Hello there, everyone! It's another day and I'm here presenting to you another truly great project named Eloncity which is trying to decentralize our power infrastructure into millions of self-sufficient microgrids. It's impossible for us to consider our lives without electricity. Everywhere we live or go, everything we do needs electricity. We can not live without consuming electricity. Everything requires stable operation of the power plants. Technological progress around us is gaining momentum, inventing new devices, products to provide our lives better and easy. Electricity generation is handled by the centralized suppliers. This inflates prices, harms the environment, and threatens with interruptions in the supply of electricity. And to stop this centralization of electricity generation markets - Eloncity has come forth with its own way to reduce the cost of electricity. The market was developing in its own way until the project Eloncity appeared. As from reading Eloncity's whitepaper it can be said that people might be using ELONCITY’s open technologies to make electricity virtually free so that the whole world can be electrified!
Technology overview:
Eloncity Decentralized Energy Architecture (EDEA) combining decentralized model and crypto-economic tools. The system is modular, which provides the ability to utilize it anywhere in the world. Optimal configuration of the system is a scheme, which provides customers with direct current within a one-mile radius. DCBus Scheduler is used to manage energy flows, and solar batteries, wind turbines, battery energy storage system (BESS), electric automobiles are utilized for electricity generation.
This will eliminate the problem of the imbalance of supply and demand for renewable energy sources, which is an actual topic of the past few years. People all over the world face the political and economic challenges of reducing fossil fuels, as well as the problems of producing renewable energy.
The creators of Eloncity project intend to use blockchain technology to solve pressing energy problems and benefit all of humanity. The team will try to make energy price becomes transparent and affordable to everyone. The project can lead to the development of virtually free electricity, providing the whole world with affordable and environmentally friendly energy. Eloncity's goal is to solve the universal problem that affects everyone and through this clean energy can also be provided for the humanity. The creation of Micro energy production sites like Rooftop solar, coupled with intelligent networked battery energy storage systems, installed on user premises millions of “micro grids”. A unified ecosystem is provided with these “micro -rids” along with blockchain based smart contracts and performance-based micro-financing.
The #Eloncity based on the blockchain technology will act as an open accounting of electricity exchange. ECTP is an advanced Ethereum blockchain with a high rate of transactions and the ability to transfer large amounts of data. The Eloncity social network, supply and demand balance, cost will be optimized in real time because it is going to be implemented on the AI technology. The existing supply grid takes into account daily data for demand planning, which leads to the creation of the inefficient system requiring high costs of the maintenance of reserve capacities.
The Eloncity microgrids will use the sensor network monitoring generation and consumption of electricity in real time. The created algorithm of AI predicts the elasticity of generation and demand. It is necessary for determination of fair local energy price and issue of signals to BESS about suitable further actions: energy import or export. Thus, dynamic price formation is an effective tool because suppliers will sell electricity at the highest price, while customers will increase consumption when electricity price is the lowest. The figure below shows that there is an equilibrium price balanced at any point in time in a given network.
Decentralized Energy Storage:
Solar panels, wind turbines cannot provide reliable and uninterrupted power supply, which is why accumulators are necessary. BESS is managed by DCbus Scheduler and connects them with the blockchain, exchange platform, real-time price formation of Eloncity ecosystem.
Let's say, there is a lack of local energy supply then this BESS can import this from outside, specially from a decentralized grid. In periods of peak consumption, the system will discharge to maintain energy import, and in periods of low demand, it will accumulate energy. This will allow flattening peak consumption and keeping prices acceptable for consumers.
According to the whitepaper, at the moment the company offers two systems of accumulators: i) BESS for customers runs at 358,4 Vdc - 428,8 Vdc; ii) BESS for suppliers - Baseload Service Providers - operates in the range of 1200 Vdc.
Such a scheme will let reduce losses when converting DC/AC. The company offers some ECT tokens to the customers who bought BESS.
To maximize the service life of devices there are three types of protection:
against overcharging;
against over-discharging;
against short circuit.
Development team:
The development of the idea is the company Aigrid Foundation LTD. The founder of the project is computer researcher Alibaba Cloud Andy Lee. During 12 years of working in the United States at Cisco, he developed a deep knowledge of the methods of information exchange and conducted extensive research in the field of intelligent network access. In 2014, he founded POMCube, a company specializing in the development of high-performance energy storage systems, driven by cloud computing technologies. This team has launched an ICO to raise money for their project's development.
Token Details
• The tоtаl amount оf ECT: 1 bіllіоn ECT.
• Ticker: ECT
• Platform: Ethereum
• Token type: ERC20
• Accepts: ETH
• Token supply: 1,000,000
• Amount for sale: 32%
• Conversion rate: 1 ECT= $0.12
• Soft cap: $10,000,000
• Hard cap- $33,000,000
Conclusion:
Challenging already a huge market of energy suppliers and big farms where electricity is generated will be a huge task but Eloncity still wants to go ahead with their idea so they the can dесеntrаlіzе thе сurrеnt еnеrgу structure into millions of ѕеlf-ѕuffісіеnt renewable еnеrgу “mісrоgrіdѕ” which can be available all the time. They are going to improve the solution in this field because it is focused not only on individual consumers but also on the community. Moreover, it connects both solar panels and wind turbines with BESS. Eloncity's implementation of their vision and ideas on blockchain technology will be providing the most basic advantages of blockchain tech which is transparency, without the middleman and continuous supply of energy throught the world. This is going to take a lot of time to establish all the visions because this is such a huge project, but thankfully the team has managed to attract some very big investors and partnership deals. So I'll be watching their progress closely. This project is something that can help us all. So fingers crossed that their technical and engineer team are able to make everything success.
For more information, you can visit Eloncity's official site and read their whitepaper., learn about the team. If you want to be a part of this mega revolution in this sector then you can buy their tokens from their site. The links can be found below.
Website: http://www.eloncity.io
Eloncity Whitepaper: https://eloncity.io/download/whitepaper-20180717update.pdf
Announcement: https://bitcointalk.org/index.php?topic=4465922
Telegram Group: https://t.me/Eloncity
Medium: https://medium.com/eloncity
Krypital Bounty Group: https://t.me/KrypitalBounty
Krypital News: https://t.me/KrypitalNews
Facebook: https://www.facebook.com/Eloncity
Twitter: https://twitter.com/Eloncity_io
Reddit: https://www.reddit.com/r/Eloncity/
My unique identification link: http://eloncity.io/?utm_source=Content&utm_medium=Bounty&utm_campaign=B000622
Bitcointalk Username: invincible49
Bitcointalk : https://bitcointalk.org/index.php?action=profile;u=1215448
Author's Linkedin Profile: https://www.linkedin.com/in/invincible49