Coinbase, the popular cryptocurrency exchange, has announced the listing of Helium (HNT) tokens, a move that is set to boost the accessibility and liquidity of the project. The development was hailed as a significant milestone by Arman Dezfuli-Arjomandi, a prominent member of the Helium community, who took to Twitter to share the exciting news along with the recent successful passage of two critical Helium Improvement Proposals (HIPs).
Helium Network, a decentralized network of hotspots providing long-range, wireless services to IoT devices, relies on the HNT token as a means to incentivize the expansion of its wireless networks through a unique work algorithm, known as Proof-of-Coverage (PoC). This listing is expected to add further momentum to Helium’s expansion and visibility in the global crypto ecosystem.
Many analysts consider this to be only the beginning of a giant rally for HNT.
Recent HIPs Bolster Helium’s Network
The Helium community recently passed two important HIPs – HIP 83 and HIP 89. HIPs are proposals designed to modify the open-source Helium protocol and network, and these two recent upgrades are expected to bring substantial improvements to the network’s performance.
HIP 83 pertains to the PoC Link Layer Upgrades, aiming to augment the efficiency and reliability of the Helium network by enhancing the link layer protocol used by PoC devices. This upgrade is designed to facilitate more efficient and reliable communication between PoC devices and the network, thereby leading to improved network performance and coverage.
HIP 89, on the other hand, seeks to rectify the Mobile Onboarding Fee and Location Assert Fee. The proposal called for the Helium Foundation to adjust the Mobile Onboarding Fee from 0 USD to 40 USD and the Mobile Location Assert Fee from 0 USD to 10 USD. This change is intended to ensure that the fees charged for onboarding and location assertion are consistent and equitable for all users.
Both HIP 83 and HIP 89 have been successfully implemented, with the former focused on enhancing network performance, and the latter on ensuring fairness in fee structures for users.
Helium Token Performance and Future Outlook
The HNT token has witnessed a noticeable uptick following the announcement. The Helium price on Coinbase is currently pegged at $1.85 per HNT, showing a 32.24% increase over the past week and a 27.10% surge in the last 24 hours. Though the current price stands significantly below the all-time high of $55.22, the Coinbase listing coupled with the successful passage of the recent HIPs is likely to stimulate positive market sentiment and potential growth for HNT in the coming days.
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