Nov 19, 2020 at 6:31 p.m.UTC
Helium team, left to right: Pierre Defebvre, Andrew Allen, Rahul Garg, Brian Bussiere.(Helium) Helium Wireless Network Approves New Hard Cap for HNT Token Emissions
Helium is hard-capping production of the tokenized fuel that powers its decentralized wireless network.
Under a newly passed improvement proposal, Helium miners will stop adding to the circulating supply of HNT tokens at 223 million, a figure they will reach sometime in 2070 once bi-annual “halvenings,” also new to the network, have reduced new HNT monthly issuance to a negligible amount.
But that inflation hard cap does not mean an end to HNT mining.Miners will continue to mint HNT tokens even after they hit 223 million by replacing burned tokens.
Project contributors say this will continue to incentivize mining even after inflation subsides.
Called “net emissions,” the unique twist is made possible by the nature of the Helium network.
HNT tokens are essentially data credits for users.They spend and burn their HNT supplies to share data across Helium’s low-power alternative to WiFi and cellular networks.
Newly minted tokens replace the ones removed through user activity.
The token currently has a $74.5 million market cap, according to CoinGecko.
HNT’s tokenomics had already accounted for gradual inflation – sort of.Project contributor James Fayal told CoinDesk the network previously issued 5 million tokens monthly using an equilibrium model meant to keep inflation in check.
But the coming changes will introduce a max supply that outside investors can more easily comprehend.
“Historically the biggest sort of question people have had about Helium tokenomics, people that are interested, they look at and go, ‘Oh, that’s really cool.You know, I don’t want to get involved with a token that has an infinite supply.’”
Introducing a hard cap conceptually similar to that of Bitcoin is meant to make the system more understandable to the crypto community, Fayal added.
Helium intends to implement the new tokenomics in time for HNT’s first scheduled halvening in August 2021.
The project, backed by a Series C funding round of $15 million from the likes of Union Square Ventures and Multicoin Capital, currently has roughly 12,500 hotspots in the wild.A third-party manufacturing deal announced in September has seemingly boosted the reach of the network.
“The Helium Network is growing like a weed largely in part due to the new RAK miners, which slashed the cost to entry by 50% and made mining HNT a more attractive enterprise,” said Multicoin investor Tushar Jain.“At the current pace, I expect there to be more than 20,000 hotspots deployed around the world by the end of the year.” Share this: Walmart Joins Pharmaceutical-Tracking Blockchain Consortium MediLedger feature Big-box retail giant Walmart has joined MediLedger, a consortium building a blockchain for tracking the provenance of pharmaceuticals.
A spokeswoman for the Bentonville, Arkansas-based company confirmed Walmart’s participation to CoinDesk but had no further comment.The move represents a deepening of Walmart’s involvement with blockchain technology.Separately, the retailer is a key participant in… tZERO Plans to Support Trading of Aspencoin Ski Resort Digital Security Jul 22, 2020 at 18:11 UTCAspen Digital Inc.raised $18 million selling Aspencoin in 2018.(Wolfgang Moroder/Wikimedia Commons)tZERO President Saum Noursalehi said Wednesday that his token trading platform plans to enable trading of St.Regis Aspen Resort digital securities later this quarter.
The security-token focused offshoot of Overstock.com will support trading of “Aspen Digital Tokens”… Bitcoin Averts Bearish Trend Change But Stalls Beneath Key Price Average news Bitcoin’s price action has stalled beneath the 100-day moving average, signalling indecision and increasing the odds of another sell-off.The daily technicals (RSI and awesome oscillator) show no signs of a relief in bearish selling pressure, at least not for the next few days.Should the bulls conceit defeat this week, expect another retest… Scaramucci’s $9.2B SkyBridge ‘May Seek Exposure to Digital Assets’ Nov 16, 2020 at 5:21 p.m.UTCScaramucci’s $9.2B SkyBridge ‘May Seek Exposure to Digital Assets’Anthony Scaramucci’s mega hedge fund, SkyBridge Capital, just gave itself the ability to bet on cryptocurrencies from afar.In a series of filings with the U.S.Securities and Exchange Commission published Friday and Monday, the $9.2 billion asset manager helmed by the… SEC Commissioner Fears ‘Heel-Dragging’ Will Stifle Crypto Innovation news Hester M.Peirce, a member of the Securities and Exchange Commission, is worried that the regulator is moving too slowly for the crypto ecosystem.
Addressing fellow regulators at the Securities Enforcement Forum in Palo Alto, California (the heart of Silicon Valley) on Monday, Peirce said that one year ago she was concerned that the SEC “as… Facebook’s New Crypto Faces Scrutiny From European Authorities news The unveiling of Facebook’s Libra cryptocurrency was immediately met with political opposition in Europe.
French Finance Minister Bruno Le Maire and German member of the European Parliament Markus Ferber called for regulatory scrutiny of the social network’s blockchain project, according to Bloomberg.Facebook, with more than 2 billion users, could become a “shadow bank,”… Nervos Network Will Hand Out $30M to Encourage Third-Party Development Jan 9, 2020 at 12:00 UTCUpdated Jan 9, 2020 at 12:02 UTCTeam image courtesy NervosNervos Network has set up a $30 million public grant fund to sponsor external developers building on its blockchain infrastructure.Announced Thursday, the fund will pay developers in cash, rather than equity or tokens, and all submitted projects will be made public… Qtum Lets Users Deploy a Full Blockchain Node on Google’s Cloud Platform news Qtum, a project that began as a bitcoin-blockchain hybrid, is expanding its reach by adding Google’s Cloud Platform to its list of software partners.The offering is simple: a $15 per month virtual machine that users can spin up and run instantly on the Cloud Platform.
The software, available here, allows users to “develop and… Iran’s Recognition of Crypto Mining Prompts Local Bitcoin Price Spike The Iranian government has recognized cryptocurrency mining as a lawful activity as part of its effort to introduce a national cryptocurrency – a move that saw bitcoin’s price briefly spike to record levels on local exchanges.According to news agency IBENA, which is affiliated to the Central Bank of Iran, Abolhassan Firouzabadi, the Secretary of Iran’s Supreme… Leave a Reply You must be logged in to post a comment.Search.
