Eloncity is partnering with CyberMiles to build its infrastructure on the high-performance CyberMiles public blockchain. And like CyberMiles, Eloncity aims to build a highly optimized virtual machine that is specific to its particular application protocol. In this case, CyberMiles and Eloncity are collaborating to develop a customized Plasma implementation that allows for fast, secure energy trading based on the Eloncity protocol. The goal is to automate much of the verification workload and reduce the complexity of cryptoeconomic games.

Our distinctive approach

Since the CyberMiles blockchain is fully backward compatible with Ethereum, the Plasma design would work on CyberMiles as a scalability solution as well.
For instance

The energy-trading payment transactions can be simply double signed by the buyer and seller, like payments in a state channel.
The price discovery contracts are determined by the supply and demand curve that can be observed and documented by any third party node on the network. It also requires computationally intensive algorithms to process large amounts of real-time data, which is impossible to do on generic Turning-complete virtual machines. CyberMiles’ libENI is designed for this purpose.
The energy trading contracts in Eloncity side chains are all long running contracts that are timer-controlled and settled on the mainnet.

The overall architecture of the Eloncity protocol and network is illustrated as follows.

The Eloncity project aims to build blockchain infrastructure based on the CyberMiles Open Source software. With the innovative Lity programming language and an extensible virtual machine from CyberMiles, Eloncity now is able to incorporate most transaction and contract execution verification work on its side chain directly into the virtual machine. We believe this is a significant step forward from the current Plasma implementations.