Listed on Binance Helium (HNT) sudden rise in altcoin cryptocurrency caught the attention of the market and led him to question the reason for the rise.
HNT, which has been falling continuously for months and is trading at around 96% lower than its all-time high of $55.22, is trading at $2.08 at the time of this writing, up 30% in the last 24 hours.
What’s Behind the Rise of the Helium (HNT) Altcoin?
So what is the event that caused this recent rise in the price of the altcoin? When examined in detail, it is seen that a new update voting has been started in the Helium ecosystem.
According to official information, HNT’s 74th Helium Improvement Proposal (HIP 74) is currently being voted on. Considering that almost all previous HIPs were voted on, this latest development may have had an impact on the price.
HIP 74 is up for a vote within the next 24 hours!
It proposes using ‘Modeled Coverage’ as the new rewards scheme for MOBILE Proof-of-Coverage.
Here’s what you need to know.👇
A 🧵,
— Helium Foundation (@HeliumFndn) December 19, 2022
The developers list the innovations that HIP 74 will bring for the HNT ecosystem as follows:
“Today, 5G CBRS cells are being deployed all over the United States. All hotspots with a signal regardless of quality are rewarded for initiating MOBILE Proof-of-Coverage (PoC). So you just had to be plugged in and providing coverage.
However, the coverage you provided might not be of very high quality. HIP 74 is moving the MOBILE PoC from the Genesis Stage to the so-called “Modelized Coverage” stage.
Modeled Coverage takes into account environmental obstacles and the direction of radios that block the propagation of signals. A public topographic database will be used and a new unit for calculations will be created in Obstruction Data Oracle.”
In short, the distribution system of HNT rewards will change and more HNT will be distributed to users who offer higher quality connections.
*Not investment advice.
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