ICO market is nowadays pretty similar to the Wild West during the gold rush period. It is possible to earn money very quickly, sometimes even good money, but you have to find a perfect spot, or in this case, a good project to invest. Common thing to the Wild West? No guaranties and almost no law. It is pretty easy to find bad cowboys which are going to promise you golden mountains to steal your last piece of bread. So in all this mess, if you want to find your gold nugget, you can trust just your own brain composites.
After my research, I found this project in which I really put my faith: ELONCITY. Very likely you haven’t heard about them, project is made by great team members. Nevertheless, guys have an advantage, many other teams does not: already existing product made on a very perspective field. But these are not all pluses I found in this project. Below you can read the analysis and decide on your own, do you want to send some pennies to the pot.
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. Eloncity with use of ECT token will help communities as well as the individuals and companies within them to invest in energy efficient facilities and equipments that will save them energy and cost and also help in the generation of renewable energy for their use.
As of today, most of the energy we use is coming from electric grids. Although the past few years have been led with great innovations, the energy sector is lacking a bit behind. Existing energy grids are namely build on an aging design with a centralized grid architecture. Centralized power grids are facing more and more challenges regarding safety, reliability, security and increasing costs.
SOLUTION ELONCITY OFFERS
The Eloncity project is going to face those problems using the blockchain technology. Eloncity is trying to build up a decentralized energy design architecture with millions of self sufficient microgrids. By doing so, energy will be available at any time with the highest security standards and a way higher reliability than todays energy network. Through the blockchain technology furthermore Eloncity will use those advantages such as having full price transparency, which is nowadays mostly not given by the providers. Everyone who uses Eloncity and contributes to it, will make electricity virtually free, so the world can be power up with clean energy.
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.
FEATURES OF ELONCITY
Blockchain-based AI trade system:
By combining AI algorithm and blockchain, Eloncity with help of token hopes to establish a transparent and fair energy market with real-time prices as reference
Smart Energy Storage Systems:
The Energy storage system will work with the IoT technologies to help balance the demand and supply of the produced renewable energy
Switching DC Power Bus:
With the energy production and distribution, there is need to control the energy peaks, and the Switching DC Power helps remove typical peak load permanently.
Direct Current appliances:
Eloncity with help of token will accommodate the use of DC-driven devices to eliminate the use of repetitive power conversion and enhance the competitiveness of the produced renewable energy.
Proof of Stored Power (PoSp):
Eloncity will incorporate a Proof of Stored Power protocol, which is a new mining scheme to make ESS investment grade financial entities.
The ECT is a utility token designed to facilitate energy exchange within an Eloncity microgrid and among adjacent Eloncity microgrids. Eloncity aims to make the ECT token the means of payment of an internationally unified renewable energy marketplace that connects various local communities with each other. The Eloncity Token (ECT) enables energy exchange on an Eloncity microgrid that is compatible with the Eloncity Token Protocol. Supplying and consuming energy on the Eloncity network is paid in ECT tokens. The total market capitalization of the ECT token will reflect the value of the electricity that is traded on the network. Eloncity estimates that the market capitalization of the ECT token could reach 560 million USD in 2040, expressed in 2018 USD values (correcting for the future inflation rate of the USD).
STORE OF VALUE
Each ECTP-compliant device needs to reserve sufficient ECTs that is equivalent to the value of its electricity capacity to participate in the automated exchange. That makes the ECT a store of value backed by the value of electricity. The value of each ECT is determined by the total energy transaction volume of the ecosystem, and the velocity of the ECT transactions. Due to the exchange reserve requirements, there is a limit for the monetary Eloncity, which creates value for the ECT and produces a stable token system.
MEDIUM OF EXCHANGE
On the Eloncity networks, the ECT is used for energy exchange. The consumers earn ECTs by providing their surplus energy to peers on the networks. The community member uses ECT to access local electricity services and ECTP-compliant products.
The private sale has started, which you have to register through our website:https://eloncity.io to be considered.
ROADMAP AND DEVELOPMENT PERSPECTIVE
Above you can see the roadmap — how the team sees their nearest and long-term future.
TEAM MEMBERS AND ADVISORY MEMBERS TO THE PROJECT
Team seems to be the strongest part of this project. It consists of innovative and talented people. Of course I cannot complain if we talk about their professional level, guys indeed are experts on their field. We are not just a company founded solely for ICO.
''Recent news'' about the project
Do you know why are we paying more for transmission & distribution charges than for electricity itself? For more information about this, check it out here: http://bit.ly/2wv00OU
Eloncity with use of ECT token will help communities as well as the individuals and companies within them to invest in energy efficient facilities and equipments that will save them energy and cost and also help in the generation of renewable energy for their use.
This is a tremendous and unique project, which is here to stay. Be a part of this project and follow these links for more information;