How exactly do Hotspots mine $HNT? You asked. We answer.
The amount of $HNT Hotspots mine depends on the type of “work” they perform based on the value to the network. This validation of network contribution is accomplished by a new work algorithm called Proof-of-Coverage (PoC).
The amount of $HNT Hotspots mine depends on the type of “work” they perform based on the value to the network. This validation of network contribution is accomplished by a new work algorithm called Proof-of-Coverage (PoC).
There are 5 types of work a Hotspot can participate in:
1. PoC CHALLENGER: Hotspots are chosen by the network to issue “challenges”, or encrypted messages, over the Internet to a target group of Hotspots. Challenges are used by PoC to validate wireless coverage.
1. PoC CHALLENGER: Hotspots are chosen by the network to issue “challenges”, or encrypted messages, over the Internet to a target group of Hotspots. Challenges are used by PoC to validate wireless coverage.
2. PoC CHALLENGEE: Hotspots validate nearby wireless coverage by broadcasting challenges received from challengers using Radio Frequency (RF). The amount of $HNT each Hotspot earns depends on whether any of these RF broadcasts are received by other nearby Hotspots.
3. PoC WITNESS: Witnesses are Hotspots that hear and report PoC activity of other nearby Hotspots using RF. The portion of $HNT received depends on how much activity they’ve witnessed.
4. NETWORK DATA TRANSFER: Hotspots that transfer data from #LongFi devices on the network earn $HNT. The amount of $HNT is allocated proportionally based on the amount of data a Hotspot transferred.
5. CONSENSUS GROUP: Periodically Hotspots are elected to a rotating #HoneyBadgerBFT Consensus Group to validate transactions and publish new blocks to the #blockchain. Any Hotspot can be elected, making @Helium one of the most diverse and censorship resistant networks out there.
You can learn more about PoC and mining $HNT at helium.com/hnt.
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