How sustainable is this ‘Proof of Air’ consensus and attractive ROI in Planetwatch? –

You must be ready every time as evolving technology could bring you anything that could be beyond your imagination, take, for instance, most talked proof of air consensus mechanism

If you closely follow the blockchain and crypto industry, you might have heard about Planetwatch, an air quality project based on Algorand blockchain. The project was founded by a former manager at CERN, Claudio Parrinello. Planetwatch has some unique features, including the earning rewards, which are considered to be well ROI, and its mining process. 

Planets, a utility token of the Planetwatch project, provides the facility of transactions related to projects on the blockchain. In many terms, it earns in ways similar to what Helium miners do with HNT. The Helium network uses a proof of coverage mechanism to provide internet of things network connectivity through its HNT token. The network has a market capitalization of more than $2.7 billion, bringing in the top 50 crypto projects worldwide. In comparison, the planet project has only a meager $21 million market cap and ranks; ok, let it be. 

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However, the interesting thing here is it works where it collects air quality data by placing sensors from the surrounding environment and sends the info back to the blockchain. The project’s tokens are meant to be used to redeem air purifiers and eco-friendly products, which can also be traded on crypto exchanges like Bitfinex. The collected data is then shared for specialized dashboards for governmental and corporate users, general consumers, and feeding data for online media outlets. 

The more interesting thing here is that the latest sensors, Planetwatch Type 2, use the Helium network for sending data to the blockchain. It presents an outstanding example of cross-chain projects on blockchain working together for utilities applicable and valuable for the real world. Rumore is also there about the possibility of devices in the future that would be able to mine Helium and Planets tokens both at the same time. 

Currently, the cheapest sensors to mine Planet tokens cost approx €549,00 +VAT (value added tax), and on top of that, an annual license would be costing at €50.00 + VAT per year. These type 3 sensors generate 46 planets per day in the reward that equates to approximately $2,350 every year, as per the current price. When you see the returns, it’s one of the best in the segment, and in case the token price is not even at its all-time high. In November, the token price was at its all-time high of $0.40. However, having such a small market cap makes it hard to say where the project could lead. 

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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