Demystifying HIP51


Let's Talk About This Graphic

We'll assume your eyes jumped straight down to LPWAN (IoT) 1.2%. 


Take another look at that first pie chart and note the size of the LPWAN (IoT) slice, notice they're the same. This pie chart indicates the fact Helium, before HIP51, provided a service that only around 1.2% of the global wireless market could utilize, which translates to a maximum prospective 1.2% of the yearly global industry budget.  By maximizing the wireless capabilities, Nova and Helium are maximizing utility by accessing the industries full budget. This is one of the few services that exist in which everyone on earth is a potential customer! 


Allowing other network protocols to onboard to Helium provides additional use-case utility to the service provided, thus adding long-term stability to the token. What HIP51 does is provides a platform for other network providers to use the Helium blockchain and $HNT reward system to incentivize users with the same bootstrapping strategy that saw Helium undergo absolutely unpresented growth. 



Do keep in mind, until it is sold, the HNT in your wallet represents stock in Helium, which is a tangible software being provided. This technology Nova created is new, and evolving, and like other new industry forerunners, including crypto itself, may see many large scale "corrections" (read more about the topic in our Passive Investing articles) while the market tries to figure out what this new entity is. The important fact of the matter, is that by encouraging other providers with the incentivization platform that underpins Helium's success, Nova labs now has companies lining up at their door for the opportunity to be a part of the ubiquitous decentralized wireless revolution. 


It is more than just a move to open up the Helium ecosystem to new connectivity protocols, it is the Second Chapter of the Network of Networks. By trying to onboard exciting new players in the mobile, blockchain and Web3 world Helium is securing long term partnership and compatibilities with players in the field with the most potential for long term growth. Take for example Nova acquiring FreedomFi to secure its long term 5G future, the recent HIP70 moving to the Solana Blockchain, potential partnership with services on the Web3 front such as The Boring Protocol and many more to come.




Unfortunately however, there has been a lot of FUD spread around the Discords, Reddit, and Youtube about what individual miners believe this Helium Improvement Proposal means for them. They are nearly all wrong.  Hotspot owners are encouraged to zoom out a bit, and keep the perspective that mining cryptocurrency isn't an income, it's an investment.


Some folks sell every bit of $HNT as they make it,  some went all in early and HODL. We aren't giving investment advice and will hold our tongues, because there may be an "I told you so" moment in Helium, but it'd be far too skeptical to say it's clear at this point who that will be. 


We do however know who we're betting on. Do you?

#LongLive the #ThePeoplesNetwork


Was this article helpful?

0 out of 0 found this helpful

Have more questions? Submit a request