Hello friends. I continue to tell you about the preconceived Eloncity project. You already know a lot about him. And we do not need to talk about its prospects. This project will sell all your tokens.
Today we will talk specifically about the coin ECT. Also we will try to understand why it is needed.
The ECT is a utility token designed to facilitate energy exchange within an Eloncity microgrid and among adjacent Eloncity microgrids. The ECT will have two primary functions:
• A medium of exchange - On the Eloncity networks, the ECT is used for energy exchange. The consumers earn ECTs by providing their surplus energy to peers on the networks. The community member uses ECT to access local electricity services and ECTP-compliant products
• A store of value - Each ECTP-compliant device needs to reserve sufficient ECTs that is equivalent to the value of its electricity capacity to participate in the automated exchange. That makes the ECT a store of value backed by the value of electricity. The value of each ECT is determined by the total energy transaction volume of the ecosystem, and the velocity of the ECT transactions. Due to the exchange reserve requirements, there is a limit for the monetary Eloncity, which creates value for the ECT and produces a stable token system.
ECT performs several important functions in addition to being an environment for energy exchange in a community or in a repository of renewable energy. The most important and valuable role of ECT is Unified exchange means for linking energy consumers with solution providers in the field of renewable energy sources decentralized general economy. Communities and villages can use their ECTs to access renewable energy sources product selection and service options. This process of connecting solution providers to the energy consumer will create a single market for renewable energy sources, which is not limited to geographical separation, political borders, economic barriers or any real or artificial barricades. As this market organically develops from one local community into a single global market, the values of ECT will increase significantly.
The coin has a very inefficient mining specification.
Before the market reaches the limit of one terawat-hour of the new crop, the miners will receive 16 ECT as a reward for each megawatt-hour of newly collected renewable energy. The total amount of the ECT remuneration remains unchanged every time the total amount of newly collected renewable energy doubles.
For example, after the first milestone in one hour, the miners will receive eight ECT for each megawatt-hour stored before the market reaches the turn of two terawatt-hours. After the second milestone, the miners will receive only four ECTs, before the market reaches the turn of four terawat of newly assembled renewable energy. The ECT remuneration scheme continues until the total collected renewable energy reaches 524,288 terawatt hours, which is roughly three times the total primary energy in 2012.
There is also an inetseny method: MINING BASED ON HALF-LIFE
The fund selects a half-life mechanism to stimulate early ECTP-compatible investments to store newly collected renewable energy sources. It is expected that the accumulated renewable energy, compatible with the EST, is to be doubled every three months. Since newly collected renewable energy is stored in and doubles every time, the time needed to reach the next milestone of storing newly collected renewable energy will be become longer. By the time the storage of renewable energy of the new crop reaches 50 percent of the total primary energy supply within one year, it is expected that there will be enough power in the market to balance renewable electricity with demand for electricity.
At some point in the future, the energy exchange of buildings and structures is likely to be significantly reduced, since high power becomes more common due to the low cost of battery cells. It is expected that future buildings will be more and more energy is self-sufficient. The question at this point will be whether the volume of ECT exchange will be will still be high or not. An analysis of the Fund shows that the exchange of energy due to an electric vehicle charging from inter-roaming roaming will increase significantly and, thus, is compensated for any reduction in the construction of a building volumes of energy exchange. As described in more detail in the Eloncity Whitepaper, EV and roads will become another network for the distribution of renewable energy sources. It is expected that ECT will continue to play decisive role as a means for the exchange of energy in this future.
I tried very hard to tell you about the features of the coin. Her qualities do not end there. You can study all the details yourself after reading the white paper of the project. Also you can read the technical document if you want. This project is aimed at a very long existence. In his plans to create a global distribution network of electricity. And at the heart of it all is the ECT token.
Eloncity Official Website: https://eloncity.io/
Krypital Bounty Group: https://t.me/KrypitalBounty
Eloncity Group: https://t.me/Eloncity
Krypital News: https://t.me/KrypitalNews
My Btt : https://bitcointalk.org/index.php?action=profile;u=1300560