Helium COO: Centralized IoT Projects Struggle Due to Economics

IconCrypto News Terminal25 Apr, 2024

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Helium COO: Centralized IoT Projects Struggle Due to Economics

Helium's COO, Scott Sigel, has stated that centralized Internet of Things (IoT) projects often struggle financially. In an interview with Blockworks, Sigel explained that building and maintaining a centralized IoT network is expensive, leading to the failure of many centralized IoT companies. Helium, on the other hand, has leveraged a decentralized physical infrastructure (DePIN) architecture to roll out its network quickly and cost-effectively. The Helium network now boasts over 392,090 hotspots worldwide. Sigel also highlighted the importance of community involvement in the choice of blockchain for their infrastructure. Helium's choice of Solana was driven by community vote, as well as the platform's transaction speed and user-friendly interface. Sigel mentioned Hivemapper, a decentralized mapping project, as another notable Solana-based DePIN project to watch. Previously on April 24, 2024: "Helium COO: Centralized IoT Projects Struggle with Economics"

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