Introduction
Fossil Fuels (coal, oil, petroleum, and natural gas) are originally formed from plants and animals that lived hundreds of millions of years ago and became buried deep beneath the Earth’s surface. These then collectively transformed into the combustible materials that we use today for fuel. Currently, we are (over)dependent on fossil fuels to heat our homes, run our cars, power our offices, industry and manufacturing, and respond to our insatiable desire to power all of our electrical goods. Nearly all of the energy needed to meet our demands, 80% of global energy comes from burning fossil fuels. At the current rate of global energy demands, fossil fuels cannot replenish fast enough to meet these growing needs. The (over)consumption of these non-renewable fuels has been linked to the emission of greenhouse gases and pollutants into the atmosphere – the leading cause of global warming and climate change. It makes one wonder if there is alternatives to burning of fossil fuels?
Well, ELONCITY a new company built on the blockchain focuses on renewable energy which is derived from natural processes (e.g. sunlight and wind). Solar, wind, geothermal, hydropower, bioenergy and ocean power are utilised in the electricity, heating and cooling and transport sectors. Eloncity is using different sources of power through more decentralized and more readily available natural energy.
Eloncity is a decentralized renewable energy ecosystem that comprises of high-performance blockchain technology to enable tracking and distribution of electricity generation sources. The blockchain platform proposes on establishing a community where individuals seeking energy can enhance their collaboration and sharing of energy resources.
Recent Eloncity News After August 10th
The short and sweet is renewable energy is here to stay. $2.9 trillion has been invested since 2004. 2018 welcomed a 29-fold increase in investment in the United Arab Emirates and a 810% investment increase in Mexico.
https://www.weforum.org/agenda/2018/04/head-of-un-environment-solheim-the-markets-have-moved-on-renewables-policy-makers-must-keep-up
https://twitter.com/Eloncity_io/status/1031778483721175040
- Eloncity_io
Dai Zhen United Nations’ Clean Energy Ambassador officially joined the Eloncity team as an advisor. Dai Zhen has profound insight and abundand experience in both the blockchain and energy industries. He is currently an advisor at Echoin, a public energy blockchain company. Dai Zhen’s profound experience and connections in the blockchain and energy sectors will provide strong support for ELONCITY’s international development, promoting an accelerated transformation of the global energy industry.
https://twitter.com/Eloncity_io/status/1032059940498759682
- Eloncity_io
The #Eloncity design includes solar PV panels or local windmill and intelligent networked BESS to maintain electrical service stability, flexibility and energy recovery during interruptions. grid service and emergency events.
https://twitter.com/Eloncity_io/status/1032499437686456339
- Eloncity_io
Billionaire Sanjeev Gupta having Invested on Australia renewable energy, said the investment by his company, SIMEC ZEN Energy, formed part of his firm belief there was a great future for energy-intensive industries through a transition to more renewable energy. The company said the 600 gigawatt hours of generation per year was enough to power 96,000 average homes, with its 780,000 solar panels spread across 11 square kilometres, an area 550 times larger than Adelaide Oval. It would offset 492,000 tonnes of carbon dioxide each year.
http://www.abc.net.au/news/2018-08-15/gupta-launches-1-billion-renewables-program-in-whyalla/10122036
https://twitter.com/Eloncity_io/status/1029596896069865472
- Eloncity_io
ELONCITY is committed to using blockchain technology to revolutionize the electric, renewable energy industry, allowing consumers to utilize renewable energy more conveniently and economically. To keep abreast of recent news and happenings of Eloncity you can follow or rather click on the following social media links of Eloncity for up to date information about the project.
Official Website: http://bit.ly/2IlfdGV
Telegram: http://bit.ly/2rJxy9u
Twitter: http://bit.ly/2wFScx3
Facebook: http://bit.ly/2IkbugH
LinkedIn: http://bit.ly/2KqaLXT
Instagram: http://bit.ly/2IhXgwN
Reddit: http://bit.ly/2IGl0u6
Come vote for ELONCITY on icohub! http://ico-hub.org/icos/24485 , login with your telegram account and hit the "You Upvoted" on Eloncity's voting page. Once you logged in, you will get hub tokens for it as well! #ELONCITY #blockchain #ECT #vote.
Product
Additionally, Eloncity plans to use a Delegated Proof of Stake consensus mechanism. Eloncity’s blockchain will support up to 10,000 TPS (transactions per second) and a smart contract platform for energy exchange among community members. Further, there will be a sort of a mining mechanism that allows users of BESS (battery energy storage systems) that are compliant with the Eloncity Protocol to receive ECT tokens for storing energy. The Eloncity Protocol is aimed to become the underlying software for electricity exchange among a local community. The protocol contains an artificial intelligence powered algorithm to determine locational real-time energy price equilibriums. The protocol is a distributed ledger that records all energy transactions and is verifiable and immutable.
The transition from nuclear and fossil energy to renewable energy is currently underway in many countries in the world. Eloncity provides a solution for this new energy system with the corresponding challenges such as unstable energy production. The mechanisms of the Eloncity system help to flatten peak demands and to reduce energy costs for the network participants.
In Conclusion
The transition from nuclear and fossil energy to renewable energy is currently underway in many countries in the world. Eloncity provides a solution for this new energy system with the corresponding challenges such as unstable energy production. The mechanisms of the Eloncity system help to flatten peak demands and to reduce energy costs for the network participants.
Also,the specific use case of the Eloncity platform in a very fast evolving and prosperous market niche combined with the solid experience of the Eloncity team make this a very interesting project. Community management and marketing is managed well, which increases the likelihood of a successful ICO. Delivering the development milestones as planned in the roadmap and convincing enough local communities to adopt the Eloncity platform will be the crucial challenges that lie ahead in the next years for the Eloncity team and one which they are well equipped to tackle successfully.
Eloncity have ambitious goals which will enable them to set new standards for the energy market. To achieve this goal a strong Team is built with all the necessary skills, talents and long-time experience needed for the project. Most of the team members on Eloncity have verified LinkedIn profiles. This is all good because the more transparency a company have in regard to their team, the more trustworthy they typically are.
This article is just a guide to potential clients, stakeholders and everybody itching for a snip of this wonderful project, The whitepaper will provide an in-depth and thorough analysis of this wonderful project. You can click on the link below and find out more about this wonderful project.
Eloncity Official Website: https://eloncity.io/
Krypital Bounty Group: https://t.me/KrypitalBounty
Eloncity Group: https://t.me/Eloncity
Krypital News: https://t.me/KrypitalNews
MyBitcointalk Profile URL: https://bitcointalk.org/index.php?action=profile;u=2191289