no active investment in Helium.
What is Helium, and When was it established?
Helium(HNT) is a decentralized blockchain-powered network for the Internet of things(IoT) devices; HNT was launched in 2019.
The mainnet of Helium allows low-power wireless devices to contact/Communicate with each other and transmit the data across its network of nodes.
The main motto of Helium is to prepare IoT communication for the future, identifying inadequacies in current infrastructure since it was established in 2013.
Bill Ackman highlighted, “As a result, over time, a two-sided market for HNT develops in which miners buy hotspots and deploy them around the globe to earn tokens Users, in turn, purchase HNT tokens to use the network. The more demand for the network, the more demand for HNT.”
What are Helium Miners, and How do they Work?
Helium miners provide the Helium network wireless network coverage using specially designed hardware known as hotspots. By creating a WHIP complaint hotspot and staking a token placed correlated to the fortune of other miners working in that area, users become miners on the Helium network.
Radio waves technology is used in the Helium mining process rather than CPUs or ASICs. Other than that, blockchain technology is utilised to make a wireless network that is much more trustworthy than the network offered by settled wireless service providers.
Helium hotspots or miners offer long-range wireless coverage by a particular device known as LoRaWaN transmitters.
According to CoinMarketCap, while writing this article, the native of Helium(HNT) is trading at $2.16 with a 24-hour trading volume of $ 3,678,864.
On September 17, 2022, TheCoinRepublic reported that Helium was planning to shift to its blockchain, Solana.
The HIP 70 proposal, which was just made public, explains why the core developers of Helium want to transfer the network from their custom chain to Solana, a leading smart contract platform for decentralized apps (dapps), network functions tokens (NFTs) and decentralized finance (DeFi) protocols.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
