Eloncity ( ECT ) – Key Features of the Project and Its Future

imbitz (32)in #cryptocurrency • 6 years ago

The whole modern world depends on the electricity supplied by global electricity networks. But models of old technologies are coming to an end. Having many problems, they do not combine with the needs and preferences of modernity. In the struggle for the ecological cleanliness of our planet, the world community calls for a transition to new alternative energy sources that do not have the risks of creating another catastrophe of global proportions. Also, key issues include instability and lack of adaptability of old models. Climate, failures, overload on the system, etc. often leave hundreds and thousands of houses without the possibility of the normal functioning. The issue of prices for electric grid services is particularly scrupulous for residents of all countries and countries without exception. The reason for this is technical characteristics such as: loss of performance during transmission, provision of support services, excess capacity to maintain networks at peak times. All these examples are only a small part of the global problems of the global electricity sector

A new future with Eloncity

The AI Grid Foundation, in cooperation with international organizations and local communities, has created a model for a safe and fair future of energy - Eloncity.It is a decentralized electricity exchange system based on Blockchain technology. Its essence is the breakdown of the energy infrastructure into millions of the self-sufficient parts that produce open and accessible trade. Simply put, you as the owner of equipment2 for the generation of alternative energy, will be able to openly and safely sell surplus resources on the trading floor, inside the Eloncity network. At the same time, for consumers, a huge space of suppliers opens up, with absolute competitiveness in front of public utilities. Transparency of pricing and availability of such a method gives a confident basis for the relationship of the future energy sector

Future Benefits

Open source and secure

the blockchain protocol of the Eloncity protocol works in an open and secure registry to record and track energy service transactions.

Reliability

greater reliability is achieved thanks to the use of Eloncity, since a decentralized energy structure maintains an internal design that allows the platform to anticipate, adapt, absorb or restore possible scenarios. destroyer

Cost reduction

Eloncity's energy model reduces energy costs for its employees through the integration of networks, equipment and repairs in distribution centers to reduce consumption or energy loss.

A well-organized energy market

The use of Eloncity markers for open markets allows the platform to allow users to introduce a network for global solutions in the field of renewable energy sources.

Reduction of emissions

Eloncitas also reduces greenhouse gas emissions by replacing or limiting the use of fossil-based electricity generation and reducing energy consumption.

How technology works

The developers propose to carry out a kind of mining, allowing neighbors to use surplus energy, and receiving in return money through the network's assets. The Eloncity architecture, built on the use of microgrids (points of energy resources within a radius of 1 mile), interacting through Blockchain. The platform operates on the protocol exchange of tokens Eloncity - ECTP. On the block chain, an original open and accessible accounting report will be maintained. ECTP - this is augmented and customized for the sphere technology Ethereum. It has the capabilities of high-speed bandwidth transactions. Her smart contract determines the best conditions for the sale and purchase of resources. In a combination of artificial intelligence and social networking data, the system will give an opportunity in real time to receive the multifaceted information about the state of prices in the market and many other things, which in turn will help to form your own proposal. The mutual use of such technological tools should lead to the following desired mechanism
AI predicts market needs and offers and creates fair prices for electricity
The system writes off the required resources from the reserves of the BESS battery
All these actions are performed automatically by the system in real time
This approach has an unusually productive logic of interaction. So for example, when the price falls - manufacturers will increase their storage capacity, and consumers, in turn, will intensify the purchasing market. In such dynamics, the formation of prices will achieve the maximum balance and fairness of prices between both parties.

Key Features of the Platform

The ECTP protocol predetermines some rules and mechanisms for the correct operation of the network. To implement it, you need some hardware and software. The mechanism of interaction will include the following elements:

The core of ECTP is a basic platform for the exchange of electricity in the Blockchain network. There will be a high transaction speed that will increase its productivity.

DPoS (Delegated Proof of a Share) is a technological tool that will ensure the fair execution of the terms of an exchange transaction.

Smart contracts - provide optimized solutions based on processed data in real time. Will be in the automatic mode to supervise and build the most favorable conditions for energy exchange.

The mining mechanism is for rewarding users using the ECTP protocol in conjunction with BESS for the storage of renewable energy sources.

Project implementation

In connection with the global nature of the Eloncity idea and the scale of the desired reincarnation of the energy sector, the team needs to announce its new vision and complete the construction of an effective network. To do this, Eloncity conducts an ICO campaign.
Its goal will be to collect soft-cap funds in the amount of $ 10 million or the maximum goal - hard-cap in $ 33 million. Supervises this company has already earned respect and trust the organization Krypital, which has released such products as Egretia, Merculet, CyberMiles ... which have successfully carried out their ico campaigns and have already grown in price several times. And this means that Eloncity will not be an exception and will prospectively enter the market of the block industry of the industry. Under the leadership of Krypital, the project will actively develop and advance within the framework of the planned course.

Tokens

Inside the network Eloncity will operate tokens, the ERC-20 standard called ECT. Their function is to facilitate the exchange of electricity between users, and also to become a single currency for the operation of the network.

They perform two main tasks:

They are the main unit in the medium of exchange. Community members provide ECT, for access to electricity networks, the same in turn sell products earning ECT tokens.
Provide the value of the repository, by reserving a certain number of tokens for each BESS device. The number of such tokens is equivalent to the cost of production capacity. This will create a peculiar value of networks for the possibility of their automatic exchange

The Conclusion

The need for revolutionary changes in world resources for alternative renewable sources has long required an effective global solution. And its implementation will become public domain and the public will positively adhere. The ecosystem of Eloncity will create a healthy and independent society, where everyone can make good use of the benefits of humanity, without violating the ecology of our planet. Reducing costs in turn will give new power and opportunities for technological progress entirely