HNT, IOT, MOBILE, and Data Credits (2024)

FAQs

What are IoT data credits? ›

Data Credits (DCs) are the mechanism by which all Helium network usage is paid for. This token is redeemable for data transfer on both the IoT and Mobile subnetworks. Furthermore, certain actions such as onboarding a Hotspot are paid for using DC.

While HNT is used throughout the Helium network, IOT and MOBILE are instances of subDAO tokens used to reward operators of the subnetworks.

Launched by the Helium Network, MOBILE is a token that can be earned for a variety of activities on Helium Mobile, such as mapping the network, or deploying coverage for others to use.

IOT Holders can redeem their IOT for HNT. The redemption ratio is calculated every day anew (in technical terms: at the end of each "epoch") as the ratio between the amount of existing IOT tokens and the amount of HNT in the subnetwork Treasury at the time.

Data Credits allow you to pull data and know precisely how many credits you have left. Data Credits also provide account admins more control over how much data their account uses and where that data is pulled from. This ensures that data pulls are distributed across the account in exactly the way your team needs.

Understanding IoT Payment Systems

These systems allow for the automatic transfer of funds between devices without any human intervention. For example, you can use your smartwatch to pay for your morning coffee by simply tapping it on the contactless reader at the counter.

There are multiple reasons for HNT's recent decline. Perhaps the biggest reason could be Binance's recent announcement stating that it would delist the token from the platform in the coming days. The world's largest crypto exchange will discontinue the HNT/USD trading pair on March 24, at 03:00 (UTC).

Internet of Things (IoT) SIM cards are purpose-built for devices that need to connect to the internet or wireless cellular networks, whereas normal consumer SIMs are for smartphones and tablets.

The Helium Network Token ("HNT") is the native cryptocurrency of the Helium Network and is the only token that can be burned to create Data Credits and send device data.

Be a Network Builder

Build, Earn, and Grow: Deploy Hotspots to build the Helium Network and earn rewards. Use these rewards to lower phone bills or reduce costs for additional Hotspot purchases. Share, Earn, and Save: Enable Discovery Mapping on your business's phone lines and earn even more.

How much will Helium Mobile tokens be worth? ›

The price of Helium Mobile (MOBILE) is $0.001108 today with a 24-hour trading volume of $1,658,632. This represents a -2.57% price decline in the last 24 hours and a -7.41% price decline in the past 7 days. With a circulating supply of 98 Billion MOBILE, Helium Mobile is valued at a market cap of $108,461,509.

Helium Mobile offers an affordable, unlimited phone plan that runs on the Helium Mobile Network and utilizes the nation's largest 5G network when users are not in range of a wireless hotspot. Helium Mobile is its own entity, separate from the Helium Network and Foundation.

Helium is described as a blockchain-based network for IoT devices that uses nodes as Hotspots to connect wireless devices to the network. The native token HNT powers the network and serves as a payout whenever Hotspots transfer connection data across the network.

Redemption for HNT​

The Helium Wallet App serves as the primary platform for exchanging IOT to HNT. This transaction can also be performed directly through the Solana blockchain using the open-source tooling found in the Helium GitHub repositories.

IOT tokens can be traded on decentralized exchanges and centralized crypto exchanges. The most popular exchange to buy and trade Helium IOT is Orca, where the most active trading pair HNT/IOT has a trading volume of $8,105.91 in the last 24 hours. Other popular options include Raydium and Cube.

What is IoT? The Internet of Things (IoT) describes the network of physical objects—“things”—that are embedded with sensors, software, and other technologies for the purpose of connecting and exchanging data with other devices and systems over the internet.

By DeVry University

The Internet of Things (IoT) is an interconnected network of physical objects that "speak" to one another using sensors and software. These devices connect over the internet and can be used to transmit data, perform data analysis and control one another remotely.

The Internet of Things (IoT) stands as a key force in streamlining processes and enabling real-time data analysis for financial services. IoT has significantly transformed the banking and finance sectors from enhancing operational efficiency to revolutionizing customer experiences.

IoT data collection is the process of using sensors to track the conditions of physical things. Devices and technology connected over the Internet of Things (IoT) can monitor and measure data in real time. The data are transmitted, stored, and can be retrieved at any time.