Introduction to Eloncity:
Eloncity is the first global platform which is going to decentralize the the traditional power infrastructure into self-sufficient millions of microgrids. A transparent energy price will be offered to all the users. The local produced energy will be available to utilities for 24 hours through out the year. People can use the clean energy to electrify the world. The open technology offered by Eloncity is the best way to make the electricity virtually free.
What are the problems in traditional power generating system?
- Problem of Safety and reability: In the traditional power generating system, human or natural induced accidents cause serious loss at any vulnerable point which is located on the complex centralized power grid and it affect badly the large geographical area. So, the traditional power grid cannot give the gurantee of realiable and safe energy service. In 2011, more than 7 million residents of California had faced the problem of blackout due to power grid failure. While power grid vulnerabilities in previous system become the cause of some major incidents.
- Health and environmental problems: The nuclear accident, gas leakage or centralized grid accidents at the traditional power generation sites release airborne radioactive particles, particulate matter or toxic gas which affect the health of the local residents. It also causes severe environmental problems.
- Resilience and adaptability: In future it is expected due to the increase in ambient temperature, the electricity generation and transmission will be further decreased and blackout will be caused by the supply shortage and power network failure.
- Costly electricity: The cost of the electricity is increasing due to the inefficient centralized design of the AC power grid.
What are the solutions provided by Eloncity?
Due to the challenges of population growth, natural disasters and climate change, new approach for the energy distribution and generation is needed. To deal with the problems present in the traditional system, a non-profit organization of Singapore AI grid foundation wants to introduced a decentralized renewable energy system. The local renewable energy sources like wind and solar power will be used to produce the electricity for local consumption. The cost effective and reliable energy supply will be provided due to the community coordination for energy exchange and energy equipment sharing.
What are the benefits of using Eloncity?
- Efficient and unified energy marketplace: An open market will be created by Eloncity token which will allow the community to get the global renewable energy solutions and products by resource sharing and energy exchange locally.
- Greater reliability: Through the decentralized energy system, Eloncity is offering amazing energy service. This design will increase the ability to adapt, absorb, anticipate and rapidly recover from the blackout or disruptive events.
- Lower cost: Eloncity is going to introduced such a effective design which will lower the energy expenditures of the community. The energy expenditure will be saved with the combination of renewable local energy, local grid network in each community and centralized grid energy purchasing.
- Social benefits: The renewable clean energy will be provided to the community with the use of community based renewable microgrid (CRM). CRM also ensure the community safety and energy security in case of emergency and disaster events.
- Adaptation: By using Eloncity decentralized energy infrastructure, better energy resilience and security will be provided to the community to deal with the potential climate or human induced disasters. Eloncity is using intelligent network BESS to redundant and decentralized the local renewable energy generations.
- Economic development: Energy will be supplied by eloncity for local consumption which will support the local economy by decreasing the significant energy expenditures.
- Environment and Health benefits: With the GHG emission reduction and increased safety, Eloncity will increase the energy storage, decentralized renewable energy generation, targeted energy efficiency retrofits.
What are the features of Eloncity?
- Trading system based upon AI algorithm and blockchain: The trading of energy is transparent due to the blockchain based trade system while fair market prices can be found due to the AI algorithm.
- Smart energy storage systems: With the supply of local renewable energy, all the demands are balanced by the energy storage system based on IOT technologies.
- Switching DC power bus: The peak load will be removed permanently with the advance last mile network.
- Proof of stored power: The ESS investment becomes a grade financial property due to the new mining scheme.
- Direct current appliance: The traditional repetitive power conversion will be eliminated with the improvement in the production of local competitive renewable energy, with this new appliance operated on DC.
Which token is used by this platform?
Eloncity is using ECT utility token for the energy exchange facility. The functions of Eloncity token:
- Exchange medium: ECT will be used for energy exchange on the Eloncity network. The consumers can get ECT token by offering their surplus energy to the network’s peers. The ECT token can be used by the community members to get local ECTP products and electricity services.
- A store of value: Sufficient ECT is needed to reserve by the ECTP compliant BESS device which is equal to the electricity capacity value to participate in automated exchange. The value of the ECT will be depend upon the velocity of ECT transactions and ecosystem energy transaction volume.
- Total supply: 1,000,000,000 ECT
- Token name: ECT
- Token for private contribution: 320,000,000 ECT.
Eloncity is a model of constructing, planning and operating community based renewable microgrid which is bringing a revolution in the traditional energy production system. Its decentralized renewable energy system consists of crypto utility token, blockchain technology, community or customer sited renewable energy generators and DC appliances. If you are interested in future oriented ideas of cryptocurrency then visit its site for more detail.
Links to Eloncity:
- Website: https://eloncity.io/
- Whitepaper: https://drive.google.com/file/d/1dkUNgo1_m4X4gf96rfnwEIN-W4P5HB9c/view
- Facebook: https://www.facebook.com/Eloncity-229599404279234/?modal=admin_todo_tour
- Twitter: https://twitter.com/Eloncity_io
- Krypital Bounty Group: https://t.me/KrypitalBounty
- Eloncity Group: https://t.me/Eloncity
- Krypital News: https://t.me/KrypitalNews
Author Profile: Hobo66