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July 03, 2024

Helium Community Initiates Discussion On HIP-128 Proposal, Suggesting Rewards For Users Engaging In Energy Market

In Brief

Helium community has initiated discussions on establishing an ENERGY subnetwork to reward users for their engagement in the energy market.

Helium Community Initiates Discussion On HIP-128 Proposal, Suggesting Rewards For Users Engaging In Energy Market

Community of a decentralized wireless Internet of Things (IoT) network, Helium (HNT) announced the beginning of discussions on the newly introduced HIP-128 proposal. This proposal suggests establishing a new subnetwork called ENERGY within the Helium ecosystem. The goal is to incentivize users to engage in the energy market by contributing through solar energy production and battery storage.

The ENERGY subnetwork aims to empower homeowners by allowing them to engage in and benefit from energy markets, which have traditionally been controlled by centralized energy companies. It intends to support the integration and rewarding of Decentralized Energy Resources (DERs), such as solar photovoltaic (PV) systems and batteries. This will enable homeowners to contribute to grid stability and earn rewards through the network.

The new network offers several benefits, including the chance for existing Helium Hotspots to earn both IOT and ENERGY rewards. It will also facilitate the transfer of sensor data over the current IOT infrastructure, boosting network activity. Meanwhile, enhanced Data Credit burn could potentially increase the value of HNT. Additionally, Helium’s expansion into the renewable energy sector will broaden its utility and market reach. Furthermore, by rewarding users for renewable energy production and storage, the network promotes green energy practices and helps reduce carbon footprints, improving overall sustainability.

Discussions about the proposal are currently ongoing and taking place on Helium’s Discord channel.

Helium Plans Series Of Proposals To Become ‘Network Of Networks’

Helium operates on the Solana blockchain and specializes in wireless infrastructure. It enables individuals and organizations to deploy Helium Hotspots, which power decentralized wireless networks for users. In 2022, Helium evolved into a “Network of Networks,” broadening its initial goal of creating an IoT network by incorporating a Mobile Network to deliver 5G connectivity.

The project intends to introduce a series of community subnetwork proposals in the near future to expand its vision beyond conventional wireless models. Helium seeks to reimagine open networks, inviting stakeholders to participate in reshaping the Helium Network, contributing to a broader “Network of Networks” rather than focusing on a single network.

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About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

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Alisa Davidson
Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

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