What are HNT tokens used for?

HNT tokens can be burned to generate Data Credits, a non-fungible token to cover transaction fees on the network. Data Credits are also used to send sensor data and determine the Hotspot location. Helium uses a burn and mint equilibrium to ensure that the HNT supply is in line with the network usage trend.

What is helium (HNT)?

Helium's original aim was to build a decentralized wireless network for Internet of Things (IoT) devices. In its latest iteration, Helium aims to provide wireless network coverage to locations with poor Internet connection. Mining HNT tokens requires Helium-specialized hardware called Helium hotspots.

What are HNT & data credits?

HNT: tradable tokens capable of accruing value over time. The total market supply is 223 million HNT. Data Credits (DC): these are non-transferable tokens, meaning that the user is paying for a service and not sending them to anyone in the network. This is similar to pre-paid mobile data or airline miles.

Why is HNT burned out of circulation?

HNT is burned out of circulation in order to use the Network. Data Credits are created through the burning of HNT and have a fixed USD value. The Helium Network Token ("HNT") is the native cryptocurrency of the Helium Network and is the only token that can be burned to create Data Credits and send device data.