Planetwatch is an air quality monitoring network hosted on the Algorand blockchain. It uses a unique Proof-of-Air consensus mechanism where miners need to set up sensors that collect and send air quality data to the blockchain. In exchange for setting up these sensors, the network rewards miners with the project’s native token, known as planets.

Planetwatch is a project by a high-tech French start-up with the same name and is the brainchild of Claudio Parrinello, the ex-manager of CERN (The European Organization for Nuclear Research). The project aims to build a global air quality monitoring system that will provide hyperlocal, real-time air quality data.

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According to the project’s website, this data can be used by “specialized dashboards for corporate and governmental users, as well as data feeds for online media outlets.” In the long run, the project will help detect pollution hotspots around the world, thereby protecting the health of millions.

How does it work?

Planetwatch is the first global immutable ledger for historical air quality data, driven by dense, low-cost air quality monitoring networks that deliver real-time information.

The Planetwatch model revolves around 3 major components. The first is the Algorand blockchain on which the project is hosted. The second is an advanced data acquisition software developed at CERN itself. And the last piece of the puzzle: high-performance yet affordable sensors that miners need to purchase and set up to collect air quality data.

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Miners set up these devices in their homes and begin to collect data. The data from all the devices is collated on the blockchain and shared in real-time with consumers. In exchange, miners receive planet tokens that can be redeemed to purchase air purifiers and other eco-friendly products and services. The tokens can also be traded on several exchanges like MEXC, BitMart, Bitfinex, and Tinyman.

Establishing a worldwide presence:

Planetwatch has successful projects in several European cities, including Milan, where it has 76 connected sensors and Taranto, where it has 11. However, in a big step forward, PlanetWatch announced its first large-scale deployment outside of Europe in the city of Miami. The project will become part of Miami’s climate initiative called ‘Miami Forever Climate Ready'.

More on the devices

Planetwatch currently offers three types of air quality monitoring devices – the Airqino (type 1), the Arianna (type 2) and the Sensedge Mini (type 3). The most affordable one, the Sensedge Mini, costs around $609 and requires an annual license that starts at $55 per year.

Once it is up and running, this sensor provides mining rewards of 46 Planets per day. At the time of writing, the Planet token’s valuation stood at $0.1332. Therefore, yearly earnings with the Sensedge Mini would amount to around $2,253.

This presents a lucrative revenue model, especially given that the project is still in its infancy and the current valuation is way below its November 21 all-time high of $0.40. However, as the network’s popularity grows and more miners come on board, the daily reward could decrease.

Similarities and partnership with the Helium Network

The Planetwatch project bears resemblance to the Helium Network that runs a Proof-of-Coverage model. Here, instead of air quality monitoring devices, miners set up low-cost hotspot devices to provide wireless network coverage, allowing all compatible devices to connect to the internet.

In exchange for setting up these devices, miners receive rewards in the form of HNT tokens, which is the native cryptocurrency of the Helium Network.

The latest Planetwatch Type 2 sensors even use Helium’s wireless network to send data to the blockchain. This unique cross-chain partnership could go even further in the future with next-gen devices rumoured to mine both HNT and Planets at once.

Tokenomics

As mentioned earlier, the price of the Planet token stood at $0.1332 at the time of writing, with an all-time high of $0.40 in November 2021. The current global market cap stands at $20 million, with a daily trading volume of $423,758. In comparison, Helium was at $24.04, with a market cap of over $2.7 billion and a daily trading volume of $41 million.

(Edited by : Abhishek Jha)