Helium (HNT) and META 1 Coin both operate as decentralized ecosystems that support Dapp development in the market. As such, they share some common characteristics and features. However, it’s quickly evident that these projects are vastly different in purpose and structure when examined up close. Here’s some insight into the Helium (HNT) vs META 1 coin debate.
What is Helium (HNT)?
Helium is an Internet of Things (IoT) protocol that integrates blockchain technology to improve performance. The platform introduces a purpose-built blockchain and cryptocurrency to provide new levels of trackability to the market. Notably, the IoT is the global network of smart devices. Smart devices possess sensors and can communicate data freely online. There are over 4 billion IoT devices in operations across the globe currently.
Helium’s decentralized blockchain-powered network for the Internet of Things (IoT) devices connects thousands of devices already. The system provides developers with a way to leverage the thousands of ready-to-use IoT units in operation currently. The goal of the project is to simplify blockchain integration and to empower developers to create more responsive and advanced applications.
What is META 1 Coin
The META 1 Coin project is an advanced multi-layered DeFi ecosystem. The network combines various wealth generation strategies and features to enable regular users to achieve rewards with low risk. The META 1 coin operates as the main utility token within the network. This coin provides users with a multi-asset-backed stablecoin. When combined with the other aspects of the platform such as the DEX and savings account features, the network functions as an alternative to the corrupt centralized financial system in use today.
What Problems was Helium (HNT) Built to Alleviate?
One of the main problems that Helium was designed to reduce is commercial onboarding. Today, IoT sensors are nearly everywhere. While some firms utilize these devices, the centralized nature of these systems makes them unreliable. They can become corrupted because the provided derives from a single point of origin. Helium leverages a decentralized wireless infrastructure to ensure that all data is validated across multiple sensors in a censorship-resistant manner.
Energy consumption continues to take center stage amongst crypto debates. The number of people concerned about power-hungry networks such as Bitcoin continues to rise. Helium provides a more sustainable and energy-efficient model to the blockchain sector by enabling low-powered wireless devices to communicate with each other. These sensors gain the ability to send data across a network of nodes which can then cross-reference and verify the data before applying it to the blockchain.
What Problems was META 1 Coin Built to Alleviate?
META 1’s unique architecture allows it to tackle some major issues in the market such as corruption and centralization. The network utilizes the transparent nature of the META blockchain to provide an open and globally accessible financial system to the world. Anyone can join the META 1 coin network.
The META blockchain provides more scalability to the market. The network leverages an advanced DPoS (Delegated Proof-of-Stake) consensus mechanism. This protocol provides high transaction throughput. META is also oneof the most energy efficient blcockhains available due to this structure.
How Does Helium (HNT) Work?
Helium introduces a variety of new technologies to the market as part of its unique approach. One of the most interesting of these new technologies is an open-source and standards-compliant wireless network protocol named WHIP.
One of the main benefits of this technology is that it doesn’t require new infrastructure to be put to use. The protocol was built to run on existing commodity radio chips. These chips are commercially available from a variety of manufacturers which reduces costs. Notably, the network can run on these readily available chips with no modifications.
Users can earn rewards for operating a hotspot when they sign up for Helium. These users have a few ways to secure earnings. They can participate in the network’s consensus systems, Proof-of-Coverage as a challenger or a challenge. The first group submits proof of coverage to the network. The challenge provider acts as a witness and transfers device data over the network.
Helium Consensus Protocol
Helium introduces a new consensus protocol to the market. The Helium Consensus protocol operates as a multi-layered system that leverages popular tech such as Byzantine Fault Tolerant to provide a secure and permissionless user experience. Specifically, the network relies on that Proof-of-Coverage, Proof-of-Serialization, and Proof-of-Location systems to verify the state of the network and node operations.
One of Helium’s main goals was to improve logistics systems. The integration of IoT sensors enables users to track items using a variety of options. For example, Helium makes it possible to track the location of an item not using GPS. You can also track other vital data such as the item’s temperature, current state, and authenticity.
How Does META 1 Coin Work?
To accomplish its goal of empowering regular users to overcome financial obstacles set in place by the centralized powers, META 1 combines some exciting features. For example, the platform enables users to trade their META 1 coins for other popular cryptocurrencies via the network’s non-custodial DEX.
Non-custodial refers to the need to relinquish control of your digital assets to trade. Major exchanges such as Coinbase or Binance require you to allow these platforms to custody your coins. History has shown that if a centralized exchange is hacked, there is no guarantee your coins will be retrieved. META DEX users always retain ownership of their assets until the trade executes.
Users can take their META 1 coins and stake them to secure passive rewards with minimal risk. Staking is one of the most sought after features in the market today because it requires very little technical skills. Your rewards are determined by the amount your stake and time rather than your market understanding.
Along the same lines of thought, META introduces a high yield savings account feature that pays out 10% APY on your deposits. In comparison, the top-paying banks in the country pay out an average of .25% on fiat deposits. You can spend these crypto holdings anywhere that accepts VISA using the META 1 debit card. The system automatically converts your cryptocurrency to fiat currency once you swipe the card.
The Helium Token (HNT) is the primary utility token for the Helium blockchain. This token enables IoT devices to exchange actual value rather than just information. Users need to hold HNT to participate in Helium network features and Dapp development. Notably, hotspot providers simultaneously mine for HNT as part of the network. Additionally, all network rewards come in HNT.
The META 1 Coin combines the stability of gold with the convenience of crypto. The token’s value comes from a combination of gold-related assets. This concept is revolutionary on many levels as these assets appreciate and are better stabilized against loss. In turn, this drives the value of META1 higher over time. Consequently, the META 1 coin is self appreciating.
META 1 integrates some proprietary technology into the stablecoin equation. The developers created a value control mechanism that helps to stabilize the market by preventing large whale dumps. Specifically, smart contract 6 prevents token holders from selling their holdings under the asset value.
This contract works with another protocol that verifies that only individuals hold META 1. The goal of this system is to ensure that no large unfair players enter the METANOMICs market. This approach ensures that the project remains decentralized and community-driven moving forward.
Helium (HNT) vs META 1 Coin – Blockchain’s That Improve Life
After reviewing these projects, it’s obvious that they are designed to provide different services. However, both of these projects provide a more efficient alternative than their competition. Helium can improve logistics which could improve vital services such as distributing vaccines and verifying their authenticity. META 1 improves the lives of everyday users and improves their ROIs. In the future, these two networks could see some interaction as META 1 Coin users purchase goods sent via the Helium-powered logistics network.