Today I am going to tell you regarding The use of ECT token in the future and it's features.  In my first post regarding Eloncity project I described Eloncity project, Cornerstone Investments. If you not read that article I invite you to read it and have a clear understanding of this wonderful project. Today the world has become smaller due to technological developments. everyday new product are introduced to the market. To run all these new products and services power and energy has become vast important. Therefore the demand for energy will increasing everyday around the globe. To meet this demand energy is produced using different sources worldwide. But all these energy production systems Power generation is made in a centralized model which has high running costs, is vulnerable to lack of transparency, pollutes the environment and is not scalable. The ELONCITY major objective is to find solutions for these disadvantages found with the centralized energy production system. These plans. This will solve the problem of imbalances in renewable power supply and demand.  

 The innovation of the project is the use of blocking technology in solving the global energy problem. Eloncity decentralized energy system, the electricity will be continuously produced and transmitted across all networks. So this system can be an innovative solution to problems related to the shortage, interruptions and cost of electricity. The system is transparent and open, so any person can use this platform to create electricity. The problem of creating and consuming electricity now affects absolutely all people.  The Eloncity project going to change the centralized power system to network consisted of isolated self sufficient network of units.  So the dream of an environmentally clean source of renewable energy can become a reality.  There is a imbalance between supply and demand of energy and Eloncity bring a solution for this problem   The presence of the AI system in the project is designed to regulate the flow of electricity pricing. And the presence of the IOT system will allow to balance the supply of renewable electricity to these places. Thanks to this, the Eloncity system will be able to extract the peak load from the last mile, which will provide users with electricity continuously and smoothly.       

 

what is Eloncity Token (ECT) 

 Let see what is Eloncity Token. Basically it is a utility token that facilitate energy transfer within an Eloncity microgrid and among nearby Eloncity microgrids. ECT tokens can be used for following purposes.  

•   As a medium of exchange - ECT will be used as the utility token that facilitate energy exchange the on the Eloncity network . Consumers can earn ECT by providing their excess energy to peers on Eloncity network. The community member uses ECT to access local electricity services and ECTP-compliant products. 
• As a store of value - Each ECTP-compatible device wants to reserve some amount of ECTs that is similar to the value of its electricity capacity in order to get connected and utilize in the automated exchange. That pay the way to become the ECT a store of value backed by the value of electricity. The value of each ECT is reflected by the total energy transaction volume of the ecosystem, and the velocity of the ECT transactions. Because of the exchange reserve requirements, there is a limit for the monetary velocity, which makes value for the ECT and produces a stable token system.     

 Prominent features of ECT token

 A key function ECT performs is that it facilitate as the medium for energy exchange in the community or store of values of renewable energy. It has the ability to link users or customers in the community with energy solutions. The ability to use generated or earned ECT to get the renewable energy product choices and service options for the members of this community. This process of connecting solution providers to the energy consumer would create a unified renewable energy marketplace that is not limited by geographical separation, political boundaries, economic barriers, or any real or artificial barricades. When this marketplace expands organically from one local community into a unified global marketplace the ECT will reach a very high value.  

some of the Eloncity key features can be stated as below  

• Blockchain-based AI trade system: By combining AI algorithm and blockchain, Eloncity with help of token hopes to establish a transparent and fair energy market with real-time prices as reference
• Smart Energy Storage Systems: This is a another key feature of Eloncity. This system will work with the IoT technologies to assist balance the demand and supply of the generating renewable energy 
• Switching DC Power Bus: in  the energy generation and transmission, energy peaks should be controlled and the Switching DC Power allows to curb the typical peak load permanently.
• Direct Current appliances: This will accommodate the use of DC-driven devices to eliminate the use of  repetitive power conversion and enhance the competitiveness of the produced renewable energy.
• Proof of Stored Power (PoSp): Eloncity will incorporate PoSp protocol, that will facilitate ESS investment grade financial entities.

 Future of ECT

  At some point in the future, building-to-building energy exchange will likely be reduced significantly as high-capacity BESS offer more prevalent due to the low-cost of battery cells. buildings designed in future  are expected to be more energy self-sufficient. The Foundation’s analysis suggests that the energy exchange due to electric vehicle (EV) charging from inter-microgrid roaming would grow significantly, and thus offset for any reduction in building-to-building energy exchange volumes. As highlighted  in the Eloncity Whitepaper, the EVs and roads will become another network for offering renewable energy. The ECT is expected to continue playing the crucial role as the medium for energy exchange in that future.

conclusion:

Eloncity is a very promising project with a sound and innovative team. As described in this article it has given a new concept for energy generation and distribution.  ECT token and it's main features will lead Eloncity project to become major innovative world leading power project in future.  I invite all of you to go through its white paper and study more details regarding this wonderful project.    

 

For more information:

Elonity Official Website: https://eloncity.io/
Krypital Bounty Group: https://t.me/KrypitalBounty
Eloncity Group: https://t.me/Eloncity
Krypital News: https://t.me/KrypitalNews  

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