Internet & Telecommunications
Helium is a decentralized machine network that enables machines anywhere in the world to wirelessly connect to the Internet and geolocate themselves without the need for powerhungry satellite location hardware or expensive cellular plans.
Helium Systems Inc will operate a set of hosted routers that will make it easy for developers to launch products without needing to deploy their own router.
Instead of Proof-of-Work, Helium miners generate Proofs-of Coverage.
Helium miners cannot see the contents of the transactions without collaborating with other members of the consensus group to decrypt them.
Transactions with incorrect fees (either too high or low) will be rejected prior to the block being appended to the blockchain.
Helium proposes a consensus protocol Proof-of Coverage combined with a variant of the HoneyBadgerBFT (HBFT) asynchronous fault tolerant protocol.
HBFT relies on a threshold encryption scheme that requires transactions be encrypted using a sharded public key, such that the consensus group must work together to decrypt it.
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