December 12, 2023

Wingbits joins the peaqosystem

peaq

Community

What’s happening?

‍Wingbits, a DePIN of flight-tracker antennas, joins the peaqosystem to help the community crowdsource live flight data and earn rewards on the peaq network.

‍Why is it important?

Wingbits enables people to set up antennas to collect and monetize the location data broadcast by planes, contributing to its a people-powered map of aerial traffic.

What does it mean for the community?‍

By bringing its network of hundreds of antennas on peaq, Wingbits will generate more on-chain activity and more value for the entire community.

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Wingbits takes DePIN to new heights with decentralized flight data

It’s vital to know where aircraft fly, not just to keep up with world-traveling loved ones in the air, but for coherent data collection that helps improve aerial operations. Precise detection of an aircraft’s location, latitude, and longitude will help prevent and reduce accidents while also reducing the need for human interference, lightening the workload for pilots in the cockpit.

This kind of real-time tracking offers crucial data to keep our skies safe, but it’s also a lucrative market. As of 2023, the flight tracking system market is valued at $456.6 million. By 2032, the market is predicted to reach a $780 million valuation, an impressive 5.5% annual growth rate.

Sounds like a good opportunity, right? Thanks to Wingbits, a decentralized physical infrastructure network (DePIN) of flight-tracker antennas, anyone can become a part of this growing market.

Wingbits incentivizes people to set up their own ultra high-frequency antennas and earn tokens for collecting the location data that planes broadcast during flight. The process leverages the Automatic Dependent Surveillance-Broadcast (ADS-B) technology, which has emerged as an alternative to radars for tracking flights. The collected data powers the DePIN’s sky map to help improve airport and airline operations, enhance aviation insurance, help researchers, and more.

“peaq’s vast array of DePIN-specific functions make it a perfect home for token-incentivized networks. We are excited to be joining this bustling ecosystem as we foster a network providing crucial data for passenger and cargo flight services. ADS-B data grows more important by the day, and with Wingbits, anyone can become a stakeholder in this important sector.”

– Alex Lungu, co-founder and CTO at Wingbits

Wingbits will utilize peaq IDs as the identity mechanism for the antennas joining the network, and will also use peaq to enable shared ownership over specific hexes on its world map. Shares in these hexes will be represented by NFTs, which people will be able to buy to boost their rewards. Additionally, Wingbits will use peaq’s reward pallet to distribute the rewards among hex owners based on how much data they have provided.

“Wingbits takes Web3 to the sky. ts DePIN will enable a new generation of flight-oriented apps, services, and platforms leveraging community-sourced flight data. It’s an innovative and forward-thinking project that brings a lot of value to the ecosystem.”

– Till Wendler, co-founder of peaq

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