• Breaking News

    Friday, July 9, 2021

    Home Unlabelled Crypto Currency Markets RIP

    Crypto Currency Markets RIP

    July 09, 2021

    Crypto Currency Markets RIP

    RIP

    Posted: 09 Jul 2021 06:55 AM PDT

    Twitter suspends NFT platform Splinterlands the day that Twitter's NFT launches. Anti-competitive behavior?

    Posted: 09 Jul 2021 12:52 PM PDT

    Paperhands in a nutshell

    Posted: 09 Jul 2021 10:00 PM PDT

    CertiK-Audited OpenOcean Receives Funding from Huobi Ventures

    Posted: 09 Jul 2021 01:07 PM PDT

    The Fundamental Bull Case for HNT (DD)

    Posted: 09 Jul 2021 04:04 PM PDT

    Preface and Disclosures:

    None of the information presented is to be taken as financial advice. I am merely a broke college student with too little time on my hand that happens to really like this coin. I personally am currently mining HNT and thus benefit from positive price movements. I am likely to be biased as I have a permanent position in the aforementioned currency and hold an optimistic (bullish) view.

    What is the People's Network?

    Helium, the people's network, is a low power, high range, low bandwidth, wireless network provided by individuals. The network is intended to service Internet of Things ("IoT") devices and enable real time data transfer via this network. The wireless technology used in this network is LoRaWAN, a patented low power high range radio signal technology. The network itself is provided by the people as they host hotspots from their homes, offices, or friends' homes. These hotspots provide the wireless network for others to use by sending out a wireless signal and connecting to the Helium blockchain via the internet. The incentive for hotspot owners to provide this network is that they get compensated for the use and coverage of the network in the cryptocurrency Helium Token (HNT). These hotspots are effectively miners. All current real time data relating to the network can be found on Helium's explorer page (Helium Explorer, 2020).

    Why use The People's Network?

    The main use for the Helium network is to connect IoT devices. This already provides a wide breadth of use cases. The primary reason however is affordability and convenience. Companies that wish to use this network need not build their own infrastructure as the network is being provided by many individuals. The cost of use is a fraction of that when compared to a conventional cellular connection. Additionally, the devices themselves do not need a lot of power to stay connected to the network and eliminate the need for a sim card. Furthermore, all connections are encrypted and anonymized, and thus unlikely to be susceptible to breaches. This makes for a very attractive proposal to large businesses and startups looking to utilize the network. The low cost and lack of need for maintenance is more than compelling for any balance sheet. Even private individuals would be incentivized to use the network for their own personal solution.

    What using the network means for HNT and current use cases.

    Currently, quite a few companies have signed on to use the network and quite a few startups are looking to launch their product and utilize the network. Here is a list of some of the most promising use cases with a list of companies in parenthesis:

    · Asset Tracking (digital matter, Conserv, Lonestar Tracking, Lime)

    o Asset tracking implies putting a GPS tracker that utilizes the helium network to ascertain the location of specific assets. By utilizing Helium, the trackers need less power, are cheaper to use and require no infrastructure to be set up by the utilizing company. The assets can range from micro mobility devices such as rental bikes, scooters, skateboards and others, to cars, paintings and construction vehicles (Use The People's Network, 2019).

    · Package Tracking (Barnacle)

    o Packages can be independently tracked from the shipping company and prevent package theft, package loss, and accurate real time tracking of packages. The receiver would gain access to a specific hash that they can use to track their package. This is intended for high value product orders. A return address is printed on the back of the tracker itself and once the package has arrived at its intended destination the customer can send the tracker back via conventional mail (Boen, 2021).

    · Pet tracking (InvisiLeash)

    o A dog or cat collar fitted with a helium tracker can allow the owner to quickly and accurately locate their lost pet. Additionally, the low power necessary means that the tracker doesn't need to be charge frequently. It can also automatically activate only once the pet has left a specified area to conserve using data credits when it isn't necessary (Use The People's Network, 2019).

    · Vehicle and Metropolitan Uses (Nobel Systems)

    o What if you were to need to find parking quickly and accurately in any metropolitan area? Using the Helium network, sensors by parking spaces could tell you in real time which parking spaces are free and which ones are occupied. Additionally, parking could be charged automatically (Use The People's Network, 2019).

    · Health Monitoring (CareBand)

    o Elderly people have quite a few challenges to face in their twilight years, especially those suffering from dementia and other memory and cognitive impairment diseases. By having them wear a bracelet that monitors their activity and if necessary, their location, loved ones can be quickly found and helped in the case of an emergency (Use The People's Network, 2019).

    · Agricultural Monitoring (Agulus)

    o A lot of agricultural machinery is moving in the direction of atomization. Being able to control and monitor said machinery by utilizing the Helium network would reduce costs, provide enough range to cover vast amounts of land, and instantly notify the operator if any intervention is necessary (Use The People's Network, 2019).

    These use cases are quite promising and provide a real-world application that is useful to the consumer as well as the provider. Helium provides a robust decentralized network that is safe, cost effective and useful. Now that we have established why one would use this network, lets delve in to what happens when you do.

    Users of the network need to pay for its utilization. They can do this by using Data Credits (DC). DC are created by burning the crypto token HNT. Burning means that the token is removed from the supply forever. One HNT is worth 1 million DC. Thus, the utilization of the network increases demand by reducing supply. Supply is replenished by hotspot owners and Validators that maintain and provide the network.

    Tokenomics of HNT

    HNT is the cryptocurrency that is mined by hotspots and validators of the network. Data Credits are used by devices to send data on the network and for transaction fees on the blockchain. They can only be obtained by burning HNT, are non-transferrable and tied to a single user. The cost of data transfer using DC is fixed and does not fluctuate with the price of HNT. However, the amount of data credits one HNT is worth does fluctuate. This is known as oracle price. The oracle price is close to the trading price but more stable and averaged out based on trading price. For example, if HNT is currently trading at 15$ and the oracle price for 1 HNT is 15.50$ then one HNT is worth 1.55 million DC. HNT has a Maximum supply of 223M HNT and the mining of the token is halved every two years on the network's genesis anniversary. The first halving is scheduled for August 1st 2021. The ultimate goal is to achieve a minting and use equilibrium. Due to HNT needing to be burned to use the network, Helium miners and validators can continue to earn rewards after the maximum supply has been mined. Additionally, a reserve pool is allocated over time. A certain percentage of newly minted HNT is kept in a reserve pool that can be used to pay out miners and validators over time after max supply has been reached guaranteeing a continued rewarding of providing network coverage. This is known as Net Emissions (What Are Net Emissions?, 2021).

    Requirements for Mining HNT

    HNT can only be mined by one of two methods. The first is by providing network coverage with a Helium hotspot, creating proof of coverage challenges, passing proof of coverage challenges, witnessing other hotspots passing proof of coverage challenges, and for transferring data. Only hotspots created by approved manufacturers are able to mine and DIY hotspots can be used as a relay to provide a larger coverage area. As previously mentioned, there is not proof-of-work hash rate or hashing like it is currently the case with ETH and BTC. The heavy lifting in terms of processing power has been moved from hotspots to Validators as of the 7th of July 2021. As an aside, Hotspots barely use any power themselves, a RAK V2 Hotspot uses an average of 12W, thus making the mining very profitable in comparison to traditional proof-of-work mining. The second method is by staking 10k HNT and becoming a validator. A validator is a server that runs the blockchain and offloads most of the processing power required for the blockchain and verifies and validates transactions and block integrity. In order for a validator to be online, 10k HNT must be staked. The current official APY for staking is 22% with the halving on August 1st taken in to consideration. Third party pool-based staking platforms may offer higher or lower returns.

    Mining mechanics and mining profitability

    As mentioned previously, miners provide the network and get compensated for it. This means effectively there is no hash rate as it does not mine via a proof-of-work but via proof-of-coverage. However, there are some conditions. Every miner should be at least 300m apart from each other. Furthermore, the denser an area the more the rewards of miners are scaled down. Scaling means that hotspots that are close together will have their rewards automatically scaled down by a multiplier. For example, if there are too many hotspots in an area the mining scale might be .50 which means that every reward paid out will be multiplied by .50 and thus the reward is half of what it would normally be. Covering areas with less hotspots but enough to forge connections and witness each other is ideal. Everyone benefits from areas that are less congested. Additionally, miners need to have their location asserted during initial setup or when it is moved. This requires the owner to pay a DC fee. The location needs to be fixed and can not be mobile as that would defeat the purpose for providing coverage to a specified location. There are solutions however of having miners set up in remote fixed locations by using cellular for transmitting internet traffic and solar for power. As for profitability, at the time of writing well performing HNT miners can mine around 100HNT per month. After the halving that would be 50HNT per month. At current average trading price of 13$ that is 1300$ per month and after the halving 650$ per month. However, it is likely that the halving will increase the price as demand increases and minting has been cut in half. The initial cost for a miner and a decent antenna comes to around 400-500$ per unit. That means after the halving the ROI for a miner would be less than one month for a miner that performs very well and is in optimal conditions. Furthermore, it is worth considering getting multiple miners and setting them up in multiple locations in preferable less dense areas. Having a healthy 3km or 2-mile distance between each miner would be optimal. Each miner will mine to the same wallet address and they are capable of witnessing each other for extra payouts. The power draw being between 13W and 15W makes this a very attractive proposition as this is negligible in comparison to standard proof of work mining. The only cost consideration would be internet as a miner is known to use about 30GB of data each month which may be a factor for miners running on cellular internet connections.

    Security

    The HNT wallet is currently available in two forms, the mobile app with fingerprint and other biometric unlocking methods, as well as a command line interface wallet. The CLI wallet requires more caution on behalf of the user (Wallets | Helium Documentation, 2019). The mobile app also uses a 14-word security pass phrase and has the option to further secure the wallet with a pin and biometric identifier. The 14 words need to be backed up and secured otherwise the wallet may be lost forever. Each wallet additionally uses asymmetric private keys. Transactions are secured by validators and are just as anonymous and encrypted as a transaction on the ETH blockchain. As for the security regarding hacking, the most common attack vector on hotspots is the only required port that needs to be open is TCP 44158. All other inbound and outbound connections can be blocked or adjusted as needed. The connection the hotspot forges however is exclusively to the blockchain and the connection from each device to the hotspot as well as hotspot to blockchain are encrypted with AES private key encryption at the chip level. Furthermore, each device communicates with the hotspot via LongFi or LoRaWAN and not IP (Internet Protocol). While inexpensive, each transaction and data transfer require DC and thus isn't free. This also serves as a deterrent for potential hacking attempts and scammers. The radio and wireless signals emitted also all comply with each region's wireless regulations regarding unlicensed frequency bands (Security FAQ | Helium Documentation, 2019).

    Forward looking speculative outlook for HNT

    As outlined, HNT has a very strong fundamental case in terms of Tokenomics, mining and use cases. I firmly believe that there is a demand for the use cases outlined, and further use cases that are yet to be developed may completely outshine the ones on display here. Something that has not been mentioned is that there is additionally a 5G network coming to Helium. This is supposed to offload regular 5G network traffic when the cellular providers are overloaded to ensure more stable connections and less slowdowns overall. It would use DC for the data transfer costs thus reducing supply. Separate 5G miners are in production, but as of this time they do not factor in to the Helium network yet. The 5G network could however bring on millions of users helping to achieve burn and mint equilibrium faster than expected and may even outpace the minting (Haleem, 2021). As for the fair price of HNT, as of time of writing, HNT has reached an ATH of 22$ per coin and currently trades at around 13$ a coin. In my estimation based on the fundamentals outlined here, a realistic fair price of 30$ per coin is not unheard of. A speculative value of 150$ per coin post halving and increased interest in the project is realistic. This assessment is based on the fact that the market is massive if helium truly succeeds. When taking a burn to mint equilibrium in to account, the value of HNT should be 20$ per $1M DC usage. The current usage of DC on the network is $1.5M thus the assessment of 30$ (James Fayal on, 2021). The halving may introduce an increased interest in purchasing the coin as mining rewards will be reduced by half and thus demand will increase. Overall, fundamentally, HNT is a solid project with realistic prospects and use cases.

    TL:DR

    Helium is a wireless network that companies are champing at the bit to use as its cheaper than cellular. The demand for the coin will increase as more companies develop uses for it as the only way to use the network is by burning its cryptocurrency. The only way to obtain it is by buying or mining, thus the demand for HNT could skyrocket if the use cases are compelling enough. HNT go BRR in the long run.

    Works Cited

    People-Powered Networks. Helium. (2019). https://www.helium.com/

    Build The People's Network. (2019). Helium. https://www.helium.com/mine

    Use The People's Network. (2019). Helium. https://www.helium.com/use

    Helium Explorer. (2020). Helium Explorer. https://explorer.helium.com/

    Haleem, A. (2021, April 27). Episode Two: The Path To 5G - The Helium Blog. Medium. https://blog.helium.com/episode-two-the-path-to-5g-3f704a58661

    Boen, M. (2021, June 28). Package Tracking Like You've Always Dreamed with Barnacle. Medium. https://blog.helium.com/package-tracking-like-youve-always-dreamed-with-barnacle-a4c6a3caff27

    What Are Net Emissions? (2021, April 16). YouTube. https://www.youtube.com/watch?v=stPWRvTtorI

    wallets | Helium Documentation. (2019). Wallets. https://docs.helium.com/wallets/

    Security FAQ | Helium Documentation. (2019). Security. https://docs.helium.com/faq/security/

    James Fayal on. (2021, February 20). Twitter. https://twitter.com/JMFayal/status/1363273548966612992?s=20

    submitted by /u/Sense_of_Life
    [link] [comments]

    DeFi insurance platform InsurAce is now available on both Ethereum and Binance Smart Chain

    Posted: 09 Jul 2021 12:31 AM PDT

    From Livestock to Bitcoin: "Legitimacy" and the Evolution of Money | Mises Institute

    Posted: 09 Jul 2021 07:00 PM PDT

    Bitcoin Flatlines, BTC/USD Rejected at $36k as bears Flow Back

    Posted: 09 Jul 2021 02:59 AM PDT

    Wall Street Thinks Dogecoin Is Dead, But These 3 Cryptos Can Live Forever

    Posted: 09 Jul 2021 08:31 PM PDT

    Pitbull has started this month getting reviews on various platforms in cryptocurrency media. Along side these great posts, an email shoutout has been sent to a big investor audience by TheCapital in their network since last Sunday. Road to 500k holder has started | TG: Pitbull_BSC

    Posted: 09 Jul 2021 10:35 AM PDT

    I Have Been Holding Portfolio Token PTF for 47 days.

    Posted: 09 Jul 2021 05:58 PM PDT

    In this time, I have witnessed the Developers and Community grow together to create a unique and liquid utility token. The Developers and community are continually communicating and adapting, to best help this project build to new heights. I am immensely proud to have a small part in this "one team" environment, working together to make Portfolio Token, THE PEOPLES TOKEN.

    Come check out our great project that is changing what crypto investing means, together we will grow our Portfolio Token massively.

    https://www.portfoliotoken.net

    https://bscscan.com/token/0x307204863f3bc29d1a874e38ace62114a8990c4e

    https://youtu.be/-wyla6DWPwk

    https://www.facebook.com/Portfolio-101727558747865

    https://twitter.com/PortfolioToken

    https://www.reddit.com/r/PortfolioToken/

    submitted by /u/Wade6895
    [link] [comments]

    HUGE UPDATE!! ($COP) COPIOSA - DEFI - COINBASE for small cap crypto | 8M Market Cap | 10K Holders | New App/Wallet designs released! | Community beta testing soon!....www.Copiosa.io

    Posted: 09 Jul 2021 08:18 AM PDT

    Analisis Tecnico del Mercado Cripto - BTC, ADA, ETH, DOT, BNB, CAKE, ELR...

    Posted: 09 Jul 2021 09:17 PM PDT

    Crypto Sentiment on Reddit – 9th July 2021 | Ethereum is the most mentioned cryptocurrency for a 3rd day in a row | ETH, BTC, ALGO, ADA, MATIC

    Posted: 09 Jul 2021 04:43 PM PDT

    What's coming for DAOs in 2021? Consequences of the Wyoming law, most important active DAOs and common misconceptions.

    Posted: 09 Jul 2021 03:57 PM PDT

    Crypto.com First Exchange Approved to Offer Bank Transfers in Malta

    Posted: 09 Jul 2021 08:56 AM PDT

    Cardano aiming for a BILLION users over next decade

    Posted: 09 Jul 2021 01:27 PM PDT

    Anyone disappointed ETH didn’t go under $2k? I was planning on buying a couple bucks worth of it but looks like today isn’t the day ��

    Posted: 09 Jul 2021 08:59 AM PDT

    Anyone disappointed ETH didn't go under $2k? I was planning on buying a couple bucks worth of it but looks like today isn't the day 😢

    submitted by /u/Expensive_Let_2720
    [link] [comments]

    The CEO of MFS will participate in an official event of the cultural house of Spain talking about bolckchain and NFT.

    Posted: 09 Jul 2021 04:18 AM PDT

    Hello,

    We are glad to announce that our CEO, Sergio Carrasco, will be participating in a conference about Blockchain Technology and NFT in an event coordinated by the Spanish Cultural Centre of Mexico this 29th July. He will be talking about some of the challenges that NFTs bring forth, and that we'll try to solve through our MFS Project.

    This will be the first tokenized cultural event in Mexico, and you'll be able to follow it through YouTube. The first 50 people who interact with the event will also receive an NFT of the event.

    You can check who will be participating in the event in the link below, and I think that it will be get very interesting. The event will be in spanish.

    http://ccemx.org/evento/blockchain-y-nfts/

    REDDIT LINK: https://www.reddit.com/r/moonbasetoken/

    submitted by /u/Exotic_Reflection329
    [link] [comments]

    What does the future of Crypto look like to you?

    Posted: 09 Jul 2021 05:06 PM PDT

    Feel free to back your answer in the comments

    View Poll

    submitted by /u/WorkerBee-3
    [link] [comments]

    HVI Hungarian Vizsla Inu - came across these guys, seem like solid and doing great things. Just felt like sharing :)

    Posted: 09 Jul 2021 05:01 PM PDT

    I wrote an article discussing some interesting statistics of Bitcoin price

    Posted: 09 Jul 2021 01:47 AM PDT

    The Hateful Eight: TEL, CELO, HBAR, VET, DOGE, ICP, QTUM, XLM — Biggest Losers from July 2nd to July 9th

    Posted: 09 Jul 2021 07:41 AM PDT

    How to fund in Kraken for Texas residents?

    Posted: 09 Jul 2021 04:04 PM PDT

    I'm having difficulties trying to fund my account in Kraken. It's a little bit different for those who live Texas to fund Kraken than in other states. I can't do ACH transfer from banks like in Coinbase, Gemini, etc. Kraken doesn't provide ACH transfer for Texas residents. I asked Kraken how to make a transfer from my bank & they said Fedwire from my bank which involved going or calling bank to make a transfer to Kraken account. It involves a lot of works & cost $5 fee for Kraken & $20-$30 fees depending on bank. What's the easiest way to fund in Kraken? Buy from other exchanges & send it to Kraken?

    Thanks

    submitted by /u/finewhateverman
    [link] [comments]

    Why is everyone okay with these high exchange fees in the market ??

    Posted: 09 Jul 2021 12:10 PM PDT

    I feel like no one is really doing anything about it and the exchange companies are getting away with ripping us off...

    Some companies like CoinBase are really pushing the limit, while we clearly see smaller companies like NFTY offering almost zero in fees and STILL doing super fast exchanges.

    I'm not saying exchange rates should drop as low as zero obviously since exchange fees help out a lot with expenses and losses. But damn ! This is getting out of hand ! I feel like I'm being ripped off ! I'm sure the big exchange company platforms can easily afford to bring down the fees a notch.

    submitted by /u/SatanicSpoon
    [link] [comments]
    Read more
    at

    No comments:

    Post a Comment