Helium Mobile (MOBILE)

What is Helium Mobile (MOBILE)?

Helium Mobile (MOBILE) is a wireless phone service built on the decentralized, crypto-powered Helium network, which enables individuals to establish and manage mobile networks through token incentivization

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Operating on the Solana blockchain and leveraging T-Mobile’s robust 5G infrastructure, Helium Mobile ensures the provision of reliable cellular phone services.

Techopedia Explains

Helium Mobile subscribers can earn crypto tokens every time they use their phones, making it a unique platform that merges blockchain technology with mobile communication.

Established in 2013 by Amir Haleem, Shawn Fanning, and Sean Carey, the Helium Network seeks to establish a decentralized wireless platform to support the expanding Internet of Things (IoT) industry. 

The network rebranded to Nova Labs in March 2022. That same year, they raised $200 million in Series D funding from VC firms Tiger Global and Andreessen Horowitz (a16z). 

Soon after, Helium solidified a multi-year partnership with T-Mobile, a prominent player in America’s 5G landscape, signaling the launch of Helium Mobile.

In August 2023, Helium Mobile made its commercial debut with a limited trial rollout in Miami, Florida. This decentralized communication service offers: 

  • Unlimited talk
  • Text
  • Data usage at an affordable $20 per month no-contract plan. 

A noteworthy feature of the project is the introduction of ‘Mobile Hotspots.’ These hotspots empower subscribers to become owners and operators of “mini cell towers,” effectively eliminating dead zones.

According to the Helium Hotspots Map, as of 20 December 2023, the network currently boasts 4,237 active mobile hotspots and an impressive 366,226 active hotspots catering to IOT devices.

This hotspot development enhances wireless connectivity and encourages community participation in building and expanding the decentralized wireless network.

The Helium Mobile project is powered by its protocol token, MOBILE. 

The MOBILE Token

MOBILE is the designated protocol token for the Helium Mobile Network, introduced through the community proposal HIP-53. As of December 20, 2023, the digital asset boasts a total and circulating supply of 78.6 billion tokens, respectively. 

The MOBILE token has several key functionalities, including:

  • Governance: MOBILE token holders can propose and vote on updates and new developments within the network. This process ensures the decentralized peer-to-peer (P2P) platform aligns with the community’s objectives.
  • Staking and Network Security: Token holders can stake their MOBILE tokens, actively contributing to the network’s security. In return, they earn passive income through new token rewards. This commitment enhances the stability and reliability of the network, making it more resilient against external threats.
  • Transaction and Service Fee: MOBILE tokens serve as a medium of exchange within the Helium Mobile Network, facilitating various transactions and covering associated service fees. 
  • Incentive Mechanism: Users are incentivized with MOBILE tokens for actively contributing to the support and expansion of the network. One way to earn these tokens is by voluntarily sharing data related to network coverage. Importantly, this data-sharing activity is optional, allowing users to decide whether they want to participate.

How to Buy Helium Mobile Crypto?

To buy the MOBILE token, investors can follow these steps:

  1. Select a Trading Platform: Choose a reputable cryptocurrency exchange that supports the trading of MOBILE tokens. Ensure the platform has liquidity and is regulated in your region. 
  2. Fund Your Balance: After successfully creating an account, users need to fund their trading account. Most exchanges accept deposits in fiat currencies (e.g., USD, EUR) or via cryptocurrencies. Choose the preferred option to initiate a deposit and buy MOBILE.

Where to Buy Helium Mobile Crypto?

Investors can purchase the MOBILE token at leading cryptocurrency exchanges, including BitMart, MEXC, Orca, and Raydium. We created a detailed MEXC review here. All platforms listed in this section are popular for trading MOBILE tokens. 

However, traders are required to create a verified trading account and make a deposit before they can trade MOBILE tokens.

For investors who want to trade cryptocurrencies and remain anonymous, our guide on the best No-KYC cryptocurrency exchanges would be helpful. 

However, traders should research before committing their funds to any exchange.

How Does Helium Mobile Work?

In the conventional landscape, setting up mobile networks has been an intricate process involving professional-grade equipment, technical setup procedures, and collaboration with installers.

Helium Mobile streamlines this process through simple device installation, ensuring optimal connectivity and offering affordable plans to redefine the mobile carrier space while actively involving the community.

The project achieves its objectives through two key components:

Helium Mobile Hotspot

This advanced hardware, designed for indoor performance, plays a pivotal role in building and reshaping mobile connectivity. Individuals can easily deploy Helium Mobile Hotspots, expanding connectivity in venues like gyms, cafes, and shops. Subscribers benefit from seamlessly connected experiences, and this grassroots approach to network expansion is fundamental to Helium Mobile’s distinctive positioning.

People-Powered Dynamic Coverage

Dynamic Coverage combines nationwide coverage with the community-built Helium Mobile Network. Unlike other carriers, Helium Mobile utilizes a blend of networks with coordinated handoffs between them.

This innovative integration rewards individuals with MOBILE tokens for providing coverage. As a result, Helium Mobile users enjoy enhanced coverage from multiple networks and increased capacity in high-usage areas.

As part of this community-driven initiative, Helium Mobile users actively contribute to a stronger network with every added radio and hotspot. This collaborative effort, where individuals are rewarded for creating and maintaining coverage, represents a significant shift in the carrier industry.

Users play a pivotal role in the success and sustainability of the Helium Mobile Network. This innovative model sets Helium Mobile apart, highlighting the potential of a community-built network that recognizes and rewards individuals for their meaningful contributions.

Key Features of Helium Mobile

6 Key Features of Helium Mobile

Helium Mobile presents a distinctive combination of intrinsic-driven features, including

1. Decentralization

Decentralization is a key feature of Helium Mobile, utilized to empower individuals and mitigate the dominance of telecom giants like Verizon, AT&T, and T-Mobile. These traditional providers are frequently criticized for overcharging users, mismanaging resources, and delivering subpar services. 

By enabling individuals and businesses to employ WiFi-like devices for mobile cellular coverage, Helium Mobile ensures users have more control over their connection. This approach broadens coverage where it’s most needed and also establishes incentives for individuals to contribute to the coverage.

2. Affordability

In a decisive step towards making connectivity accessible, Helium Mobile introduced an unlimited $20 plan. This initiative ensures that the cost barrier does not impede entry into the Web3 world. The plan serves as users’ initial foray into Web3, showcasing how digital utility tokens, such as MOBILE, facilitate value exchange over physical wireless infrastructure.

This decentralized and deflationary model disrupts the traditional wireless carrier pricing structure and eliminates high monthly costs ranging from $40 to $90. 

3. Coverage

Helium Mobile stands out for its impressive and seamless coverage, even in difficult-to-reach areas. Thanks to a strategic partnership with T-Mobile, users who are not within the vicinity of Helium Mobile network providers can seamlessly leverage T-Mobile’s network in the background.

Embracing a dynamic coverage model, the network relies on multiple nodes and relay points, ensuring users consistently enjoy a reliable connection. Whether in a remote mountain, connectivity challenges are poised to become a thing of the past.

4. Proof of Coverage (PoC)

The Helium blockchain features a unique consensus algorithm called “Proof of Coverage” (PoC). This algorithm plays a crucial role in ensuring the integrity of hotspots by validating their accurate representation of physical locations. 

Additionally, PoC assesses and verifies the wireless network coverage generated by these Hotspots from their designated positions. The algorithm serves as a mechanism to prevent malicious actors from falsely claiming coverage in locations where they are not physically present. 

5. Mapping Rewards

Beyond providing connectivity, subscribing to Helium Mobile also unlocks a rewards system where users earn MOBILE tokens over time. These cryptocurrency rewards can be traded on major exchanges like Coinbase and Kraken, adding an extra layer of value for subscribers. 

6. Mobile Wallet

Helium provides a mobile wallet for users’ subscriptions. This feature serves as a digital wallet for storing various digital assets, including tokens and badges.

When users subscribe to Helium Mobile, an associated wallet account is automatically created on the Solana blockchain and linked to their account.

Helium Mobile Reward Structure Update

Since the launch of its $20 monthly unlimited mobile services plan in the United States, approximately 8,000 individuals have enrolled with Helium Mobile.

As part of the onboarding process, new members can earn “mapping rewards” by sharing their phone’s session connection data with the company.

This development has propelled the platform token, MOBILE, to a substantial 65% surge, accompanied by an impressive 610% increase in trading volume over the past seven days. The rising value of the asset is attracting a wave of new signups, along with a notable influx of suspicious accounts to Helium Mobile.

In response, the platform has made adjustments to the rules governing the crypto rewards payouts for its cell plan. Under the updated terms of service as of December 18, 2023, new Helium Mobile subscribers must wait eight days before claiming any MOBILE tokens earned in exchange for sharing their location through Discovery Mapping.

The decision to make adjustments was driven by the identification of customers exploiting the system, farming MOBILE tokens for seven days, canceling the phone plan, and securing a complete refund.

The Bottom Line

Helium Mobile (MOBILE) is a pioneering wireless phone service operating on a cryptocurrency-driven model. The project provides users with unlimited talk, text, and data usage at an affordable rate.

The integration of cryptocurrency, specifically its native token MOBILE, introduces a distinctive aspect to the conventional mobile service model.

As adoption grows and technology evolves, Helium Mobile has the potential to expand its presence globally. The project will organically adapt to the diverse needs of various regions, positioning itself as a transformative force in the telecommunications sector.

 

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Jimmy Aki

A graduate of the University of Virginia and now based in the UK, Jimmy has been following the development of blockchain for several years, optimistic about its potential to democratize the financial system. Jimmy's previously published work can be found on BeInCrypto, Bitcoin Magazine, Decrypt, EconomyWatch, Forkast.news, Investing.com, Learnbonds.com, MoneyCheck.com, Buyshares.co.uk and a range of other leading media publications. Jimmy has been investing in Bitcoin himself since 2018 and more recently in non-fungible tokens (NFTs) since their boom in 2021, with expertise in trading, crypto mining and personal finance. Alongside writing for Techopedia, Jimmy is also a trained economist, accountant and blockchain…