What Is Planet Watch (PLANETS)?
Planet Watch (PLANETS) is a platform with a primary goal to overcome the limitations in air-quality monitoring worldwide. The platform aims to raise awareness through specially designed sensors and a license to operate them. The users then connect the sensors to the Planet Watch network through the mobile app or the website. The users then get rewards for sending data through the sensors in PLANETS tokens.
PLANETS is the token offering of the platform. Planet token works as a fungible utility token and operates on the Algorandblockchain. According to the whitepaper, the Algorand blockchain can handle one thousand transactions in a second and complete transactions within five seconds. The whitepaper also elaborates that the Algorand blockchain does not fork, making transactions final for the consumers. A fungible token is not unique and is divisible. Using the Algorand blockchain, the platform aims to validate the sensor data sent by the users and award PLANETS tokens in return for the data.
The platform also aims to link air sensors associated with Planet Watch with an NFT. So, the users get PLANETS tokens as rewards, and they can convert them into Earth Credits, a requirement set by the platform. With Earth Credits, a non-exchangeable asset on the platform, users can get the products available on the website.
The platform seeks to add multiple uses for the NFTs, such as obtaining digital collectibles with NFTs. Out of the total maximum supply of the PLANETS token, 94.96 percent goes as a reward for air-quality monitoring using sensors. That includes a 0.04 percent data reward for the test phase. The rest, 5 percent, is the initial allocation on Planet Watch. The aim is to use the data collected to devise strategies for developing a healthier lifestyle.
History of Planet Watch (PLANETS)
The core team of Planet Watch comprises Claudio Parrinello, the CEO and founder, and a doctorate holder in theoretical physics. The CTO and founder, Ivan D'Ettorre, has a master’s in telecommunications engineering. The rest of the team consists of Davide Cairo, a data scientist, and Dario Di Lelio, the business development manager. The rest includes individuals specializing in administration, mobile development, and other specialties. The maximum limit for the PLANETS tokens is 4.5 million.
