if i say that Electricity is one of the major inventions on which our life is fully dependent no one can deny this fact . And for sure we can not think our life without this .Electricity is transferred from one location to another through an unique transmission system known as the power grid It is basically a network of synchronized power providers and consumers that are connected by transmission and distribution lines and operated by one or more control centers. These have the capability to respond quickly to the shifting demand and must continuously generate and route electricity to where it is needed.
The ELONCITY aims to decentralize the present electric infrastructure to millions of self-sufficient micro power systems. The cost of electric energy becomes clear to everyone. Everyone will be capable to create electricity virtually free and extremely affordable around the Globe.
Problem associated with Modern Platform :
The current power grids are the gems of the modern time but they are built on a design that is outdated. And that's why facing major challenges in providing a safe, reliable, secure and affordable energy service.
Other drawbacks of these old designed grids are :
- Environmental and Public Health Problems.
- Safety and Reliability Problems.
- Adaptability and Resilience.
- Unaffordable Electricity Cost.
Solution offered by ELONCITY :
ELONCITY is a decentralized ecosystem which wants to enable tracking and distribution of renewable energy generation sources. The platform will use blockchain technology to serve its purpose. They plan to develop a community where an individual can enhance their collaboration and sharing of energy.
ELONCITY plans to use AI and blockchain to develop a fair and transparent energy market which can handle real-time pricing. They will also work on IOT based energy storage system to balance out the demand and supply. The company will also remove the need for repetitive power conversion which will enhance the efficiency of the process.
ELONCITY promises to lower the expenditure in energy production and distribution by combining local grid networks, appliances and by decreasing energy loses. They also aim at producing renewable energy rather than relying on the use of fossil fuel for generation of electricity. This will also help maintain a balance in the ecosystem.
Technology Overview of ELONCITY :
Eloncity has developed its own Architecture of energy distribution which they called as Elonicity Decentralized Energy Architecture(EDEA)which is an ecosystem of decentralization technologies and crypto economic tools to enable the shared regenerative energy economy. The modular design facilitates tailored deployment of Eloncity microgrid for diverse communities around the world.
and to do so they are using Eloncity microgrid which will be a shared resources in an Eloncity microgrid would be locally generated renewable energy, and the equipment such as BESS, PV arrays, small wind turbines, electric vehicles, DCbus Schedulers and other decentralized renewable energy assets.
Eloncity Token Protocol (ECTP) :
The ECTP is based on blockchain technology to create a highly efficient and trusted community-based electricity exchange platform. It also specifies hardware devices and power network requirements for peer devices to exchange electricity on the blockchain platform. The core of this protocol is an AI-based algorithm that determines locational real-time energy price equilibrium at any point on a local energy network. This protocol recognizes that the energy supply-demand condition on one street is not necessarily the same condition for another street in a microgrid. Therefore, the value of electricity at any given moment at different locations on a microgrid would be different.
The ELONCITY Token(ECT) is a utility token designed to facilitate energy exchange within an Eloncity microgrid (i.e., ECTPcompliant microgrid) and among adjacent Eloncity microgrids. The ECT will have two primary functions:
- A medium of exchange.
- A store of value.
The team working on this project comprises of individuals who are experts in management, engineering, and architecture. Their aim is to see a future in which energy is safer, cleaner, more profitable, and easily accessible to all.
Advantages of Eloncity :
Eloncity is a platform for open and secured distributed ledger for efficient recording of the transaction of energy services in the community. All the transactions in the platforms are unchangeable and verifiable.
- It facilitates an open market by enabling communities to the world to exchange and provides global renewable energy products and solutions.
- It offers very low cost for energy, it is achieved by combination of Local DC grid network within each community, large appliances powered by DC electricity Generate renewable energy, flatten peak energy demands to minimize costly demand capacity charges, purchase centralized grid energy only during the period of lower cost and by providing necessary services to the centralized grid to generate revenues.
- Its renewable energy sources decrease the risks of fuel based energy most often fuel based energy sources are cause of risks like fire explosion, gas explosion
Green hose Gas (GHG)emissions reduction - It replaces fuel based energy with renewable energy sources and limited the usage of fuel Peaker plants energy through flatten peak demands
ICO Details :
ELONCITY Will be an ERC20 token which is created on Ethereum blockchain. The company has released a total of 1 billion ECT tokens out of which only 32% will be available for the sale. ELONCITY will organize the token sale in Q3 this year. The tokens will be sold at a rate of 1 ECT token= $0.12 USD. However, we need to be aware of the fact that the company will only accept Ether as a mode of payment for the token.
Eloncity team :
Andy Li (Andy Li) - Founder. Also Chief Executive Officer / CTO Pomcube and former CEO of ChinaCache. Employee of Alibaba in the first DC datacenter in China (2010). The creator of many major Internet networks in Asia / USA. The world's first publicly available energy router for home and small / medium business.
Justin Wang is the founder. Lead developer Ican, NetZero. It is an architect, Modular Data Center, Smart3Technology, Sr. ME, Emerson Network Power, Xian, China.
Allen Ding ( founder of Allen Ding) . Nine years of experience in the design of electronics. Expert in the design of magnetic devices, energy topology, BSME University of Southern China.
Haichuan Zhiang is the founder. More than ten years of experience in technical work in testing systems. The head of the team is the project of cloud energy storage.
Dunping Yao is the founder. Six years of experience in the design of BMS equipment. Researcher at Tsinghua University in the field of charging technology VRB. Master of Science in Automated Technology from the University of Southern China.
Gregary Liu (Gregary Liu) - established. More than 11 years of work in the field of server architecture, the developer of the product. He studied business administration at the University of Hsinchu. Degree B5 in physics in Nanyang Technological University.
Peng Xu is the founder. More than ten years of experience in software development, design and data analysis. Developer Netzero. Developer Pomcube web service systems. Developed and supported Foxconn e-commerce website.
Michael Nguyen is the founder. Director CommunaLife. The inventor who has 17 patents and 4 awards for diligence in technological innovation. Seven years of experience in California energy programs and strategies. He worked with the California Energy Commission and the Public Benefit Commission.
Conclusion :
Eloncity can solve several problems of mankind related to the distribution and stable extraction of energy. this will start a new era of renewable energy trading which will affect the global economy. On the other hand, the improvement of the environment and self-sufficiency in electricity, on the other - the reduction of jobs, the redefinition of plants. This transition is possible, we are waiting for development and implementation.
For More Information :
- Official website: https://eloncity.io/
- Whitepaper: https://eloncity.io/download/Eloncity_WhitePaper_V0.87_20180626_Final_Release.pdf
- Twitter: https://twitter.com/Eloncity_io
- Facebook: https://www.facebook.com/Eloncity-229599404279234/
- Reddit: https://www.reddit.com/r/Eloncity/
- Instagram: https://www.instagram.com/eloncity_io/
- LinkedIn: https://www.linkedin.com/company/eloncity/
- Telegram: https://t.me/Eloncity
- Krypital Bounty Group: https://t.me/KrypitalBounty
- Eloncity Group: https://t.me/Eloncity
- Krypital News: https://t.me/KrypitalNews
My unique identification link : https://eloncity.io/?utm_source=Content&utm_medium=Bounty&utm_campaign=B000334
Author: Raghav
Bitcointalk: https://bitcointalk.org/index.php?action=profile;u=2235966