New energy industry - Eloncity

treasurek (32)in #blockchain • 6 years ago

It is difficult to imagine a world without electricity. Once it was not there at all, but now people's lives depend on it. It is not a secret for anyone that today the world electric power industry is centralized. This means a monopoly and lack of competition. It follows that the consumer pays as much as the manufacturer decides. I wonder how this price will change if everyone can electric power, that is, independently produce electricity and sell? This could completely reverse the view on the electricity market and make electricity almost free of charge with today's cost. The idea of such a decentralization of electricity production lies at the heart of the Eloncity project. Its founder Andy Lee intends to transform the modern multi-billion electricity market through Blockchain. Eloncity is one of the favorites in the modern arena of ICO projects.

Eloncity

Eloncity is a system of decentralized production and storage of electricity. It is a network of microgrids, - mini-power stations that run on solar batteries and interact with each other through the Blochein. The work of the Eloncity network will involve artificial intelligence and machine learning to regulate supply and demand for energy between producers and consumers.

Manufacturers can act, as organizations, and ordinary people. Due to the absence of the above losses, which are present in traditional methods of energy production, and support in the form of subsidized state programs, this will be a profitable business for producers. Also, users themselves will be able to sell surplus energy for ECT tokens, which can be converted into any other currency. In the token exchange Eloncity, the price of electricity is set at 16 ECT per megawatt.

Team and Advisors

Andy Lee is the founder of Eloncity. He has a technical background in computer engineering and previously worked as a technical director for POMCube and ChinaCache among other technical roles.

Michael Nguyen is the vice president of Eloncity and is responsible for developing the program. He has more than 30 years of professional experience in various industries and has 17 patents.

The main Eloncity team consists of 8 people, including Andy Lee and Michael Nguyen. The team has experience in software development, power design, cloud computing and hardware design.

The advisors of Elconity are Brian Allen, Chris Wally, Ensol Lee, Haifeng Ku, Howard Choi, Michael Yuan, Robert Fortunato, Robert Mao, Calvin Xu and Jasmine Zhang. Consultants bring in the project a lot of experience, providing their experience in other block projects and large technology corporations, as well as in business, consulting and science.

Product

The Eloncity protocol is intended to become a basic software for the exchange of electricity between the local community. The protocol contains an algorithm based on artificial intelligence to determine local equilibria of energy prices in real time. The protocol is a distributed system that captures all energy transactions and compatibility and unshakable.

Eloncity plans to use a consensus mechanism on the Delegated Proof of the Share. The Eloncity block will support up to 10,000 t / s (transactions per second) and a smart contract platform for energy exchange between community members. In addition, a kind of mining mechanism will be created that will allow users of BESS (battery energy storage systems), compatible with the Eloncity protocol, to receive ECT tokens for energy storage.

Its advantages:

• it is renewable (virtually inexhaustible),

• it is environmentally friendly (no harmful emissions and waste).

The installation includes small "windmills", photovoltaic modules (solar panels). Both can be put on the roof. Block with batteries (best placed in a cool room like a garage) and various meters, sensors and other trivia.

If the installation is bought by several neighbors in the village, they will be able to set up a network and refuse utility services.

Startups at the expense of a massive advertising campaign expect to explain the benefits of their ecosystem to start residents of remote areas of the US and the whole rural area. It is clear that the situation with resources there is tense, and electricity is very expensive.

Users of Eloncity will receive energy, literally, from "air" (free of charge!) And if necessary sell its surplus. Investments in the installation itself will quickly pay off. As for energy prices, they will be calculated by AI (as is now accepted, machine learning is announced) on the Eloncity platform, comparing demand on the entire planet or in specific regions.

Verdict

The use of the Eloncity platform in a very fast-growing and thriving market niche, coupled with the solid experience of the Eloncity team, makes this project very interesting. Community management and marketing are managed well, which increases the likelihood of a successful ICO. Achieving the development stages, as planned in the roadmap, and encouraging local communities to adopt the Elconcity platform will be the decisive tasks that the Eloncity team will have to solve in the coming years.