Is Helium's New '5G Network' Just Hot Air?
Helium, the buzzy crypto-fueled shared wireless network that pays people to host hotspots, has been caught overstating its partnerships over the past few days. After Mashable discovered bikeshare provider Lime disclaiming involvement(Opens in a new window) with Helium and The Verge got Salesforce to say "Helium is not a Salesforce partner(Opens in a new window)," PCMag can reveal now that none of the equipment sold as "Helium 5G" at the moment involves any of the common understanding of 5G.
The "Helium 5G" network is instead a 4G LTE CBRS network, which right now has significant advantages over 5G but doesn't have the "5G" moniker Helium and its partners wanted for marketing. So it's just calling it 5G because, apparently, anyone can use any word to mean anything.
Helium advertises its "5G" network prominently on its website by saying that "Helium 5G is here—the second major wireless network supported by the Helium blockchain." Its partners include two carriers, Dish and GigSky, as well as five hardware providers—FreedomFi, Baicells, MosoLabs, CalChip, and Bobcat.
The play works like this: You buy a FreedomFi "gateway" box and a small cell. You plug the gateway box into your own wired internet. You then earn a crypto token called "mobile" for providing proof of coverage, along with more crypto for data transfers on your cell at a later date(Opens in a new window). The "mobile" token converts to Helium's HNT token, which is tradeable on crypto exchanges. Then, Helium rents out the network to other cellular providers, whose customers would be able to use it to fill in gaps in coverage.
It's not a bad idea. Stephen Leotis, cofounder of MosoLabs, which makes small cells for the Helium network, says the crypto scheme lets
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