Helium, the crypto-wireless network, has turned to the blockchain industry to create a mid-range wireless hotspot network powered by cryptocurrency rewards that people can use as an alternative to wired networks owned by centralized internet service providers.
Now, Nova Labs, the developer of Helium, is pushing into the critical, parallel realm of cellular networks as it has, it informed, bought FreedomFi, a company that makes software for 5G networks, as part of Helium’s expansion into mobile communications.
In an interview, Nova CEO Amir Haleem declined to disclose the purchase price or comment on the terms of this deal:
“WE HAD THE DESIRE TO HAVE RECEIVED MORE EXPERTISE FROM FREEDOMFI AND TO BE CLOSER TO ACCELERATING WHAT WE ARE DOING IN 5G MOBILE,” HALEEM SAID.
The Helium Network is a distributed network of long-range wireless hotspots that allows anyone to own and operate a wireless network for low-power Internet of Things (IoT) devices.
As part of the acquisition, FreedomFi team members will join Nova Labs. FreedomFi raised $9.5 million in funding from semiconductor company, Qualcomm and electronics company Samsung last March.
Helium 5G
FreedomFi is no stranger to the Helium ecosystem. In 2021 it was the first to introduce and receive approval for Helium 5G. Since then, the FreedomFi team has released the world’s first Helium-compatible cellular base station, which allows consumers with zero knowledge of 5G technologies to build a mobile network from home and start mining the project’s native tokens called HNT.
The two entities started working together about 18 months ago, according to Haleem.
FreedomFi co-founder and CEO Boris Renski said that joining Nova opens the door for an innovation that will have a lasting impact on the telecom industry.
“USING A CRYPTOCURRENCY INCENTIVE MODEL TO DEPLOY MOBILE NETWORKS PROMISES TO MAKE COMMUNITY-BASED MOBILE NETWORKS A REALITY, BRINGING AFFORDABLE AND UBIQUITOUS CONNECTIVITY TO MORE PEOPLE,” SAID JOEY PADDEN, CHIEF TECHNOLOGY OFFICER AND CO-FOUNDER OF FREEDOMFI.
Tremendous growth
Haleem pointed out that Helium is still heavily focused on IoT growth and said that around 30,000 hotspots are being added to the network every month around the world, up from a total of 70,000 at the beginning of 2021.
“WE ARE FOCUSING ON GROWING THE USAGE SIDE OF THE NETWORK AS COVERAGE SEEMS TO BE GOOD ALREADY,” HALEEM SAID, ADDING, “THE IOT NETWORK IS GLOBAL. 5G IS ONLY IN THE USA AT THE MOMENT, GIVEN THE NETWORK REGULATIONS IN EUROPE.”
Previous Articles:
- JPMorgan: Coinbase’s short-term outlook is “still bleak”
- Pangolin Launches Sunshine and Rainbows: The Ultimate Staking Algorithm for Sticky Liquidity
- 5 Best Crypto Mobile Games
- How to maintain financial privacy in the world of Bitcoin
- What is a crypto NFT?
