Helium Network : Is it Still Profitable to Mine HNT in 2023 ?
The Helium Network started the year 2022 with approximately 450,000 hotspots and ended the year with roughly 980,000 hotspots in 187 countries and 76,000 cities.
The Helium Network is a decentralized wireless Internet of Things ( IOT ) using the LoRaWAN protocol to create a long range wireless network. Nodes ( miners ) on the network are individuals who operate Helium hotspots in their homes or place of business and are rewarded in the HNT token for their participation in the network.
While more miners are being added to the network every day rewards are being reduced over time. From genesis HNT was being mined at a reward rate of 5M HNT per month. In August 2021 the reward rate was reduced to 2.5M HNT per month and another halving will occur in August 2023 when rewards will again be cut in half to 1.25M HNT per month.
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Ultimately halving reduces the issuance rate of new coins by cutting down on the block reward provided to miners. This ensures that the amount of a…
