Bison Trails Announces Support for Helium Network Ahead of Transition to Proof-of-Stake

By AIT News Desk On Jun 1, 2021

Bison Trails, the leading blockchain infrastructure platform-as-a-service company, announced it will be supporting the Helium Network’s blockchain upgrade to a proof-of-stake consensus model to increase network reliability. Bison Trails will also provide secure infrastructure for participants to run validators in the network.

Helium is a decentralized wireless infrastructure that allows “internet of things” devices (IoT) to wirelessly connect to the internet and geolocate. Bison Trails’ support will enable holders of HNT, Helium’s native cryptocurrency, to run their own validator, helping to secure the network and earn rewards. This is a critical next step to scaling the shared network state and increasing the decentralization of the network.

“The Bison Trails platform is optimized to run a large number of Helium nodes—we make it very easy to deploy and maintain your infrastructure, with nodes managed from one simple, non-custodial interface,” said Joe Lallouz, CEO of Bison Trails. “Bison Trails is working closely with the core protocol developers around critical network issues, such as network economics. We look forward to supporting them in the transition to proof-of-stake and the broader adoption of the network.”

Evolution Equity Partners Invests In Series B Round of Augment Inc. Empowering Software Development Teams With AI

Nov 4, 2024

Advex AI Raises $3.5Million Seed Round, Launches Revolutionary GenAI Synthetic Data Platform for AI Vision in Manufacturing

Nov 4, 2024

View Systems Announces General Availability of AI Data Management and Insights Platform

Nov 4, 2024

Prev Next 1 of 40,584

Helium is powered by a P2P network of hotspots that create low-cost, pay-as-you-go internet connections using radio frequencies and consumer-grade hardware. It is secured by using a novel work algorithm called Proof-of-Coverage, which verifies that hotspots are accurately representing their location and the wireless network coverage they are creating from that location. Helium currently powers over 44,000 hotspots, and about 1,000 new hotspots are added to the network on a daily basis.

This summer, Helium will become a proof-of-stake protocol with the support of Bison Trails. As part of this transition, a new layer of enterprise-grade proof-of-stake validators with robust infrastructure will be introduced to increase the scalability of the network, offer robust connections, and in the future, create potential proxies for lightweight gateways to the network. Becoming a validator is a new opportunity for both hotspot owners and HNT holders to earn additional rewards and help secure and scale this innovative network.

“As one of the most trusted names in the blockchain infrastructure industry, we’re excited to work with Bison Trails to enable HNT holders to run their own validator within the Helium Network,” said Scott Sigel from the Decentralized Wireless Alliance (the Helium Network’s Foundation arm). “This is a critical step in the network’s growth, security, and adoption, and we know they will work with us every step of the way to implement the network’s validator staking process.”