The blockchain networks are the important component for the cryptocurrency transaction. Eloncity is the decentralized power the infrastructure into millions of self-sufficient microgrids. It has the ability to produce the energy for 24/7 competitive for the utilities directly. The energy price becomes transparent and people can use it the open technologies for making electricity virtually free so that it can electrify with clean energy.

The utility token of Eloncity is known as Eloncity Token or ECTkey functions facilitating the local energy in an exchange and incentivizes the investment which is rewarding the BESS operation for storing the newly harvested the renewable energy. This will create an open global marketplace enabling the communities all around the world.

ECT Mining

The mining process of EC can be a little trick. The mining mechanism awards the ECT tokens to the customers to the store with a renewable energy compliant with BESS and the tokens are pre-minted. The functions will be on for the long run into the smart business contracts by enhancing the Ethereum blockchain technology platform by the support of high-volume and high-speed transaction.

As soon as the market reaches to the milestone, the newly harvested renewable energy will take away of one terawatt-hour where the energy can definitely be stored for ECTP in compliant to BESS. The miners can receive for 16 ECTs as the rewards are for the every megawatt hour mostly for the newly harvested renewable energy. This energy can be stored into the ECTP compliant BESS and the miners can be the owners of the BESS as well.

The total amount of ECT will be rewarded by staying at the same place for every time when the total number of total renewable energy is stored into the ECTP compliant BESS gets doubled than the original. It can be illustrated in another way, like the first one terawatt-hour milestone, the miners will be able to receive eight ECTs for each of the stored megawatt-hours which used to take two terawatt hours to let the market reach before.

The second milestone will be open for the miners so that they can only receive four ECTs before the market reaches the milestones of four terawatt hours. This is applicable for the newly harvested renewable energy stored in the ECTP compliant BESS. The reward scheme will continue for ECT until the total amount for harvested renewable energy is stored in ECTP compliant BESS. As soon as it reaches to 524,288 terawatt hours, it will roughly have three times of total primary energy supply and the total number of ECTs will issue it to the miners which will be stated through a legitimate equitation.

ECT Mining Allocation

Even the foundation of ECT allocated about 32 percent of total token supply for emphasizing the mining process. The storage has renewable energy on ECT compliant BESS to help the offset investment in BESS where this 32 percent will be allocated as an act to the market incentive in terms of encouraging the mass-adoption of ECT. It is compliant to BESS while the initial market expansion process so that the lithium battery cell has not reached to the ideal energy storage in a density of 600 Watt-hour per kilogram in an optimal pricing for USD 0.21 per ampere hour.

Private sale : $19,000,000
Vesting period: 9-months locking position with 10% of token discharged in the meantime as the principle token discharge (six a month and a half after the finish of the fundamental commitment). From that point, 10% token discharged every month in 9 back to back stages.

Public token sale
• ICO Token Price: 1 ECT = 0.12 USD
• Fundraising Goal: 33,000,000 USD
• Total Tokens: 1,000,000,000
• Available for Token Sale: 32%

The tokens of Eloncity can be mined through a mechanism awarded to the ECT so that the customers can store the renewable energy using ECTP compliant to the BESS. The function is also long-term where the smart business contracts with the enhanced Ethereum blockchain technology platform in support of high-volume and high-speed transactions.

The Eloncity Model is utilizing the decentralized renewable energy through an obtainable property which is combined with innumerable greater technologies. The certain renewable products and services are also adding benefits to the open market. I like to welcome all to go through the whitepaper of project Eloncity and get a clear idea about the project. Please feel free to bring forward all the questions you have about the project Eloncity or the whitepaper of the project in the comment section

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