What is Helium?
Helium is a decentralized wireless network that wants to redefine how we think about mobile connectivity, IoT (Internet of Things) infrastructure, and crypto’s role in traditional industry. Founded in 2013, Helium was initially envisioned as a solution to the growing demand for low-cost, decentralized IoT infrastructure.
Over time, Helium expanded its focus, now aiming to disrupt the broader telecommunications industry by offering a decentralized alternative to traditional cellular networks with the Helium Mobile initiative. Through its innovative approach to the buildout of physical infrastructure, Helium has created a network powered by individual users, leveraging blockchain technology and token incentives to encourage the deployment of wireless hotspots. As of writing this, Helium is one of the more well known and category definers of the DePIN (decentralized physical infrastructure networks) sector of crypto.
The idea behind DePIN is that instead of relying on centralized entities like traditional telecom providers (in Helium’s example) to build and maintain network infrastructure, Helium distributes that responsibility to a community of hotspot operators. These individuals install affordable Helium-approved hotspots, which serve as nodes within the network, providing coverage for IoT devices and mobile users. In return for their participation, hotspot operators are rewarded with Helium tokens (HNT), creating a mutually beneficial ecosystem where users and the network both thrive.
Originally, Helium's focus was on IoT devices, and it built out a network to support low-power, low-bandwidth communication via the LoRaWAN protocol. This allowed for applications such as environmental monitoring, asset tracking, and smart city infrastructure, which require reliable but low-data-rate communication. But as the IoT market matured and its limitations became more apparent, Helium shifted gears to address the much larger and more lucrative mobile telecom space. This move gave birth to Helium Mobile, a decentralized cellular network that operates alongside traditional carriers (like T-Mobile or Telefonica), offering competitive pricing and expanding coverage by using its decentralized model.
The introduction of Helium Mobile marked a significant step forward for Helium. Through a mobile virtual network operator (MVNO) approach, Helium partners with existing telecom companies like T-Mobile to offer users seamless cellular service while also routing some traffic through Helium’s decentralized network. This hybrid model allows Helium to provide coverage in areas underserved by traditional networks while reducing costs by offloading some of the infrastructure to its network of hotspots.
One of Helium’s most appealing advantages comes from its cost structure. Traditional telecom companies invest billions of dollars in building and maintaining cellular towers, fiber backhaul, and other infrastructure. In contrast, Helium’s decentralized model dramatically reduces these capital expenditures. By incentivizing individuals to install and manage the infrastructure, Helium can offer services like its $20/month unlimited data plan, a stark contrast to the $60-90 per month typically charged by incumbents like Verizon and AT&T.
As of today, Helium boasts over a million active hotspots globally and a growing subscriber base for Helium Mobile. This success showcases the potential for decentralized networks to complement or even challenge traditional infrastructure-heavy telecom models. Helium’s ongoing efforts to partner with global carriers like Telefonica further demonstrate its ambition to integrate with the existing telecom ecosystem while offering an alternative model for the future of wireless connectivity.
Exploring Helium’s Products
Helium’s product ecosystem revolves around two core offerings: Helium IoT and Helium Mobile.
Both services leverage Helium’s decentralized infrastructure model, but they cater to distinct markets with different technical requirements and use cases. Understanding the differences between these two products is key to grasping Helium’s broader strategy of expanding decentralized wireless connectivity and disrupting traditional telecom sectors.
Helium IoT, as the name suggests, focuses on providing connectivity for IoT devices. This service operates using the LoRaWAN protocol, a low-power, wide-area network technology designed to connect devices that need to transmit small amounts of data over long distances. Typical IoT applications include environmental sensors, smart meters, asset tracking, and other low-bandwidth, high-frequency use cases. These devices don't require the high speeds or extensive data capabilities of cellular networks, but they do need reliable coverage and low energy consumption, making LoRaWAN an ideal solution.
Helium's decentralized model fits well with the needs of IoT networks, which require vast geographic coverage but minimal data usage. Helium IoT’s hotspots can be deployed by individuals at a relatively low cost, and because these devices consume so little power and data, they are both affordable and efficient to maintain. This allows Helium to offer extensive coverage at a fraction of the cost compared to traditional centralized networks. Helium IoT’s strength lies in its ability to cater to niche use cases that are capital inefficient for large telecom companies but essential for applications like smart cities, environmental monitoring, and logistics.
On the other hand, Helium Mobile represents Helium’s expansion into the more data-intensive world of cellular networks. Whereas Helium IoT is focused on low-bandwidth communication, Helium Mobile is designed to provide full-fledged 4G and 5G mobile connectivity, targeting a much broader consumer base. Helium Mobile operates as a decentralized mobile network, meaning it offers similar services to traditional telecom providers but with the added benefit of decentralization. It introduces an MVNO model, which partners with existing telecom carriers to supplement coverage and ensure users have seamless connectivity.
One of the major differences between Helium IoT and Helium Mobile lies in their respective data demands and infrastructure requirements. While IoT devices typically only send small packets of data sporadically, mobile networks need to handle much larger amounts of data on a continuous basis. Helium Mobile, therefore, needs to integrate more complex infrastructure and support higher-speed connections to meet consumer expectations for smartphone usage, video streaming, and mobile app functionality. As a result, Helium Mobile incorporates traditional telecom infrastructure through partnerships, such as its agreement with T-Mobile, to provide users with a reliable hybrid network.
Another critical distinction is the business model behind each product. Helium IoT operates on a pay-per-usage model, where businesses and individuals pay for the data their devices transmit across the network. This makes it an attractive option for IoT applications that only need to transmit data occasionally and at low cost. In contrast, Helium Mobile offers a more conventional subscription-based model, where consumers pay a fixed monthly fee for unlimited mobile data. The pricing model for Helium Mobile is designed to be significantly cheaper than traditional telecom providers, with plans starting as low as $20 per month, thanks to the cost savings from its decentralized infrastructure.
The strategic direction of Helium as a company is heavily influenced by the different target markets of these two products. Helium IoT is focused on specialized use cases, primarily in industries that require large-scale sensor networks, such as agriculture, logistics, and urban planning. As the IoT market continues to grow, Helium’s decentralized approach positions it to capitalize on the increasing demand for wide coverage at minimal cost. Helium Mobile, by contrast, is aimed at the mass consumer market, providing a low-cost alternative to traditional mobile carriers while leveraging the decentralized model to reduce capital expenditure.
The evolution of Helium from a purely IoT-focused company to one that now includes mobile services reflects the shifting priorities in the telecom industry. IoT alone, while promising, didn’t provide the revenue potential or scale that Helium needed to realize its broader ambitions. By expanding into the mobile telecom sector, Helium is able to leverage its existing infrastructure while targeting a much larger and more lucrative market. The move into mobile also aligns with the growing trend of decentralized networks looking to disrupt industries dominated by a few large players, offering consumers more choice and lower costs.
Ultimately, Helium IoT and Helium Mobile are two sides of the same decentralized network coin, but they serve vastly different markets with varying technical demands.
Together, they represent Helium’s vision of a decentralized wireless future, where the same network infrastructure can support both niche IoT applications and mainstream mobile users. Helium’s ability to pivot and innovate within these two distinct sectors speaks to its broader ambition of redefining how wireless networks are built and operated.
Helium’s Performance To-Date
Helium’s growth since its inception has been nothing short of impressive, with the network seeing rapid expansion in both its IoT and mobile infrastructure deployments. One of the key indicators of Helium’s success is its expanding network of active hotspots, which serve as the backbone of its decentralized wireless infrastructure. As of September 2024, there are over 357,000 active IoT hotspots and 20,622 active mobile hotspots, showcasing the network’s global presence. These hotspots are deployed by individual operators incentivized through Helium's token rewards, allowing the network to grow organically without requiring heavy capital expenditure from a central authority. This decentralized model has allowed Helium to become one of the most widely deployed networks of its kind, covering significant areas in North America, Europe, and Asia.
The data usage statistics provide another metric of Helium’s impressive growth. As of early September 2024, 20.47 terabytes (TB) of data have been offloaded through the network, a significant increase over the past few months. This surge in data usage highlights Helium’s growing adoption, particularly by users of other carriers leveraging Helium’s mobile hotspots for data offload. As part of its beta deployment, Helium now supports 789,846 subscribers from other carriers, underscoring its potential to disrupt traditional mobile telecom markets by providing seamless and cost-effective coverage through its decentralized infrastructure. The continuous rise in offload subscribers is a clear sign of the platform’s scalability and its ability to serve an increasing number of users without sacrificing performance.
One of the more notable metrics is the number of offload hotspots, which currently stands at 762. These hotspots allow subscribers from traditional telecom providers to offload their data onto the Helium network, providing a tangible example of Helium’s hybrid model that complements existing mobile networks. By offering such a solution, Helium not only expands its own network but also reduces congestion and reliance on traditional telecom infrastructure. The ability to provide mobile coverage through decentralized infrastructure while still collaborating with existing telecom carriers is a significant competitive advantage for Helium, offering a glimpse into how decentralized wireless can complement, rather than replace, traditional telecom models.
The Helium network also boasts strong tokenomics that help fuel its continued expansion. For example, Helium's IoT utility score is over 313 billion, and its daily emissions for the IoT network have reached 89 million tokens. The mobile side of Helium’s ecosystem is equally impressive, with a utility score of nearly 983 billion and daily token emissions of 82 million. These figures reflect the growing utility of the network and its ability to incentivize both users and operators to participate in expanding Helium’s infrastructure. The burning of Data Credits (DC), which stood at 9.6 million over the past 24 hours for IoT and 323.8 million for mobile, further demonstrates the network’s significant transaction volume, with both usage and utility growing as more devices and users leverage the Helium ecosystem.
Geographically, Helium has achieved widespread deployment, as evidenced by the global coverage map. Major concentrations of active hotspots are visible across North America, Europe, and parts of Asia, demonstrating the network’s global reach. The extensive coverage in regions like the United States and Western Europe underscores Helium's success in building a decentralized wireless network that can support IoT devices and mobile offloading at scale. The growing number of hotspots across these regions indicates increasing user adoption and network reliability, as more hotspots contribute to strengthening the coverage and reducing gaps in connectivity.
Another key element of Helium's performance to date is its success in bridging the gap between traditional telecom providers and decentralized infrastructure. By enabling offload subscribers from other carriers, Helium not only alleviates pressure on legacy networks but also offers a cost-effective solution for users seeking alternative connectivity options. With 76 offload subscribers per hotspot daily on average, the platform is proving its value in real-world applications. This metric highlights the utility of each individual hotspot in handling data and users, further demonstrating the efficiency of Helium’s decentralized model in providing wireless coverage.
Helium’s hybrid approach—partnering with established telecom companies while deploying its decentralized infrastructure—has allowed the platform to integrate seamlessly with existing mobile networks. This strategy has positioned Helium as a viable complement to traditional wireless carriers, enabling broader coverage and better connectivity for users at lower costs. The success of its offload model, where users from other carriers utilize Helium hotspots, suggests that this approach is working, allowing Helium to scale without facing the immense capital expenditures that traditional telecom companies incur.
With growing partnerships, increasing data usage, and the continued expansion of its network, Helium is well on its way to becoming a major player in the future of decentralized telecommunications.
Helium and its Competitors
While Helium is one of the most prominent projects in this space, it is not without competition.
Other DePIN projects aim to decentralize various types of infrastructure, ranging from wireless connectivity to cloud computing and storage. Helium’s primary distinction lies in its focus on decentralized wireless networks, but comparing it to its peers and traditional telecom companies highlights both its strengths and potential challenges.
One of Helium’s most direct competitors in the decentralized wireless space is Pollen Mobile, a project that also seeks to create a decentralized cellular network by leveraging blockchain technology and user-owned infrastructure. Like Helium, Pollen allows users to deploy their own cell towers, called "flowers," to provide coverage and earn rewards in the form of cryptocurrency. While both projects share similar goals, Helium’s advantage lies in its established infrastructure and larger network. Helium already boasts over a million hotspots worldwide, providing IoT coverage and expanding into cellular through its Helium Mobile initiative. Pollen, on the other hand, is still in its early stages and has a much smaller footprint. This gives Helium a first-mover advantage, allowing it to attract more users and build partnerships with major telecom providers like T-Mobile.
Another emerging DePIN competitor is XNET, which focuses on creating decentralized broadband networks by enabling users to share their Wi-Fi and internet connections. Similar to Helium, XNET rewards participants with tokens, but it targets residential broadband rather than cellular or IoT connectivity. While the concept is promising, XNET faces significant challenges in scaling its network to the same level as Helium. Wi-Fi networks are inherently limited in range compared to the long-distance coverage offered by Helium’s LoRaWAN-enabled IoT network and its expanding cellular capabilities. Additionally, Helium’s ability to partner with existing telecom carriers gives it a hybrid advantage, whereas XNET’s reliance on residential broadband limits its reach and scalability.
Helium also indirectly competes with decentralized storage networks like Filecoin and Arweave, though these projects focus on decentralizing data storage rather than wireless connectivity. However, all of these projects share the common goal of decentralizing traditional infrastructure and reducing reliance on centralized entities. In this broader context, Helium’s approach stands out due to its dual focus on IoT and cellular networks, both of which are critical components of the global telecom industry. By addressing multiple verticals within decentralized infrastructure, Helium positions itself as a more versatile and potentially disruptive force.
When compared to traditional telecom companies such as Verizon, AT&T, and Telefonica, Helium’s advantages become even clearer. The primary benefit of Helium’s decentralized model is its ability to drastically reduce capital expenditures. Building and maintaining cellular towers, fiber backhaul, and core networks is an expensive endeavor, costing traditional telecom companies billions of dollars annually. Helium, on the other hand, offloads much of this cost to its network of hotspot operators, who purchase and maintain the infrastructure in exchange for HNT. This decentralized ownership model allows Helium to scale its network more efficiently and at a fraction of the cost faced by legacy telecom providers.
Helium’s token-based incentive structure addresses one of the biggest challenges in traditional telecom: network expansion in underserved areas. Rural and remote regions are often neglected by large telecom companies due to the high cost of infrastructure and the low return on investment. Helium’s decentralized approach solves this problem by allowing individual operators to deploy hotspots wherever they see fit, incentivizing coverage in areas that might otherwise be ignored. This democratization of infrastructure deployment means that Helium can achieve broader coverage without the financial burdens that plague traditional telecom companies.
Helium also benefits from a more flexible and adaptive network model. Traditional telecom providers operate rigid infrastructure that requires costly and time-consuming upgrades to support new technologies like 5G. In contrast, Helium’s network is inherently modular. Individual hotspot operators can upgrade their devices independently, allowing the network to scale and evolve more organically. This flexibility not only reduces maintenance costs but also accelerates the rollout of new technologies, giving Helium a competitive edge in staying at the forefront of wireless innovation.
Additionally, Helium’s pricing model gives it a significant advantage over traditional telecom companies. With Helium Mobile offering plans as low as $20 per month for unlimited data, it is positioned as a low-cost alternative to the $60-90 monthly plans offered by incumbents like Verizon and AT&T. This competitive pricing is made possible by the decentralized nature of Helium’s infrastructure, which lowers operating costs and allows the company to pass on savings to consumers. For many users, especially those in price-sensitive markets, Helium’s affordable plans could be a compelling reason to switch from legacy providers.
The hybrid approach that Helium uses—partnering with established carriers like T-Mobile while expanding its decentralized network—also provides a key advantage. Helium is not trying to completely replace traditional telecom infrastructure but rather augment it, particularly in areas where coverage is spotty or expensive to maintain. This allows Helium to offer seamless service to its users while gradually expanding its own network. This strategy minimizes the risks associated with relying solely on decentralized infrastructure, while still delivering the cost benefits and flexibility that come with it.
In the long run, one of the most significant challenges Helium faces is scaling its network to a point where it can directly compete with the global reach and reliability of traditional telecom giants. While Helium’s decentralized approach offers many advantages, it will need to continuously grow its network of hotspots and secure more partnerships with major carriers to ensure consistent, high-quality coverage. However, its early success, particularly in the IoT space, suggests that Helium has the potential to achieve this scale.
The competition between Helium and traditional telecom companies is a David and Goliath story, with Helium representing the lean, innovative newcomer and legacy telecoms as the entrenched incumbents. However, Helium’s unique combination of decentralized infrastructure, token incentives, and partnerships with existing carriers positions it as a formidable challenger. As the demand for wireless connectivity continues to grow, particularly with the rollout of 5G and the expansion of IoT, Helium’s decentralized model could prove to be a more efficient and scalable solution for the future of telecom.
By reducing infrastructure costs, enabling flexible network expansion, and providing competitive pricing, Helium has the potential to disrupt the telecom industry in ways that few others can. Its dual focus on IoT and mobile networks gives it a unique market position, and as the DePIN sector grows, Helium’s first-mover advantage and established partnerships will likely keep it at the forefront of decentralized wireless innovation.
The Helium Ecosystem
The Helium ecosystem is a rapidly expanding network of projects and partners that leverage Helium’s decentralized wireless infrastructure to power various applications. These projects span multiple industries, including IoT, telecom, smart cities, and more, each uniquely benefiting from the low-cost, wide-area coverage that Helium’s decentralized network provides. The diversity and innovation within the ecosystem showcase the versatility of Helium’s network and highlight its potential to disrupt traditional business models across various sectors. Here, we will explore a few key projects within the Helium ecosystem and how they are empowered by Helium’s infrastructure.
One of the most prominent projects within the Helium ecosystem is Actility, a leading provider of IoT connectivity solutions. Actility has integrated with Helium’s decentralized network to offer its clients reliable and cost-effective IoT connectivity, especially for use cases that require wide-area coverage and long-range communication. Actility’s solution, powered by Helium’s LoRaWAN network, enables industries such as agriculture, logistics, and energy to deploy IoT devices at scale without the high costs typically associated with traditional telecom infrastructure. Helium’s decentralized model allows Actility to provide seamless, scalable IoT services to customers across regions, particularly in areas where traditional networks may be less accessible or prohibitively expensive.
Another standout project is Invoxia, which focuses on asset tracking for various industries, including supply chain management, logistics, and personal safety. By using Helium’s network, Invoxia can provide real-time tracking capabilities for a fraction of the cost of traditional GPS systems. Helium’s low-power, long-range coverage is ideal for Invoxia’s use case, where devices need to be tracked across wide areas, often in remote or rural locations. The decentralized nature of Helium’s network enables continuous coverage without the need for costly infrastructure investments, making it a perfect fit for asset tracking solutions that require widespread, reliable connectivity at minimal cost.
Lacuna Space is another innovative player within the Helium ecosystem. This project leverages Helium’s infrastructure to enable global IoT connectivity using low-earth orbit (LEO) satellites. Lacuna’s mission is to provide connectivity for IoT devices in the most remote and inaccessible areas of the world, such as deserts, oceans, and mountainous regions. By combining Helium’s terrestrial LoRaWAN network with satellite coverage, Lacuna Space can offer truly global connectivity solutions. This hybrid model showcases the flexibility of Helium’s network and how it can be extended beyond traditional boundaries to support emerging technologies like satellite-enabled IoT, which is critical for industries such as maritime, wildlife tracking, and environmental monitoring.
One of the more consumer-facing projects within the ecosystem is Nebra, a manufacturer of affordable Helium-compatible hotspots. Nebra’s goal is to lower the barrier to entry for individuals and businesses that want to participate in the Helium network by making it easier and more cost-effective to deploy hotspots. By providing affordable hardware that works seamlessly with Helium’s infrastructure, Nebra plays a critical role in expanding the Helium network. More hotspots mean more coverage, which in turn enhances the network’s utility for IoT devices and mobile users alike. Nebra’s contribution to the ecosystem exemplifies how Helium’s decentralized model allows a wide range of participants—from individuals to enterprises—to contribute to and benefit from network growth.
The broader Helium ecosystem operates as a highly collaborative environment where different projects build on each other to create a decentralized wireless infrastructure that is greater than the sum of its parts. Helium’s unique advantage is its ability to enable projects to deploy wide-area, low-cost connectivity without needing to invest heavily in traditional telecom infrastructure. This allows projects to focus on their core offerings—whether it’s asset tracking, IoT connectivity, or consumer hardware—while relying on Helium’s decentralized network to handle the communication backbone.
The ecosystem is also dynamic in how it fosters innovation. Projects within the ecosystem aren’t just users of Helium’s network; they also contribute to its expansion. For example, projects like Nebra not only deploy hardware but also encourage others to join the network, creating a virtuous cycle of network growth and utility. Similarly, companies like Actility and Lacuna Space, by using Helium’s network to power IoT and satellite connectivity, provide real-world use cases that demonstrate the network’s scalability and reliability, which attracts more participants to the ecosystem.
What’s especially compelling about the Helium ecosystem is how it aligns incentives for all participants. Hotspot operators are rewarded with HNT for providing coverage, which incentivizes network expansion. At the same time, projects using the network benefit from the low-cost, decentralized infrastructure, which allows them to offer more competitive services to their customers. This symbiotic relationship between network users and contributors is a key strength of the ecosystem, ensuring that growth benefits all stakeholders.
The ecosystem’s reliance on open standards like LoRaWAN ensures that it remains accessible to a broad range of industries and applications. The use of open protocols means that Helium’s network can easily integrate with existing systems and technologies, making it more versatile and attractive to enterprises looking to deploy IoT solutions. This openness also allows for greater innovation, as new projects can quickly plug into the Helium network and begin offering services without needing to reinvent the wheel.
Future Outlook for Helium
The future of Helium looks both promising and ambitious as it continues to scale its decentralized wireless infrastructure and expand its market reach. With its innovative DePIN model, Helium has laid the foundation for a new kind of connectivity, one that is user-owned, affordable, and decentralized. As the telecommunications landscape evolves, Helium’s potential to disrupt both the IoT and mobile markets grows more evident, especially as it leverages blockchain technology and token incentives to drive network expansion and adoption.
One of the most exciting prospects for Helium is its expansion into the mobile telecommunications space. With the ongoing global rollout of 5G, there is a clear demand for more robust and affordable connectivity options. Helium’s decentralized model not only reduces infrastructure costs but also allows for more agile expansion. By partnering with major carriers like T-Mobile and using this hybrid MVNO approach, Helium Mobile has the potential to scale rapidly while still providing users with reliable coverage. As more users adopt Helium’s mobile service, the network will continue to grow, creating a positive feedback loop where increased demand drives further expansion of hotspots and coverage.
Looking ahead, Helium’s future will likely be defined by its ability to deepen partnerships with traditional telecom carriers while simultaneously growing its decentralized network. Collaborations with established players like Telefonica already signal that telecom companies are recognizing the benefits of decentralized models, particularly when it comes to lowering operational costs and expanding coverage in underserved areas. These partnerships will be crucial for Helium to gain increased market credibility and attract more users, allowing it to compete with larger, traditional telecom providers on a global scale.
The continued evolution of Helium’s tokenomics will also play a critical role in shaping the project’s future. As the Helium ecosystem grows, the value of its native token, HNT, will be influenced by demand for network services like IoT data transmission and mobile offload. Tokenomics will need to adapt to ensure a balanced incentive structure for both hotspot operators and network users. If done correctly, Helium could create a sustainable economic model where token rewards drive continued network expansion, ensuring that the infrastructure grows in tandem with user demand. This balancing act will be vital to maintaining the long-term health of the network and its token economy.
In the IoT space, Helium’s outlook is equally bright. The global IoT market is expected to grow significantly in the coming years, with industries such as agriculture, logistics, smart cities, and healthcare driving demand for low-cost, wide-area networks. Helium’s LoRaWAN-based IoT network is well-positioned to capture a significant share of this market, especially in applications that require long-range, low-power connectivity. As more companies and municipalities adopt IoT solutions, Helium’s decentralized network offers a compelling alternative to traditional, more expensive infrastructure.
Another area where Helium’s future growth could be significant is in the global push toward smart cities. Cities around the world are increasingly looking to adopt IoT technologies to improve services like waste management, energy consumption, traffic monitoring, and public safety. Helium’s decentralized infrastructure, which allows for the deployment of affordable, user-operated hotspots, could make it easier and more cost-effective for cities to implement these technologies. The potential for widespread adoption of Helium in smart city projects represents a huge opportunity for the network to expand its coverage and utility in urban environments.
Of course, Helium’s growth won’t be without challenges. The project faces the ongoing task of scaling its infrastructure while maintaining network reliability. As the number of hotspots and mobile users increases, Helium will need to invest in optimizing its network to ensure that it can handle the growing traffic load without sacrificing quality. Additionally, regulatory hurdles could emerge as Helium’s decentralized model becomes more prominent, especially as governments and telecom regulators assess the implications of decentralized wireless networks.
Despite these challenges, the future of Helium looks promising due to its pioneering role in the DePIN space. As more industries, consumers, and telecom companies recognize the benefits of decentralized infrastructure, Helium stands to be a key player in this transformation. The project’s innovative approach to solving long-standing telecom issues—such as high infrastructure costs, limited rural coverage, and expensive mobile plans—positions it to capture a significant portion of the market.
In the long term, Helium’s vision of creating a fully decentralized global wireless network could fundamentally reshape the way we think about telecommunications. If successful, Helium’s model could inspire a new wave of decentralized networks across other industries, from cloud computing to energy grids. The implications of such a shift would be profound, leading to greater democratization of essential infrastructure and empowering individuals to take a more active role in building and maintaining the networks they use.
Ultimately, Helium’s future depends on its ability to continue innovating and expanding its reach. With strong partnerships, a growing user base, and a scalable decentralized model, Helium is well-positioned to lead the DePIN movement and challenge traditional telecom giants. The next few years will be critical as Helium seeks to capitalize on the growing demand for affordable, decentralized connectivity, setting the stage for a new era of wireless communication.
Disclaimer: This research report is exactly that — a research report. It is not intended to serve as financial advice, nor should you blindly assume that any of the information is accurate without confirming through your own research. Bitcoin, cryptocurrencies, and other digital assets are incredibly risky and nothing in this report should be considered an endorsement to buy or sell any asset. Never invest more than you are willing to lose and understand the risk that you are taking. Do your own research. All information in this report is for educational purposes only and should not be the basis for any investment decisions that you make.
What is Helium?
Helium is a decentralized wireless network that wants to redefine how we think about mobile connectivity, IoT (Internet of Things) infrastructure, and crypto’s role in traditional industry. Founded in 2013, Helium was initially envisioned as a solution to the growing demand for low-cost, decentralized IoT infrastructure.
Over time, Helium expanded its focus, now aiming to disrupt the broader telecommunications industry by offering a decentralized alternative to traditional cellular networks with the Helium Mobile initiative. Through its innovative approach to the buildout of physical infrastructure, Helium has created a network powered by individual users, leveraging blockchain technology and token incentives to encourage the deployment of wireless hotspots. As of writing this, Helium is one of the more well known and category definers of the DePIN (decentralized physical infrastructure networks) sector of crypto.
The idea behind DePIN is that instead of relying on centralized entities like traditional telecom providers (in Helium’s example) to build and maintain network infrastructure, Helium distributes that responsibility to a community of hotspot operators. These individuals install affordable Helium-approved hotspots, which serve as nodes within the network, providing coverage for IoT devices and mobile users. In return for their participation, hotspot operators are rewarded with Helium tokens (HNT), creating a mutually beneficial ecosystem where users and the network both thrive.
Originally, Helium's focus was on IoT devices, and it built out a network to support low-power, low-bandwidth communication via the LoRaWAN protocol. This allowed for applications such as environmental monitoring, asset tracking, and smart city infrastructure, which require reliable but low-data-rate communication. But as the IoT market matured and its limitations became more apparent, Helium shifted gears to address the much larger and more lucrative mobile telecom space. This move gave birth to Helium Mobile, a decentralized cellular network that operates alongside traditional carriers (like T-Mobile or Telefonica), offering competitive pricing and expanding coverage by using its decentralized model.
The introduction of Helium Mobile marked a significant step forward for Helium. Through a mobile virtual network operator (MVNO) approach, Helium partners with existing telecom companies like T-Mobile to offer users seamless cellular service while also routing some traffic through Helium’s decentralized network. This hybrid model allows Helium to provide coverage in areas underserved by traditional networks while reducing costs by offloading some of the infrastructure to its network of hotspots.
One of Helium’s most appealing advantages comes from its cost structure. Traditional telecom companies invest billions of dollars in building and maintaining cellular towers, fiber backhaul, and other infrastructure. In contrast, Helium’s decentralized model dramatically reduces these capital expenditures. By incentivizing individuals to install and manage the infrastructure, Helium can offer services like its $20/month unlimited data plan, a stark contrast to the $60-90 per month typically charged by incumbents like Verizon and AT&T.
As of today, Helium boasts over a million active hotspots globally and a growing subscriber base for Helium Mobile. This success showcases the potential for decentralized networks to complement or even challenge traditional infrastructure-heavy telecom models. Helium’s ongoing efforts to partner with global carriers like Telefonica further demonstrate its ambition to integrate with the existing telecom ecosystem while offering an alternative model for the future of wireless connectivity.
Exploring Helium’s Products
Helium’s product ecosystem revolves around two core offerings: Helium IoT and Helium Mobile.
Both services leverage Helium’s decentralized infrastructure model, but they cater to distinct markets with different technical requirements and use cases. Understanding the differences between these two products is key to grasping Helium’s broader strategy of expanding decentralized wireless connectivity and disrupting traditional telecom sectors.
Helium IoT, as the name suggests, focuses on providing connectivity for IoT devices. This service operates using the LoRaWAN protocol, a low-power, wide-area network technology designed to connect devices that need to transmit small amounts of data over long distances. Typical IoT applications include environmental sensors, smart meters, asset tracking, and other low-bandwidth, high-frequency use cases. These devices don't require the high speeds or extensive data capabilities of cellular networks, but they do need reliable coverage and low energy consumption, making LoRaWAN an ideal solution.
Helium's decentralized model fits well with the needs of IoT networks, which require vast geographic coverage but minimal data usage. Helium IoT’s hotspots can be deployed by individuals at a relatively low cost, and because these devices consume so little power and data, they are both affordable and efficient to maintain. This allows Helium to offer extensive coverage at a fraction of the cost compared to traditional centralized networks. Helium IoT’s strength lies in its ability to cater to niche use cases that are capital inefficient for large telecom companies but essential for applications like smart cities, environmental monitoring, and logistics.
On the other hand, Helium Mobile represents Helium’s expansion into the more data-intensive world of cellular networks. Whereas Helium IoT is focused on low-bandwidth communication, Helium Mobile is designed to provide full-fledged 4G and 5G mobile connectivity, targeting a much broader consumer base. Helium Mobile operates as a decentralized mobile network, meaning it offers similar services to traditional telecom providers but with the added benefit of decentralization. It introduces an MVNO model, which partners with existing telecom carriers to supplement coverage and ensure users have seamless connectivity.
One of the major differences between Helium IoT and Helium Mobile lies in their respective data demands and infrastructure requirements. While IoT devices typically only send small packets of data sporadically, mobile networks need to handle much larger amounts of data on a continuous basis. Helium Mobile, therefore, needs to integrate more complex infrastructure and support higher-speed connections to meet consumer expectations for smartphone usage, video streaming, and mobile app functionality. As a result, Helium Mobile incorporates traditional telecom infrastructure through partnerships, such as its agreement with T-Mobile, to provide users with a reliable hybrid network.
Another critical distinction is the business model behind each product. Helium IoT operates on a pay-per-usage model, where businesses and individuals pay for the data their devices transmit across the network. This makes it an attractive option for IoT applications that only need to transmit data occasionally and at low cost. In contrast, Helium Mobile offers a more conventional subscription-based model, where consumers pay a fixed monthly fee for unlimited mobile data. The pricing model for Helium Mobile is designed to be significantly cheaper than traditional telecom providers, with plans starting as low as $20 per month, thanks to the cost savings from its decentralized infrastructure.
The strategic direction of Helium as a company is heavily influenced by the different target markets of these two products. Helium IoT is focused on specialized use cases, primarily in industries that require large-scale sensor networks, such as agriculture, logistics, and urban planning. As the IoT market continues to grow, Helium’s decentralized approach positions it to capitalize on the increasing demand for wide coverage at minimal cost. Helium Mobile, by contrast, is aimed at the mass consumer market, providing a low-cost alternative to traditional mobile carriers while leveraging the decentralized model to reduce capital expenditure.
The evolution of Helium from a purely IoT-focused company to one that now includes mobile services reflects the shifting priorities in the telecom industry. IoT alone, while promising, didn’t provide the revenue potential or scale that Helium needed to realize its broader ambitions. By expanding into the mobile telecom sector, Helium is able to leverage its existing infrastructure while targeting a much larger and more lucrative market. The move into mobile also aligns with the growing trend of decentralized networks looking to disrupt industries dominated by a few large players, offering consumers more choice and lower costs.
Ultimately, Helium IoT and Helium Mobile are two sides of the same decentralized network coin, but they serve vastly different markets with varying technical demands.
Together, they represent Helium’s vision of a decentralized wireless future, where the same network infrastructure can support both niche IoT applications and mainstream mobile users. Helium’s ability to pivot and innovate within these two distinct sectors speaks to its broader ambition of redefining how wireless networks are built and operated.
Helium’s Performance To-Date
Helium’s growth since its inception has been nothing short of impressive, with the network seeing rapid expansion in both its IoT and mobile infrastructure deployments. One of the key indicators of Helium’s success is its expanding network of active hotspots, which serve as the backbone of its decentralized wireless infrastructure. As of September 2024, there are over 357,000 active IoT hotspots and 20,622 active mobile hotspots, showcasing the network’s global presence. These hotspots are deployed by individual operators incentivized through Helium's token rewards, allowing the network to grow organically without requiring heavy capital expenditure from a central authority. This decentralized model has allowed Helium to become one of the most widely deployed networks of its kind, covering significant areas in North America, Europe, and Asia.
The data usage statistics provide another metric of Helium’s impressive growth. As of early September 2024, 20.47 terabytes (TB) of data have been offloaded through the network, a significant increase over the past few months. This surge in data usage highlights Helium’s growing adoption, particularly by users of other carriers leveraging Helium’s mobile hotspots for data offload. As part of its beta deployment, Helium now supports 789,846 subscribers from other carriers, underscoring its potential to disrupt traditional mobile telecom markets by providing seamless and cost-effective coverage through its decentralized infrastructure. The continuous rise in offload subscribers is a clear sign of the platform’s scalability and its ability to serve an increasing number of users without sacrificing performance.
One of the more notable metrics is the number of offload hotspots, which currently stands at 762. These hotspots allow subscribers from traditional telecom providers to offload their data onto the Helium network, providing a tangible example of Helium’s hybrid model that complements existing mobile networks. By offering such a solution, Helium not only expands its own network but also reduces congestion and reliance on traditional telecom infrastructure. The ability to provide mobile coverage through decentralized infrastructure while still collaborating with existing telecom carriers is a significant competitive advantage for Helium, offering a glimpse into how decentralized wireless can complement, rather than replace, traditional telecom models.
The Helium network also boasts strong tokenomics that help fuel its continued expansion. For example, Helium's IoT utility score is over 313 billion, and its daily emissions for the IoT network have reached 89 million tokens. The mobile side of Helium’s ecosystem is equally impressive, with a utility score of nearly 983 billion and daily token emissions of 82 million. These figures reflect the growing utility of the network and its ability to incentivize both users and operators to participate in expanding Helium’s infrastructure. The burning of Data Credits (DC), which stood at 9.6 million over the past 24 hours for IoT and 323.8 million for mobile, further demonstrates the network’s significant transaction volume, with both usage and utility growing as more devices and users leverage the Helium ecosystem.
Geographically, Helium has achieved widespread deployment, as evidenced by the global coverage map. Major concentrations of active hotspots are visible across North America, Europe, and parts of Asia, demonstrating the network’s global reach. The extensive coverage in regions like the United States and Western Europe underscores Helium's success in building a decentralized wireless network that can support IoT devices and mobile offloading at scale. The growing number of hotspots across these regions indicates increasing user adoption and network reliability, as more hotspots contribute to strengthening the coverage and reducing gaps in connectivity.
Another key element of Helium's performance to date is its success in bridging the gap between traditional telecom providers and decentralized infrastructure. By enabling offload subscribers from other carriers, Helium not only alleviates pressure on legacy networks but also offers a cost-effective solution for users seeking alternative connectivity options. With 76 offload subscribers per hotspot daily on average, the platform is proving its value in real-world applications. This metric highlights the utility of each individual hotspot in handling data and users, further demonstrating the efficiency of Helium’s decentralized model in providing wireless coverage.
Helium’s hybrid approach—partnering with established telecom companies while deploying its decentralized infrastructure—has allowed the platform to integrate seamlessly with existing mobile networks. This strategy has positioned Helium as a viable complement to traditional wireless carriers, enabling broader coverage and better connectivity for users at lower costs. The success of its offload model, where users from other carriers utilize Helium hotspots, suggests that this approach is working, allowing Helium to scale without facing the immense capital expenditures that traditional telecom companies incur.
With growing partnerships, increasing data usage, and the continued expansion of its network, Helium is well on its way to becoming a major player in the future of decentralized telecommunications.
Helium and its Competitors
While Helium is one of the most prominent projects in this space, it is not without competition.
Other DePIN projects aim to decentralize various types of infrastructure, ranging from wireless connectivity to cloud computing and storage. Helium’s primary distinction lies in its focus on decentralized wireless networks, but comparing it to its peers and traditional telecom companies highlights both its strengths and potential challenges.
One of Helium’s most direct competitors in the decentralized wireless space is Pollen Mobile, a project that also seeks to create a decentralized cellular network by leveraging blockchain technology and user-owned infrastructure. Like Helium, Pollen allows users to deploy their own cell towers, called "flowers," to provide coverage and earn rewards in the form of cryptocurrency. While both projects share similar goals, Helium’s advantage lies in its established infrastructure and larger network. Helium already boasts over a million hotspots worldwide, providing IoT coverage and expanding into cellular through its Helium Mobile initiative. Pollen, on the other hand, is still in its early stages and has a much smaller footprint. This gives Helium a first-mover advantage, allowing it to attract more users and build partnerships with major telecom providers like T-Mobile.
Another emerging DePIN competitor is XNET, which focuses on creating decentralized broadband networks by enabling users to share their Wi-Fi and internet connections. Similar to Helium, XNET rewards participants with tokens, but it targets residential broadband rather than cellular or IoT connectivity. While the concept is promising, XNET faces significant challenges in scaling its network to the same level as Helium. Wi-Fi networks are inherently limited in range compared to the long-distance coverage offered by Helium’s LoRaWAN-enabled IoT network and its expanding cellular capabilities. Additionally, Helium’s ability to partner with existing telecom carriers gives it a hybrid advantage, whereas XNET’s reliance on residential broadband limits its reach and scalability.
Helium also indirectly competes with decentralized storage networks like Filecoin and Arweave, though these projects focus on decentralizing data storage rather than wireless connectivity. However, all of these projects share the common goal of decentralizing traditional infrastructure and reducing reliance on centralized entities. In this broader context, Helium’s approach stands out due to its dual focus on IoT and cellular networks, both of which are critical components of the global telecom industry. By addressing multiple verticals within decentralized infrastructure, Helium positions itself as a more versatile and potentially disruptive force.
When compared to traditional telecom companies such as Verizon, AT&T, and Telefonica, Helium’s advantages become even clearer. The primary benefit of Helium’s decentralized model is its ability to drastically reduce capital expenditures. Building and maintaining cellular towers, fiber backhaul, and core networks is an expensive endeavor, costing traditional telecom companies billions of dollars annually. Helium, on the other hand, offloads much of this cost to its network of hotspot operators, who purchase and maintain the infrastructure in exchange for HNT. This decentralized ownership model allows Helium to scale its network more efficiently and at a fraction of the cost faced by legacy telecom providers.
Helium’s token-based incentive structure addresses one of the biggest challenges in traditional telecom: network expansion in underserved areas. Rural and remote regions are often neglected by large telecom companies due to the high cost of infrastructure and the low return on investment. Helium’s decentralized approach solves this problem by allowing individual operators to deploy hotspots wherever they see fit, incentivizing coverage in areas that might otherwise be ignored. This democratization of infrastructure deployment means that Helium can achieve broader coverage without the financial burdens that plague traditional telecom companies.
Helium also benefits from a more flexible and adaptive network model. Traditional telecom providers operate rigid infrastructure that requires costly and time-consuming upgrades to support new technologies like 5G. In contrast, Helium’s network is inherently modular. Individual hotspot operators can upgrade their devices independently, allowing the network to scale and evolve more organically. This flexibility not only reduces maintenance costs but also accelerates the rollout of new technologies, giving Helium a competitive edge in staying at the forefront of wireless innovation.
Additionally, Helium’s pricing model gives it a significant advantage over traditional telecom companies. With Helium Mobile offering plans as low as $20 per month for unlimited data, it is positioned as a low-cost alternative to the $60-90 monthly plans offered by incumbents like Verizon and AT&T. This competitive pricing is made possible by the decentralized nature of Helium’s infrastructure, which lowers operating costs and allows the company to pass on savings to consumers. For many users, especially those in price-sensitive markets, Helium’s affordable plans could be a compelling reason to switch from legacy providers.
The hybrid approach that Helium uses—partnering with established carriers like T-Mobile while expanding its decentralized network—also provides a key advantage. Helium is not trying to completely replace traditional telecom infrastructure but rather augment it, particularly in areas where coverage is spotty or expensive to maintain. This allows Helium to offer seamless service to its users while gradually expanding its own network. This strategy minimizes the risks associated with relying solely on decentralized infrastructure, while still delivering the cost benefits and flexibility that come with it.
In the long run, one of the most significant challenges Helium faces is scaling its network to a point where it can directly compete with the global reach and reliability of traditional telecom giants. While Helium’s decentralized approach offers many advantages, it will need to continuously grow its network of hotspots and secure more partnerships with major carriers to ensure consistent, high-quality coverage. However, its early success, particularly in the IoT space, suggests that Helium has the potential to achieve this scale.
The competition between Helium and traditional telecom companies is a David and Goliath story, with Helium representing the lean, innovative newcomer and legacy telecoms as the entrenched incumbents. However, Helium’s unique combination of decentralized infrastructure, token incentives, and partnerships with existing carriers positions it as a formidable challenger. As the demand for wireless connectivity continues to grow, particularly with the rollout of 5G and the expansion of IoT, Helium’s decentralized model could prove to be a more efficient and scalable solution for the future of telecom.
By reducing infrastructure costs, enabling flexible network expansion, and providing competitive pricing, Helium has the potential to disrupt the telecom industry in ways that few others can. Its dual focus on IoT and mobile networks gives it a unique market position, and as the DePIN sector grows, Helium’s first-mover advantage and established partnerships will likely keep it at the forefront of decentralized wireless innovation.
The Helium Ecosystem
The Helium ecosystem is a rapidly expanding network of projects and partners that leverage Helium’s decentralized wireless infrastructure to power various applications. These projects span multiple industries, including IoT, telecom, smart cities, and more, each uniquely benefiting from the low-cost, wide-area coverage that Helium’s decentralized network provides. The diversity and innovation within the ecosystem showcase the versatility of Helium’s network and highlight its potential to disrupt traditional business models across various sectors. Here, we will explore a few key projects within the Helium ecosystem and how they are empowered by Helium’s infrastructure.
One of the most prominent projects within the Helium ecosystem is Actility, a leading provider of IoT connectivity solutions. Actility has integrated with Helium’s decentralized network to offer its clients reliable and cost-effective IoT connectivity, especially for use cases that require wide-area coverage and long-range communication. Actility’s solution, powered by Helium’s LoRaWAN network, enables industries such as agriculture, logistics, and energy to deploy IoT devices at scale without the high costs typically associated with traditional telecom infrastructure. Helium’s decentralized model allows Actility to provide seamless, scalable IoT services to customers across regions, particularly in areas where traditional networks may be less accessible or prohibitively expensive.
Another standout project is Invoxia, which focuses on asset tracking for various industries, including supply chain management, logistics, and personal safety. By using Helium’s network, Invoxia can provide real-time tracking capabilities for a fraction of the cost of traditional GPS systems. Helium’s low-power, long-range coverage is ideal for Invoxia’s use case, where devices need to be tracked across wide areas, often in remote or rural locations. The decentralized nature of Helium’s network enables continuous coverage without the need for costly infrastructure investments, making it a perfect fit for asset tracking solutions that require widespread, reliable connectivity at minimal cost.
Lacuna Space is another innovative player within the Helium ecosystem. This project leverages Helium’s infrastructure to enable global IoT connectivity using low-earth orbit (LEO) satellites. Lacuna’s mission is to provide connectivity for IoT devices in the most remote and inaccessible areas of the world, such as deserts, oceans, and mountainous regions. By combining Helium’s terrestrial LoRaWAN network with satellite coverage, Lacuna Space can offer truly global connectivity solutions. This hybrid model showcases the flexibility of Helium’s network and how it can be extended beyond traditional boundaries to support emerging technologies like satellite-enabled IoT, which is critical for industries such as maritime, wildlife tracking, and environmental monitoring.
One of the more consumer-facing projects within the ecosystem is Nebra, a manufacturer of affordable Helium-compatible hotspots. Nebra’s goal is to lower the barrier to entry for individuals and businesses that want to participate in the Helium network by making it easier and more cost-effective to deploy hotspots. By providing affordable hardware that works seamlessly with Helium’s infrastructure, Nebra plays a critical role in expanding the Helium network. More hotspots mean more coverage, which in turn enhances the network’s utility for IoT devices and mobile users alike. Nebra’s contribution to the ecosystem exemplifies how Helium’s decentralized model allows a wide range of participants—from individuals to enterprises—to contribute to and benefit from network growth.
The broader Helium ecosystem operates as a highly collaborative environment where different projects build on each other to create a decentralized wireless infrastructure that is greater than the sum of its parts. Helium’s unique advantage is its ability to enable projects to deploy wide-area, low-cost connectivity without needing to invest heavily in traditional telecom infrastructure. This allows projects to focus on their core offerings—whether it’s asset tracking, IoT connectivity, or consumer hardware—while relying on Helium’s decentralized network to handle the communication backbone.
The ecosystem is also dynamic in how it fosters innovation. Projects within the ecosystem aren’t just users of Helium’s network; they also contribute to its expansion. For example, projects like Nebra not only deploy hardware but also encourage others to join the network, creating a virtuous cycle of network growth and utility. Similarly, companies like Actility and Lacuna Space, by using Helium’s network to power IoT and satellite connectivity, provide real-world use cases that demonstrate the network’s scalability and reliability, which attracts more participants to the ecosystem.
What’s especially compelling about the Helium ecosystem is how it aligns incentives for all participants. Hotspot operators are rewarded with HNT for providing coverage, which incentivizes network expansion. At the same time, projects using the network benefit from the low-cost, decentralized infrastructure, which allows them to offer more competitive services to their customers. This symbiotic relationship between network users and contributors is a key strength of the ecosystem, ensuring that growth benefits all stakeholders.
The ecosystem’s reliance on open standards like LoRaWAN ensures that it remains accessible to a broad range of industries and applications. The use of open protocols means that Helium’s network can easily integrate with existing systems and technologies, making it more versatile and attractive to enterprises looking to deploy IoT solutions. This openness also allows for greater innovation, as new projects can quickly plug into the Helium network and begin offering services without needing to reinvent the wheel.
Future Outlook for Helium
The future of Helium looks both promising and ambitious as it continues to scale its decentralized wireless infrastructure and expand its market reach. With its innovative DePIN model, Helium has laid the foundation for a new kind of connectivity, one that is user-owned, affordable, and decentralized. As the telecommunications landscape evolves, Helium’s potential to disrupt both the IoT and mobile markets grows more evident, especially as it leverages blockchain technology and token incentives to drive network expansion and adoption.
One of the most exciting prospects for Helium is its expansion into the mobile telecommunications space. With the ongoing global rollout of 5G, there is a clear demand for more robust and affordable connectivity options. Helium’s decentralized model not only reduces infrastructure costs but also allows for more agile expansion. By partnering with major carriers like T-Mobile and using this hybrid MVNO approach, Helium Mobile has the potential to scale rapidly while still providing users with reliable coverage. As more users adopt Helium’s mobile service, the network will continue to grow, creating a positive feedback loop where increased demand drives further expansion of hotspots and coverage.
Looking ahead, Helium’s future will likely be defined by its ability to deepen partnerships with traditional telecom carriers while simultaneously growing its decentralized network. Collaborations with established players like Telefonica already signal that telecom companies are recognizing the benefits of decentralized models, particularly when it comes to lowering operational costs and expanding coverage in underserved areas. These partnerships will be crucial for Helium to gain increased market credibility and attract more users, allowing it to compete with larger, traditional telecom providers on a global scale.
The continued evolution of Helium’s tokenomics will also play a critical role in shaping the project’s future. As the Helium ecosystem grows, the value of its native token, HNT, will be influenced by demand for network services like IoT data transmission and mobile offload. Tokenomics will need to adapt to ensure a balanced incentive structure for both hotspot operators and network users. If done correctly, Helium could create a sustainable economic model where token rewards drive continued network expansion, ensuring that the infrastructure grows in tandem with user demand. This balancing act will be vital to maintaining the long-term health of the network and its token economy.
In the IoT space, Helium’s outlook is equally bright. The global IoT market is expected to grow significantly in the coming years, with industries such as agriculture, logistics, smart cities, and healthcare driving demand for low-cost, wide-area networks. Helium’s LoRaWAN-based IoT network is well-positioned to capture a significant share of this market, especially in applications that require long-range, low-power connectivity. As more companies and municipalities adopt IoT solutions, Helium’s decentralized network offers a compelling alternative to traditional, more expensive infrastructure.
Another area where Helium’s future growth could be significant is in the global push toward smart cities. Cities around the world are increasingly looking to adopt IoT technologies to improve services like waste management, energy consumption, traffic monitoring, and public safety. Helium’s decentralized infrastructure, which allows for the deployment of affordable, user-operated hotspots, could make it easier and more cost-effective for cities to implement these technologies. The potential for widespread adoption of Helium in smart city projects represents a huge opportunity for the network to expand its coverage and utility in urban environments.
Of course, Helium’s growth won’t be without challenges. The project faces the ongoing task of scaling its infrastructure while maintaining network reliability. As the number of hotspots and mobile users increases, Helium will need to invest in optimizing its network to ensure that it can handle the growing traffic load without sacrificing quality. Additionally, regulatory hurdles could emerge as Helium’s decentralized model becomes more prominent, especially as governments and telecom regulators assess the implications of decentralized wireless networks.
Despite these challenges, the future of Helium looks promising due to its pioneering role in the DePIN space. As more industries, consumers, and telecom companies recognize the benefits of decentralized infrastructure, Helium stands to be a key player in this transformation. The project’s innovative approach to solving long-standing telecom issues—such as high infrastructure costs, limited rural coverage, and expensive mobile plans—positions it to capture a significant portion of the market.
In the long term, Helium’s vision of creating a fully decentralized global wireless network could fundamentally reshape the way we think about telecommunications. If successful, Helium’s model could inspire a new wave of decentralized networks across other industries, from cloud computing to energy grids. The implications of such a shift would be profound, leading to greater democratization of essential infrastructure and empowering individuals to take a more active role in building and maintaining the networks they use.
Ultimately, Helium’s future depends on its ability to continue innovating and expanding its reach. With strong partnerships, a growing user base, and a scalable decentralized model, Helium is well-positioned to lead the DePIN movement and challenge traditional telecom giants. The next few years will be critical as Helium seeks to capitalize on the growing demand for affordable, decentralized connectivity, setting the stage for a new era of wireless communication.
Disclaimer: This research report is exactly that — a research report. It is not intended to serve as financial advice, nor should you blindly assume that any of the information is accurate without confirming through your own research. Bitcoin, cryptocurrencies, and other digital assets are incredibly risky and nothing in this report should be considered an endorsement to buy or sell any asset. Never invest more than you are willing to lose and understand the risk that you are taking. Do your own research. All information in this report is for educational purposes only and should not be the basis for any investment decisions that you make.
What is Helium?
Helium is a decentralized wireless network that wants to redefine how we think about mobile connectivity, IoT (Internet of Things) infrastructure, and crypto’s role in traditional industry. Founded in 2013, Helium was initially envisioned as a solution to the growing demand for low-cost, decentralized IoT infrastructure.
Over time, Helium expanded its focus, now aiming to disrupt the broader telecommunications industry by offering a decentralized alternative to traditional cellular networks with the Helium Mobile initiative. Through its innovative approach to the buildout of physical infrastructure, Helium has created a network powered by individual users, leveraging blockchain technology and token incentives to encourage the deployment of wireless hotspots. As of writing this, Helium is one of the more well known and category definers of the DePIN (decentralized physical infrastructure networks) sector of crypto.
The idea behind DePIN is that instead of relying on centralized entities like traditional telecom providers (in Helium’s example) to build and maintain network infrastructure, Helium distributes that responsibility to a community of hotspot operators. These individuals install affordable Helium-approved hotspots, which serve as nodes within the network, providing coverage for IoT devices and mobile users. In return for their participation, hotspot operators are rewarded with Helium tokens (HNT), creating a mutually beneficial ecosystem where users and the network both thrive.
Originally, Helium's focus was on IoT devices, and it built out a network to support low-power, low-bandwidth communication via the LoRaWAN protocol. This allowed for applications such as environmental monitoring, asset tracking, and smart city infrastructure, which require reliable but low-data-rate communication. But as the IoT market matured and its limitations became more apparent, Helium shifted gears to address the much larger and more lucrative mobile telecom space. This move gave birth to Helium Mobile, a decentralized cellular network that operates alongside traditional carriers (like T-Mobile or Telefonica), offering competitive pricing and expanding coverage by using its decentralized model.
The introduction of Helium Mobile marked a significant step forward for Helium. Through a mobile virtual network operator (MVNO) approach, Helium partners with existing telecom companies like T-Mobile to offer users seamless cellular service while also routing some traffic through Helium’s decentralized network. This hybrid model allows Helium to provide coverage in areas underserved by traditional networks while reducing costs by offloading some of the infrastructure to its network of hotspots.
One of Helium’s most appealing advantages comes from its cost structure. Traditional telecom companies invest billions of dollars in building and maintaining cellular towers, fiber backhaul, and other infrastructure. In contrast, Helium’s decentralized model dramatically reduces these capital expenditures. By incentivizing individuals to install and manage the infrastructure, Helium can offer services like its $20/month unlimited data plan, a stark contrast to the $60-90 per month typically charged by incumbents like Verizon and AT&T.
As of today, Helium boasts over a million active hotspots globally and a growing subscriber base for Helium Mobile. This success showcases the potential for decentralized networks to complement or even challenge traditional infrastructure-heavy telecom models. Helium’s ongoing efforts to partner with global carriers like Telefonica further demonstrate its ambition to integrate with the existing telecom ecosystem while offering an alternative model for the future of wireless connectivity.
Exploring Helium’s Products
Helium’s product ecosystem revolves around two core offerings: Helium IoT and Helium Mobile.
Both services leverage Helium’s decentralized infrastructure model, but they cater to distinct markets with different technical requirements and use cases. Understanding the differences between these two products is key to grasping Helium’s broader strategy of expanding decentralized wireless connectivity and disrupting traditional telecom sectors.
Helium IoT, as the name suggests, focuses on providing connectivity for IoT devices. This service operates using the LoRaWAN protocol, a low-power, wide-area network technology designed to connect devices that need to transmit small amounts of data over long distances. Typical IoT applications include environmental sensors, smart meters, asset tracking, and other low-bandwidth, high-frequency use cases. These devices don't require the high speeds or extensive data capabilities of cellular networks, but they do need reliable coverage and low energy consumption, making LoRaWAN an ideal solution.
Helium's decentralized model fits well with the needs of IoT networks, which require vast geographic coverage but minimal data usage. Helium IoT’s hotspots can be deployed by individuals at a relatively low cost, and because these devices consume so little power and data, they are both affordable and efficient to maintain. This allows Helium to offer extensive coverage at a fraction of the cost compared to traditional centralized networks. Helium IoT’s strength lies in its ability to cater to niche use cases that are capital inefficient for large telecom companies but essential for applications like smart cities, environmental monitoring, and logistics.
On the other hand, Helium Mobile represents Helium’s expansion into the more data-intensive world of cellular networks. Whereas Helium IoT is focused on low-bandwidth communication, Helium Mobile is designed to provide full-fledged 4G and 5G mobile connectivity, targeting a much broader consumer base. Helium Mobile operates as a decentralized mobile network, meaning it offers similar services to traditional telecom providers but with the added benefit of decentralization. It introduces an MVNO model, which partners with existing telecom carriers to supplement coverage and ensure users have seamless connectivity.
One of the major differences between Helium IoT and Helium Mobile lies in their respective data demands and infrastructure requirements. While IoT devices typically only send small packets of data sporadically, mobile networks need to handle much larger amounts of data on a continuous basis. Helium Mobile, therefore, needs to integrate more complex infrastructure and support higher-speed connections to meet consumer expectations for smartphone usage, video streaming, and mobile app functionality. As a result, Helium Mobile incorporates traditional telecom infrastructure through partnerships, such as its agreement with T-Mobile, to provide users with a reliable hybrid network.
Another critical distinction is the business model behind each product. Helium IoT operates on a pay-per-usage model, where businesses and individuals pay for the data their devices transmit across the network. This makes it an attractive option for IoT applications that only need to transmit data occasionally and at low cost. In contrast, Helium Mobile offers a more conventional subscription-based model, where consumers pay a fixed monthly fee for unlimited mobile data. The pricing model for Helium Mobile is designed to be significantly cheaper than traditional telecom providers, with plans starting as low as $20 per month, thanks to the cost savings from its decentralized infrastructure.
The strategic direction of Helium as a company is heavily influenced by the different target markets of these two products. Helium IoT is focused on specialized use cases, primarily in industries that require large-scale sensor networks, such as agriculture, logistics, and urban planning. As the IoT market continues to grow, Helium’s decentralized approach positions it to capitalize on the increasing demand for wide coverage at minimal cost. Helium Mobile, by contrast, is aimed at the mass consumer market, providing a low-cost alternative to traditional mobile carriers while leveraging the decentralized model to reduce capital expenditure.
The evolution of Helium from a purely IoT-focused company to one that now includes mobile services reflects the shifting priorities in the telecom industry. IoT alone, while promising, didn’t provide the revenue potential or scale that Helium needed to realize its broader ambitions. By expanding into the mobile telecom sector, Helium is able to leverage its existing infrastructure while targeting a much larger and more lucrative market. The move into mobile also aligns with the growing trend of decentralized networks looking to disrupt industries dominated by a few large players, offering consumers more choice and lower costs.
Ultimately, Helium IoT and Helium Mobile are two sides of the same decentralized network coin, but they serve vastly different markets with varying technical demands.
Together, they represent Helium’s vision of a decentralized wireless future, where the same network infrastructure can support both niche IoT applications and mainstream mobile users. Helium’s ability to pivot and innovate within these two distinct sectors speaks to its broader ambition of redefining how wireless networks are built and operated.
Helium’s Performance To-Date
Helium’s growth since its inception has been nothing short of impressive, with the network seeing rapid expansion in both its IoT and mobile infrastructure deployments. One of the key indicators of Helium’s success is its expanding network of active hotspots, which serve as the backbone of its decentralized wireless infrastructure. As of September 2024, there are over 357,000 active IoT hotspots and 20,622 active mobile hotspots, showcasing the network’s global presence. These hotspots are deployed by individual operators incentivized through Helium's token rewards, allowing the network to grow organically without requiring heavy capital expenditure from a central authority. This decentralized model has allowed Helium to become one of the most widely deployed networks of its kind, covering significant areas in North America, Europe, and Asia.
The data usage statistics provide another metric of Helium’s impressive growth. As of early September 2024, 20.47 terabytes (TB) of data have been offloaded through the network, a significant increase over the past few months. This surge in data usage highlights Helium’s growing adoption, particularly by users of other carriers leveraging Helium’s mobile hotspots for data offload. As part of its beta deployment, Helium now supports 789,846 subscribers from other carriers, underscoring its potential to disrupt traditional mobile telecom markets by providing seamless and cost-effective coverage through its decentralized infrastructure. The continuous rise in offload subscribers is a clear sign of the platform’s scalability and its ability to serve an increasing number of users without sacrificing performance.
One of the more notable metrics is the number of offload hotspots, which currently stands at 762. These hotspots allow subscribers from traditional telecom providers to offload their data onto the Helium network, providing a tangible example of Helium’s hybrid model that complements existing mobile networks. By offering such a solution, Helium not only expands its own network but also reduces congestion and reliance on traditional telecom infrastructure. The ability to provide mobile coverage through decentralized infrastructure while still collaborating with existing telecom carriers is a significant competitive advantage for Helium, offering a glimpse into how decentralized wireless can complement, rather than replace, traditional telecom models.
The Helium network also boasts strong tokenomics that help fuel its continued expansion. For example, Helium's IoT utility score is over 313 billion, and its daily emissions for the IoT network have reached 89 million tokens. The mobile side of Helium’s ecosystem is equally impressive, with a utility score of nearly 983 billion and daily token emissions of 82 million. These figures reflect the growing utility of the network and its ability to incentivize both users and operators to participate in expanding Helium’s infrastructure. The burning of Data Credits (DC), which stood at 9.6 million over the past 24 hours for IoT and 323.8 million for mobile, further demonstrates the network’s significant transaction volume, with both usage and utility growing as more devices and users leverage the Helium ecosystem.
Geographically, Helium has achieved widespread deployment, as evidenced by the global coverage map. Major concentrations of active hotspots are visible across North America, Europe, and parts of Asia, demonstrating the network’s global reach. The extensive coverage in regions like the United States and Western Europe underscores Helium's success in building a decentralized wireless network that can support IoT devices and mobile offloading at scale. The growing number of hotspots across these regions indicates increasing user adoption and network reliability, as more hotspots contribute to strengthening the coverage and reducing gaps in connectivity.
Another key element of Helium's performance to date is its success in bridging the gap between traditional telecom providers and decentralized infrastructure. By enabling offload subscribers from other carriers, Helium not only alleviates pressure on legacy networks but also offers a cost-effective solution for users seeking alternative connectivity options. With 76 offload subscribers per hotspot daily on average, the platform is proving its value in real-world applications. This metric highlights the utility of each individual hotspot in handling data and users, further demonstrating the efficiency of Helium’s decentralized model in providing wireless coverage.
Helium’s hybrid approach—partnering with established telecom companies while deploying its decentralized infrastructure—has allowed the platform to integrate seamlessly with existing mobile networks. This strategy has positioned Helium as a viable complement to traditional wireless carriers, enabling broader coverage and better connectivity for users at lower costs. The success of its offload model, where users from other carriers utilize Helium hotspots, suggests that this approach is working, allowing Helium to scale without facing the immense capital expenditures that traditional telecom companies incur.
With growing partnerships, increasing data usage, and the continued expansion of its network, Helium is well on its way to becoming a major player in the future of decentralized telecommunications.
Helium and its Competitors
While Helium is one of the most prominent projects in this space, it is not without competition.
Other DePIN projects aim to decentralize various types of infrastructure, ranging from wireless connectivity to cloud computing and storage. Helium’s primary distinction lies in its focus on decentralized wireless networks, but comparing it to its peers and traditional telecom companies highlights both its strengths and potential challenges.
One of Helium’s most direct competitors in the decentralized wireless space is Pollen Mobile, a project that also seeks to create a decentralized cellular network by leveraging blockchain technology and user-owned infrastructure. Like Helium, Pollen allows users to deploy their own cell towers, called "flowers," to provide coverage and earn rewards in the form of cryptocurrency. While both projects share similar goals, Helium’s advantage lies in its established infrastructure and larger network. Helium already boasts over a million hotspots worldwide, providing IoT coverage and expanding into cellular through its Helium Mobile initiative. Pollen, on the other hand, is still in its early stages and has a much smaller footprint. This gives Helium a first-mover advantage, allowing it to attract more users and build partnerships with major telecom providers like T-Mobile.
Another emerging DePIN competitor is XNET, which focuses on creating decentralized broadband networks by enabling users to share their Wi-Fi and internet connections. Similar to Helium, XNET rewards participants with tokens, but it targets residential broadband rather than cellular or IoT connectivity. While the concept is promising, XNET faces significant challenges in scaling its network to the same level as Helium. Wi-Fi networks are inherently limited in range compared to the long-distance coverage offered by Helium’s LoRaWAN-enabled IoT network and its expanding cellular capabilities. Additionally, Helium’s ability to partner with existing telecom carriers gives it a hybrid advantage, whereas XNET’s reliance on residential broadband limits its reach and scalability.
Helium also indirectly competes with decentralized storage networks like Filecoin and Arweave, though these projects focus on decentralizing data storage rather than wireless connectivity. However, all of these projects share the common goal of decentralizing traditional infrastructure and reducing reliance on centralized entities. In this broader context, Helium’s approach stands out due to its dual focus on IoT and cellular networks, both of which are critical components of the global telecom industry. By addressing multiple verticals within decentralized infrastructure, Helium positions itself as a more versatile and potentially disruptive force.
When compared to traditional telecom companies such as Verizon, AT&T, and Telefonica, Helium’s advantages become even clearer. The primary benefit of Helium’s decentralized model is its ability to drastically reduce capital expenditures. Building and maintaining cellular towers, fiber backhaul, and core networks is an expensive endeavor, costing traditional telecom companies billions of dollars annually. Helium, on the other hand, offloads much of this cost to its network of hotspot operators, who purchase and maintain the infrastructure in exchange for HNT. This decentralized ownership model allows Helium to scale its network more efficiently and at a fraction of the cost faced by legacy telecom providers.
Helium’s token-based incentive structure addresses one of the biggest challenges in traditional telecom: network expansion in underserved areas. Rural and remote regions are often neglected by large telecom companies due to the high cost of infrastructure and the low return on investment. Helium’s decentralized approach solves this problem by allowing individual operators to deploy hotspots wherever they see fit, incentivizing coverage in areas that might otherwise be ignored. This democratization of infrastructure deployment means that Helium can achieve broader coverage without the financial burdens that plague traditional telecom companies.
Helium also benefits from a more flexible and adaptive network model. Traditional telecom providers operate rigid infrastructure that requires costly and time-consuming upgrades to support new technologies like 5G. In contrast, Helium’s network is inherently modular. Individual hotspot operators can upgrade their devices independently, allowing the network to scale and evolve more organically. This flexibility not only reduces maintenance costs but also accelerates the rollout of new technologies, giving Helium a competitive edge in staying at the forefront of wireless innovation.
Additionally, Helium’s pricing model gives it a significant advantage over traditional telecom companies. With Helium Mobile offering plans as low as $20 per month for unlimited data, it is positioned as a low-cost alternative to the $60-90 monthly plans offered by incumbents like Verizon and AT&T. This competitive pricing is made possible by the decentralized nature of Helium’s infrastructure, which lowers operating costs and allows the company to pass on savings to consumers. For many users, especially those in price-sensitive markets, Helium’s affordable plans could be a compelling reason to switch from legacy providers.
The hybrid approach that Helium uses—partnering with established carriers like T-Mobile while expanding its decentralized network—also provides a key advantage. Helium is not trying to completely replace traditional telecom infrastructure but rather augment it, particularly in areas where coverage is spotty or expensive to maintain. This allows Helium to offer seamless service to its users while gradually expanding its own network. This strategy minimizes the risks associated with relying solely on decentralized infrastructure, while still delivering the cost benefits and flexibility that come with it.
In the long run, one of the most significant challenges Helium faces is scaling its network to a point where it can directly compete with the global reach and reliability of traditional telecom giants. While Helium’s decentralized approach offers many advantages, it will need to continuously grow its network of hotspots and secure more partnerships with major carriers to ensure consistent, high-quality coverage. However, its early success, particularly in the IoT space, suggests that Helium has the potential to achieve this scale.
The competition between Helium and traditional telecom companies is a David and Goliath story, with Helium representing the lean, innovative newcomer and legacy telecoms as the entrenched incumbents. However, Helium’s unique combination of decentralized infrastructure, token incentives, and partnerships with existing carriers positions it as a formidable challenger. As the demand for wireless connectivity continues to grow, particularly with the rollout of 5G and the expansion of IoT, Helium’s decentralized model could prove to be a more efficient and scalable solution for the future of telecom.
By reducing infrastructure costs, enabling flexible network expansion, and providing competitive pricing, Helium has the potential to disrupt the telecom industry in ways that few others can. Its dual focus on IoT and mobile networks gives it a unique market position, and as the DePIN sector grows, Helium’s first-mover advantage and established partnerships will likely keep it at the forefront of decentralized wireless innovation.
The Helium Ecosystem
The Helium ecosystem is a rapidly expanding network of projects and partners that leverage Helium’s decentralized wireless infrastructure to power various applications. These projects span multiple industries, including IoT, telecom, smart cities, and more, each uniquely benefiting from the low-cost, wide-area coverage that Helium’s decentralized network provides. The diversity and innovation within the ecosystem showcase the versatility of Helium’s network and highlight its potential to disrupt traditional business models across various sectors. Here, we will explore a few key projects within the Helium ecosystem and how they are empowered by Helium’s infrastructure.
One of the most prominent projects within the Helium ecosystem is Actility, a leading provider of IoT connectivity solutions. Actility has integrated with Helium’s decentralized network to offer its clients reliable and cost-effective IoT connectivity, especially for use cases that require wide-area coverage and long-range communication. Actility’s solution, powered by Helium’s LoRaWAN network, enables industries such as agriculture, logistics, and energy to deploy IoT devices at scale without the high costs typically associated with traditional telecom infrastructure. Helium’s decentralized model allows Actility to provide seamless, scalable IoT services to customers across regions, particularly in areas where traditional networks may be less accessible or prohibitively expensive.
Another standout project is Invoxia, which focuses on asset tracking for various industries, including supply chain management, logistics, and personal safety. By using Helium’s network, Invoxia can provide real-time tracking capabilities for a fraction of the cost of traditional GPS systems. Helium’s low-power, long-range coverage is ideal for Invoxia’s use case, where devices need to be tracked across wide areas, often in remote or rural locations. The decentralized nature of Helium’s network enables continuous coverage without the need for costly infrastructure investments, making it a perfect fit for asset tracking solutions that require widespread, reliable connectivity at minimal cost.
Lacuna Space is another innovative player within the Helium ecosystem. This project leverages Helium’s infrastructure to enable global IoT connectivity using low-earth orbit (LEO) satellites. Lacuna’s mission is to provide connectivity for IoT devices in the most remote and inaccessible areas of the world, such as deserts, oceans, and mountainous regions. By combining Helium’s terrestrial LoRaWAN network with satellite coverage, Lacuna Space can offer truly global connectivity solutions. This hybrid model showcases the flexibility of Helium’s network and how it can be extended beyond traditional boundaries to support emerging technologies like satellite-enabled IoT, which is critical for industries such as maritime, wildlife tracking, and environmental monitoring.
One of the more consumer-facing projects within the ecosystem is Nebra, a manufacturer of affordable Helium-compatible hotspots. Nebra’s goal is to lower the barrier to entry for individuals and businesses that want to participate in the Helium network by making it easier and more cost-effective to deploy hotspots. By providing affordable hardware that works seamlessly with Helium’s infrastructure, Nebra plays a critical role in expanding the Helium network. More hotspots mean more coverage, which in turn enhances the network’s utility for IoT devices and mobile users alike. Nebra’s contribution to the ecosystem exemplifies how Helium’s decentralized model allows a wide range of participants—from individuals to enterprises—to contribute to and benefit from network growth.
The broader Helium ecosystem operates as a highly collaborative environment where different projects build on each other to create a decentralized wireless infrastructure that is greater than the sum of its parts. Helium’s unique advantage is its ability to enable projects to deploy wide-area, low-cost connectivity without needing to invest heavily in traditional telecom infrastructure. This allows projects to focus on their core offerings—whether it’s asset tracking, IoT connectivity, or consumer hardware—while relying on Helium’s decentralized network to handle the communication backbone.
The ecosystem is also dynamic in how it fosters innovation. Projects within the ecosystem aren’t just users of Helium’s network; they also contribute to its expansion. For example, projects like Nebra not only deploy hardware but also encourage others to join the network, creating a virtuous cycle of network growth and utility. Similarly, companies like Actility and Lacuna Space, by using Helium’s network to power IoT and satellite connectivity, provide real-world use cases that demonstrate the network’s scalability and reliability, which attracts more participants to the ecosystem.
What’s especially compelling about the Helium ecosystem is how it aligns incentives for all participants. Hotspot operators are rewarded with HNT for providing coverage, which incentivizes network expansion. At the same time, projects using the network benefit from the low-cost, decentralized infrastructure, which allows them to offer more competitive services to their customers. This symbiotic relationship between network users and contributors is a key strength of the ecosystem, ensuring that growth benefits all stakeholders.
The ecosystem’s reliance on open standards like LoRaWAN ensures that it remains accessible to a broad range of industries and applications. The use of open protocols means that Helium’s network can easily integrate with existing systems and technologies, making it more versatile and attractive to enterprises looking to deploy IoT solutions. This openness also allows for greater innovation, as new projects can quickly plug into the Helium network and begin offering services without needing to reinvent the wheel.
Future Outlook for Helium
The future of Helium looks both promising and ambitious as it continues to scale its decentralized wireless infrastructure and expand its market reach. With its innovative DePIN model, Helium has laid the foundation for a new kind of connectivity, one that is user-owned, affordable, and decentralized. As the telecommunications landscape evolves, Helium’s potential to disrupt both the IoT and mobile markets grows more evident, especially as it leverages blockchain technology and token incentives to drive network expansion and adoption.
One of the most exciting prospects for Helium is its expansion into the mobile telecommunications space. With the ongoing global rollout of 5G, there is a clear demand for more robust and affordable connectivity options. Helium’s decentralized model not only reduces infrastructure costs but also allows for more agile expansion. By partnering with major carriers like T-Mobile and using this hybrid MVNO approach, Helium Mobile has the potential to scale rapidly while still providing users with reliable coverage. As more users adopt Helium’s mobile service, the network will continue to grow, creating a positive feedback loop where increased demand drives further expansion of hotspots and coverage.
Looking ahead, Helium’s future will likely be defined by its ability to deepen partnerships with traditional telecom carriers while simultaneously growing its decentralized network. Collaborations with established players like Telefonica already signal that telecom companies are recognizing the benefits of decentralized models, particularly when it comes to lowering operational costs and expanding coverage in underserved areas. These partnerships will be crucial for Helium to gain increased market credibility and attract more users, allowing it to compete with larger, traditional telecom providers on a global scale.
The continued evolution of Helium’s tokenomics will also play a critical role in shaping the project’s future. As the Helium ecosystem grows, the value of its native token, HNT, will be influenced by demand for network services like IoT data transmission and mobile offload. Tokenomics will need to adapt to ensure a balanced incentive structure for both hotspot operators and network users. If done correctly, Helium could create a sustainable economic model where token rewards drive continued network expansion, ensuring that the infrastructure grows in tandem with user demand. This balancing act will be vital to maintaining the long-term health of the network and its token economy.
In the IoT space, Helium’s outlook is equally bright. The global IoT market is expected to grow significantly in the coming years, with industries such as agriculture, logistics, smart cities, and healthcare driving demand for low-cost, wide-area networks. Helium’s LoRaWAN-based IoT network is well-positioned to capture a significant share of this market, especially in applications that require long-range, low-power connectivity. As more companies and municipalities adopt IoT solutions, Helium’s decentralized network offers a compelling alternative to traditional, more expensive infrastructure.
Another area where Helium’s future growth could be significant is in the global push toward smart cities. Cities around the world are increasingly looking to adopt IoT technologies to improve services like waste management, energy consumption, traffic monitoring, and public safety. Helium’s decentralized infrastructure, which allows for the deployment of affordable, user-operated hotspots, could make it easier and more cost-effective for cities to implement these technologies. The potential for widespread adoption of Helium in smart city projects represents a huge opportunity for the network to expand its coverage and utility in urban environments.
Of course, Helium’s growth won’t be without challenges. The project faces the ongoing task of scaling its infrastructure while maintaining network reliability. As the number of hotspots and mobile users increases, Helium will need to invest in optimizing its network to ensure that it can handle the growing traffic load without sacrificing quality. Additionally, regulatory hurdles could emerge as Helium’s decentralized model becomes more prominent, especially as governments and telecom regulators assess the implications of decentralized wireless networks.
Despite these challenges, the future of Helium looks promising due to its pioneering role in the DePIN space. As more industries, consumers, and telecom companies recognize the benefits of decentralized infrastructure, Helium stands to be a key player in this transformation. The project’s innovative approach to solving long-standing telecom issues—such as high infrastructure costs, limited rural coverage, and expensive mobile plans—positions it to capture a significant portion of the market.
In the long term, Helium’s vision of creating a fully decentralized global wireless network could fundamentally reshape the way we think about telecommunications. If successful, Helium’s model could inspire a new wave of decentralized networks across other industries, from cloud computing to energy grids. The implications of such a shift would be profound, leading to greater democratization of essential infrastructure and empowering individuals to take a more active role in building and maintaining the networks they use.
Ultimately, Helium’s future depends on its ability to continue innovating and expanding its reach. With strong partnerships, a growing user base, and a scalable decentralized model, Helium is well-positioned to lead the DePIN movement and challenge traditional telecom giants. The next few years will be critical as Helium seeks to capitalize on the growing demand for affordable, decentralized connectivity, setting the stage for a new era of wireless communication.
Disclaimer: This research report is exactly that — a research report. It is not intended to serve as financial advice, nor should you blindly assume that any of the information is accurate without confirming through your own research. Bitcoin, cryptocurrencies, and other digital assets are incredibly risky and nothing in this report should be considered an endorsement to buy or sell any asset. Never invest more than you are willing to lose and understand the risk that you are taking. Do your own research. All information in this report is for educational purposes only and should not be the basis for any investment decisions that you make.
