A review on Eloncity whitepaper

With the theme of “power the world virtually for free” Eloncity whitepaper initiate its discussion with risk factors and disclaimer statement. There are 18 risk factors discussed in the whitepaper.

1. Risk of losing access to ECT due to loss of private key(s)
2. Risks associated with the related blockchain
3. Risk of hacking and security weaknesses
4. Risk of uninsured losses
5. Risks associated with uncertain regulation and enforcement actions
6. Risks arising from taxation
7. Risk of alternative networks/competitors
8. Risk of insufficient interest in the Eloncity network or distributed applications
9. Risks associated with the development and maintenance of the Eloncity network
10. Risk of an unfavourable fluctuation of currency value
11. Risk of dissolution of the foundation
12. Risk arising from lack of government rights
13. Risks involving cloud storage
14. Risks associated with markets for ECT
15. Loss of talent
16. Failure to develop
17. Competition and Anti-Money laundering
18. Unanticipated risks

Then the whitepaper goes onto describe the problems of modern centralized power grid
• Environmental and public health problems
• Safety and reliability problems
• Adaptability and resilience
• Unaffordable electricity costs
Whitepaper solves the mystery of Eloncity by providing details about Eloncity and its functions. If anyone wants to know a fact about Eloncity the most suitable place would be whitepaper. So

What is Eloncity?

Eloncity solves issues related to centralized power system. The application of blockchain technology will decentralize the power system. Eloncity will decentralize our power system into millions of self sufficient micro grids. Eloncity will provide virtually free electricity and electrify the whole world for free. The traditional energy systems are replaced by the technological advancement provided by Eloncity. There is already an imbalance demand for renewable energy. Eloncity will eliminate this demand. Also, Eloncity will introduce a transparent price for everyone. The main goal of Eloncity is to solve the universal problem that affects everyone. The clean energy will be provided. The creation of Micro energy production sites like Rooftop solar, coupled with intelligent networked battery energy storage systems, installed on user premises millions of “micro grids”. A unified ecosystem is provided with these “micro grids” along with blockchain based smart contracts and performance-based micro-financing.

The solution

1. A decentralized energy architecture which consists of
    A high performance blockchain technology platform
    A crypto utility token
    An intelligent networked battery storage system
    Customer-sited or community based renewable generation
    Community DC power network
2. Community driven planning and implementation warrant
3. Combined performance based projects with revolving loans fund
4. A collaborative and equitable regulatory framework

Advantages

• Secure transparent energy transaction
• Open market to exchange energy and share resources
• Greater energy service reliability
• Low cost energy supply
In the whitepaper the architecture column provides a clear idea of Eloncity technology. The professional guide of Eloncity team is clearly indicated in the whitepaper. So let’s see the depiction of architecture in the whitepaper.

Architecture

EDEA or Eloncity decentralized energy architecture is the key technology building piece of Eloncity. The decentralized technology and crypto economic tools enable the shared regenerative energy economy. This modular design is the facilitator for deployment of Eloncity microgrid for different communities around the world. The DC or direct current supply will serve customers within a one mile radius. DCBus scheduler is used by this micro grid to manage the power flow. The shared resources in an Eloncity microgrid are locally generated renewable energy and equipment like BESS, PV arrays. Small wind turbines, electric vehicles, DCBus schedulers and other decentralized renewable energy assets. Eloncity token protocol or ECTP acts as the open and secured public accounting ledger. This ledger can be used to track the transactions of community resources sharing. The sources of delivered electricity renewable or fossil fuel are also tracked by this ledger. The ledger supports high volume-high speed transactions. Eloncity’s artificial intelligence (Al) technology and community network support optimal local energy supply and demand. The objective in designing this is to optimize localized enrgy supply and demand in real time. A transitional microgrid is a microgrid that continues to rley on imported power to meet their demand. Finally, Eloncity model includes a crypto utility token, Eloncity token (ECT). The DC appliances are reported to consume8% lesser poer when compared to the Al appliances.

Eloncity token

The ECT token is a utility token. It is designed with the intention to make energy exchange within Eloncity micro - grid. This ERC20 token type will be released to customers. There will be total tokens of 1,000,000,000. From them 32% of them are available for token sale. China and USA cannot participate. They accept ETH.

Conclusion

The whitepaper contains every single detail that is related to Eloncity. It is released by Eloncity team to the public soon after their appearance to the public. It can be downloaded from the official website of Eloncity. The above mentioned details focus a little bit on what is inside the whitepaper. It is the exact source of Eloncity project. Therefore, those who intend to know everything about this project should go through the whitepaper.