“That incentive model, powered by crypto, actually made sense in this case,” Mr. Mong said.So the company tore up its old business model and settled on a new one. Instead of building its network itself, Helium would make it fully decentralized and let users build it themselves by buying and connecting their own hot spots. Participants would be paid in crypto tokens, and they’d get to vote on proposed ideas for changes to the network. If the price of those tokens rose, they’d make even more money, and set up even more hot spots.The new model, which was released in 2019, worked like a charm. Crypto fans raced to set up Helium hot spots and sta …
