In the previous article, I has already reviewed the overview of the Eloncity project – one of the most promised ICOs in the third quarter, 2018. Today, I will continue to review the solution of Eloncity (Whitepaper) in details.
Review Eloncity Soltion Details – Eloncity Whitepaper v0.87
On Tuesday, June 26, the Eloncity Team has released the WhitePaper Final version 0.87 – the most important technical documentation of every blockchain project (ICO).
The main contents of this whitepaper include:
- Problems of Centralized Power Grid Model
- The Eloncity Solution and Model
- Technology – Decentralized energy architecture
- Evaluate Eloncity’s solution on various aspects
- Market developments
- The prospects of the solution
In this article, we focus on analyzing the problems the current system & reviewing the solutions of Eloncity (section 1 and 2). In the next article, we will continue the section 4.5, 6.
The problems of centralized power grid model
By providing a series of specific evidences and examples of incidents occurring in California, the U.S and around the world, Eloncity has very well argued over the issues of centralized power distribution systems. These are environmental and public health issues in power generation, the safety and reliability of centralized systems; and high electricity costs. Hence, it leads to the necessity of creating a decentralized generation and distribution network.
Some problems of centralized power grid model:
– Environmental and public health issues,
– Safety and reliability issues
– Adaptability and resilience
– Electricity price is not competitive
Given the challenges faced by natural disasters, population growth and climate change, new approaches to energy production and distribution are needed. The solutions must ensure a vibrant and sustainable development for all.
The AI Grid Foundation (Foundation) is a Singapore-based non-profit organization that advocates for the recruitment of renewable energy as a possible way to solve the problem of centralized AC power systems as mentioned above. The foundation has collaborated with global organizations and local communities to develop the Eloncity Model – a multi-faceted solution that uses Decentralized Renewable energy sources to overcome barriers of safe, flexible, flexible and fair energy generation & distribution in the future.
Renewable energy uses local renewable resources, such as solar or wind. When customers in a community work together to exchange energy and share the benefits of energy equipment costs (Eg solar PV BESS, other energy management systems). In order to maximize the utilization rate of installed equipment for increased ROI and other benefits, it essentially creates a community-based replication microgrid. This type of community-based, decentralized, renewable microgrid has tremendous potential to consolidate and address the problems of centralized grids that threaten safety and security.
Eloncity Model is proposed to integrate advanced blockchain technologies best practices and lessons learned to create a scalable and replicable recipe for unleashing the potential of the community-based renewable microgrid to attain a more vibrant regenerative energy future.
The Eloncity Model is built upon four main pillars:
1. Decentralized renewable energy architecture, including:
– A high-performance blockchain technology platform that provides an open, secure distribution ledger to record high-volume and high-speed power transactions; It comes with a utility token (Eloncity Token, #ECT)
– An utility token, ECT for local energy exchange and the encouragement of investment in a battery energy storage system (BESS) for the storage of harvested renewable energy as well as creating an open global marketplace that enables communities around the world to access innovative renewable energy products and services.
– A smart grid connected battery power system (BESS) is deployed on the basis of harmonized power supply needs.
– Generations that are renewable or community-based, such as solar PVs with a BESS intelligent network, will meet all or almost all of the local energy needs.
– Community DC power network uses the renewable DC power more efficiently by eradicating energy loss from repeated AC-DC-AC conversions as well as eliminating the needs for costly AC power ancillary services.
2. Community-driven planning and implementation warrant the enduring success of the community’s transition into the sustainable, regenerative energy future
3. Combined performance-based projects with revolving loans fund create an effective strategy for mobilizing the private capitals to drive wide-scale adoption of decentralized renewable energy
4. A collaborative and equitable regulatory framework facilitates leveled-field markets to mitigate imbalanced market powers, unleash market innovations, protect the energy consumer, and support the local economy.
In summary, the Eloncity’s multidimensional approach leverages the following:(1) social and community development, (2) economic viability, (3) technological advancement, and (4) regulatory responsiveness through the project life cycle. This multifaceted framework ensures project planning and implementation are comprehensively informed, synergistically inclusive, equitably tested, locally responsive, systems-oriented and leverage the best of technologies.
The advantages of Eloncity Solutions:
By applying the Blockchain technology to decentralized renewable energy, Eloncity has created following key advantages:
- Open and secure trading
- Integrated and efficient energy market
- Greater reliability
- Discount electricity
- Increased safety
- Bring social benefits
- Reduce GHG emissions
- High adaptability
- Reduced emissions by transportation vehicles
- Economic development
- Environmental and public health benefits
For more information about Eloncity project, visit:
- Official Website: http://eloncity.io/?utm_source=Content&utm_medium=Bounty&utm_campaign=B000149
- Whitepaper: https://eloncity.io/download/Eloncity_WhitePaper_V0.87_20180626_Final_Release.pdf
- Krypital Bounty Group: https://t.me/KrypitalBounty
- Eloncity Group: https://t.me/Eloncity
- Krypital News: https://t.me/KrypitalNews
- Medium: https://medium.com/eloncity
- Facebook: https://www.facebook.com/Eloncity
- Twitter: https://twitter.com/Eloncity_io
- Reddit: https://www.reddit.com/r/Eloncity
Thanks for reading !