The buzz about cryptocurrency is increasing, people have heard about it, and more and more people want to find more about it, and find a way to be a part of it. When blockchain technology came, so many things changed, for better, we say. So many businesses have improved, so many companies have started using crypto currencies in their work. The new ideas are coming every day. People want to invest in the new projects. We have the biggest tool in the world, and it is called the Internet. The internet is a enormous base of information where we can do anything. Internet has connected the entire world. One of these projects is Eloncity, a decentralized renewable energy ecosystem that comprises of high-performance blockchain technology to enable tracking and distribution of electricity generation sources has arrived.
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What exactly is ELONCITY?
Eloncity is a project based on decentralized renewable energy design architecture. It contains a blockchain platform which provides efficient, secure, open recording of energy transactions. The "Eloncity Model", is an approach which is community-centric and support decentralize renewable energy resources to achieve efficient, cost-effective, safe, reliable power supply. Eloncity is the future of power industry.
Furthermore, 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.
ELONCITY is a plan not so new to the worldwide power sector, but its founders want to use Block tech to access the objectives. They plan to develop a centralized power system consisting of tons of micro-networks able of self-sustaining power. Power will produce and allocated throughout the networks around the time. Such a system will straightly compete with existing energy supply systems with absolute clearness of the costing system. Anybody can use the platform for power production for free.
The major goal of the ELONCITY is to solve the world issue, which affects the entire without expectation. The founders of the idea look to replace usual power systems with an infrastructure of power grids, consisting tons of independent micro networks. In this manner, clean energy generated by renewable sources will be avail on a usual basis.
This will reduce the issue of the imbalance of demand and supply for renewable power sources, which is a real topic of the old few years. People entire over the globe face the economic and political challenges of decreasing fossils, as-well-as the issues of producing renewable power.
The developers of ELONCITY invented to apply block tech to solve pressing power issues and advantage entire of the community. The plan can lead to the progress of digitally free power, offering the entire world with affordable and eco-friendly energy.
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.
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 today's 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.
The Main Features
Blockchain-based AI trade system
Smart Energy Storage Systems
Switching DC Power Bus
Direct Current appliances
Proof of Stored Power (PoSp)
A block platform that gives an open, protected power trades in the community. The block platform also allows the ELONCITY community to found an audit able database for tracking sources of power age group within the community, that's GHG free or Non-Fossil Fuel based power.
A smart network battery power storage system deployed on the client premises to harmonize small power supply demand.
Client sited or community-backed renewable age groups, such as Solar Panels coupled with the smart networked battery power storage system that can complete the entire local power demands.
A community DC energy network that applies the renewable DC energy more effectively by minimizing the losses from continues AC to DC to AC conversion.
Community Driven implementation and planning will be enduring success of the community's trade into the sustainable, regenerative power future. Due to the reason that the society and their kids have to live with this power future, it's imperative that the society has lively participatory parts in defining and developing new power future.
Token and ICO Details
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).
Type of token: ERC 20
Symbol of token: ECT
Hard Cap of the project: $33 million
Platform of token: ETH
Payments Accepted Private sale and Public Sale: ETH and BTC
Minimum Investment in the public sale: 0.1 ETH
Maximum investment in the public sale: 3 Eth
Countries which are restricted from Participating: USA, China, New Zealand etc
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.
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Till next time…
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Disclaimer: This article was published in terms of the bounty campaign. I am not a project team member or its representative but a supporter of this incredible project.