ElonCity- The Decentralized MicroGrid Energy Trading

Introduction

Eloncity is considered as a renewable energy ecosystem which is decentralized and containing a high-performance blockchain technology. It ensures the distribution and tracking of electricity generation sources. The blockchain platform offers on forming a community where the individuals searching for energy can develop their collaboration and sharing of the energy resources. The theory is in line with Eloncity's clue of justifying the barriers that obstruct the implementation of decentralized renewable energy sources within the energy sector.

Eloncity is a model for the planning, constructing and operating the community-based renewable microgrid. Eloncity token (ECT) enables an open market which allows communities around the world to interchange the energy and shared-resources locally and also to access the unified network of the global renewable energy solutions and products. Eloncity wishes to decentralize the present energy structure into billions of self-sufficient renewable energy “microgrids”. It will have the ability to make clean energy locally accessible 24/7 and competitive with that provided by centralized utility companies. Eloncity is trying to come up with the blockchain to energy and empower the world “virtually for free”. As it stands, the current, centralized power grid system by its nature is vulnerable to point vulnerabilities (for example, natural disaster could lead to the mass power outages) and high costs (due to the inefficiencies such as maintaining excess energy reserves).

The Eloncity project is the decentralization of the global energy system as a whole when using block technology, which is now very popular and is being introduced into numerous business areas and even into state cells. For example, in numerous cities and states the presidential elections were held using this technology and as a result – a positive outcome.

The Eloncity Decentralized Energy Architecture

The Eloncity Decentralized Energy Architecture is comprised of the below mentioned building blocks.
• Blockchain based AI trade system: By joining AI algorithm and blockchain, Eloncity supposes to launch a transparent and reasonable energy market with real-time prices as the reference
• Smart Energy Storage Systems: The Energy storage system will work with the IoT technologies to assist in balancing the demand and supply of the formed renewable energy
• Switching DC Power Bus: With the energy production and distribution, there is a requirement to control the energy peaks, and the Switching DC Power assists eliminating typical peak load permanently.
• Direct Current appliances: Eloncity will house the use of DC-driven devices to remove the use of repetitive power conversion and enhance the competitiveness of the produced renewable energy.
• Proof of the Stored Power (PoSp): The Eloncity will incorporate a Proof of Stored Power protocol, which is a modern mining scheme to make the ESS investment grade financial entities.

Potential benefits of Eloncity's energy service

• Open-source and secure: The Eloncity blockchain protocol works on an open and safeguards distributed ledger for the well-organized recording and tracking of dealings for the energy services.
• Reliability: There is a bigger reliability that comes along with the usage of Eloncity since the decentralized energy structure endures an inherent design to permit the platform to anticipate, to adapt, to absorb or to mend from potentially disruptive scenarios
• Low costs: The Eloncity energy model aids lower the energy expenditure of its individuals by joining the local DC grid networks, appliances, and retrofits for lessening the energy consumption or losses.
• A well-organized energy marketplace: By using the Eloncity Token for its open market, the platform permits users to enter a unified network for the global renewable energy solutions
• The Emissions decrease: Eloncity also decreases the GHG emission by replacing or limiting the use of fossil fuel-based electricity generation and dropping the energy consumption.

Investment Details

• Type: ERC20 – Utility
• The Symbol: ECT
• The Platform: Ethereum
• The Hard Cap: $33 million
• The Payments Accepted: ETH
• The Crowdsale: TBA
• The Minimum Investment: 0.1 ETH
• Price: Unspecified (Crowdsale)

Conclusion

Eloncity is making efforts to take the blockchain to energy and power the world “virtually for free”. As it stands, the modern, centralized power grid system by its nature is prone to point many vulnerabilities (e.g. a natural disaster could lead to mass power outages) and higher costs (due to inefficiencies such as maintaining excess energy reserves). There is a lot of buzz surrounding the abilities of blockchain as a distributed ledger for the usage in the energy sector, and Eloncity is just an example in the sea of modern energy-based ICOs. Even though there are many apparent advantages, Eloncity still consist of a lot to overcome with the inflexible mentality within the energy sector becoming the first of its challenges.