| WaykiChain Project Rating Overview Project Name：WaykiChain Gyro Rating：B Risk：Medium Founding Date：January 2018 Registration Address：Hong Kong Founder: WaykiChain Foundation | Project Introduction and Positioning Project basic information and introduction By fully integrating the features and advantages of blockchain’s decentralization, irreversibility and fairness, WaykiChain aims to build the blockchain 3.0 commercial public chain, provide enterprise-level blockchain infrastructure and industry solutions, and create a new business model in the new era. Taking betting industry as an entry point to amass users, WaykiChain will gradually develop business like assets trading and foreign exchange trading, and ultimately become “Big Platform” and “Big Ecosystem”. Official Information http://waykichain.com/ The project information is rather complete, and the latest news is updated in all social channels. Project Vision Become an efficient and stable public chain, gain a large number of users, and develop a variety of applications, mutually promote the formation of a self-sufficient ecosystem, and ultimately achieve the goal of a large platform. Project Necessity The WaykiChain is essentially a public chain created for the fields of quiz, financial services, etc. The team has a deep understanding of the pain points of the quiz industry and the demand of financial services between the digital currency and the fiat currency market. But due to the policy, they will face greater competitive pressures. | Market Analysis Data Sources：Ok Blockchain Capital | JingData | 智研咨询 Online Quiz Market The global quiz market is growing steadily year by year and is expected to reach $60 billion by 2020. The global traditional online quiz market is mainly concentrated in Europe, Southeast Asia and other areas with licenses. Currently there are Bet365, Betfair, William Hill and other global brands with global influence. Although the online quiz/betting market is growing rapidly, there is still a long way to go compared with the offline betting market. According to 智研咨询, the global gaming industry's total revenue has reached US$450 billion in 2016, with Asia's revenue ranking the first in the world at $139.5 billion, the gaming market in North America and Europe also outweighed $100 billion. In contrast, the solution of blockchain technology and online betting quiz has a huge market space in the future. Generally speaking, due to the influence of more or less gambling policies in most countries around the world, the market for quiz gaming industry is also limited, but it also reflects the huge potential of the market, especially online quiz gaming using blockchain technology to solve opaque capital operation, opaque game rules, high rakes, platform fraud and difficulties in cash withdrawal, it is foreseeable that the ceiling of the gaming market will continue to rise in the future , and the market size will be more bigger with transparent rules and legal supervision. Analysis of the current situation of online quiz gaming: The main problems for the online betting industry are mainly the information confidentiality, fund management security and platform fairness of each platform. Conclusion The Waykichain defines itself as a vertical public chain in the field of financial services related to quiz and other fields, and finds the combination point of the two contested areas with the highest degree of fit. The positioning has high rationality and forms a business closed loop in the ecological layout, it has built a system of transparent quiz, capital security and funds barrier-free circulation. Among the blockchain projects of the current global betting quiz category, the Waykichain basically lays the position of the top projects. Advantages: Fair and transparent quiz brought by the credibility of blockchain decentralization Blockchain smart contracts make every user or organization could be a quiz initiator The platform trust foundation brought by the blockchain public trust background The rapid flow of borderless funds brought about by the digital currency economy From the perspective of market capacity and demand, the blockchain and quiz are currently in a steadily rising stage. With the opening of the policy of betting contests in various countries, the market space will become larger and larger, and the future development trend is stronger. The development of Waykichain was based on commercial applications, combined with security betting quiz, foreign exchange settlement and other demand points, which can clearly solve the problems that cannot be avoided in the traditional field, and can quickly expand to the more users, making the non coin investors can also use the Waykichain products in a straightforward manner. At the same time, the development of the Waykichain can be accompanied by various difficulties and risks, such as the following: Risk of policy restrictions Technical restrictions on the public chain The singularity of the betting game limits the growth of the user community. Other homogenization competition for forecasting market projects | Team and Adviser Analysis The authenticity of the project team and consultants has been verified. Team Wayki Sun，Founder&CSO One of the earliest digital currency investors and entrepreneurs in China, named as "Godfather" in the industry, and nicknamed as "Fencing Master" online. The founder of Xinhuo Network, the founder of Ou Lu Zhong Chou and the Managing Director of Jufeng Digital Asset Management Co., Ltd. Sun led an investment team of hundreds of people with great achievements made in stock, foreign exchange, futures and digital currency markets. With over 10 years entrepreneurial experience in the financial industry and the Internet high-tech industry, Sun enjoys high reputation in both the traditional financial industry and the emerging digital currency market, and with plentiful industrial resources, maintains good cooperation with the industrial biggest digital currency exchange. Hang Gao，CEO Hang Gao, an alumni of Columbia University in New York, ex-Lead Data Scientist of Fishbowl in Wall Street, ex-Senior Data Analyst of Alibaba Group, senior member of Mensa International Club, currently serves as WaykiChains CEO. He is responsible for offering support to WaykiChains commercial model designing and strategy planning, building up a digitalized monitor system for products and operation and promoting WaykiChain overseas with his international background. Tony Chau，Co-founder & CBO Bachelors Degree in Finance from the University of Toronto in Canada and served in Hongshang Asset Management Co., Ltd. Focused on industrial surveys and commercial analysis, with in-depth research and distinctive perception on business operation models, and professional financial knowledge and complete project experience. Xi Zhang，CPO Tsinghua MBA, former Senior Product Manager of Tencent. As an expert in products and operations, Xi Zhang has been engaged in Internet industry for 14 years with several entrepreneurial experiences. In 2016, as a partner, he joined the Haiqiu Technology founded by famous football player Sun Jihai, responsible for the Miaohai business unit. He was fully responsible for the products, technology, operations, and marketing of Miaohai sports short video APP. Richard Chen，CTO Master of Computer Science from the National University of Singapore and Bachelor of Communication Engineering from Shanghai Jiao Tong University. Richard worked for Alibaba and was responsible for the internal and external information security system construction of the entire groups Customer Service Department. Prior to this, Richard also served as Senior Vice President for the worlds top investment bank Morgan Stanley for 3 years and Intel Chief Architect for 8 years. Xiaowei Wang，Creative Director Xiaowei Wang, with 9-year brand planning background, and rich experience of 4A advertising company and multiple local advertising companies, has provided brand strategy, brand image recognition, brand promotion, product packaging design strategy and visual service for a number of large enterprises and listed companies. With rich experience in brand management and keen insight to the trend of commodity, consumer and market competition, he is skilled to combine brand value innovation system with brand & market demand to enhance brand value. Saijun Wang，Operation Manager Bachlor and Master of Huazhong University of Science and Technology. Once worked as operation manager of Huarui Wind Power Technology Co. Ltd’s American branch and represented Huarui to attend the 2010 Dallas International Power Exhibition. On June, 2011, he was awarded the title “senior expert ” by the Wuhan municipal government. Good at internal management and creating harmonious environment and space for the company. Yuanhang Xiao，Tech.&Dvpt. Manager Professional blockchain technology officer, once worked at one of the top 500 corporation: Ricoh Imaging Technology (Shanghai) Co. LTD. In charge of blockchain technology app development and once provided API development and market data analysis services for many digital currency exchanges. Experienced in digital currency developing and professional in different coding languages including JAVA、C# and Linux. Conclusion After more than a year of development, the Waykichain team has grown to a healthy level. According to themselves, currently almost all core members are Chinese, with a total of 71 Waykichain members, and 23 of them are technical R&D teams. The technical team accounted for 32.4% of the total, but the technical staff have a deep understanding in the blockchain and Internet fields. Advisory Team Huang Tianwei Founder of Bit Times, formerly served as Tencent Product Manager and Project Manager, Vice President of Fantasy Basketball Manager, Chief Strategy Officer of Financial Box; Participated in Investment Point Technology, Yixiang Network, Maoming Rural Commercial Bank, Sheet Metal Technology, Jinse Finance, etc. with a very high reputation in the industry. Liao Wei Sun Yat-Sen University's master of computer engineering, known as one of the founders of China's Ethereum's Intelligent Square, one of the earliest blockchain technology teams in China. Senior developer of blockchain technology. Ma Long Master of Wuhan University, Asia DACA Blockchain Research Association and Tsinghua University iCenter special lecturer, elected as the top ten blockchain opinion leaders in the 2015-2016. Huang Lianjin Well-known blockchain expert, member of the American ACM Practitioner Board, member of the China Electronics Society blockchain expert, MBA. He once served as vice president of technology and chief blockchain scientist in China's largest non-listed communication technology company. He once served as CGI Group of Canada (mainly IT consulting), served as technical director and head of cloud security technology. Legal Adviser Yingke Law Firm Beijing Yingke Law Firm, referred to as Yingke Law Firm, is a global legal service organization headquartered in Beijing, China, with 42 offices in mainland China, the United States, Britain, Germany, Switzerland, France, South Korea, Russia, etc. 42 Each of the 89 cities and regions in each country has a member firm of the Pacific Century Global Legal Alliance. Honors and qualifications: the governing unit of the China Policy Science Research Association, the State Council's State-owned Assets Supervision and Administration Commission, the legal affairs cooperation unit, the ALB2015 Asia's largest law firm, the ALB2015 China's fastest growing 10 law firm. Conclusion The Waykichain advisory team has not changed this year. In the information disclosed so far, the advisory group has helped the Waykichain clear the direction of the project and avoid a lot of risks on many levels. The consultant's strength is strong, and it can bring more support to the Waykichain in terms of products, technology and laws. | Investor and Partnership Analysis The project partner's information comes from public information. Conclusion According to the public information, the Waykichain partners, in addition to Yingke Law Firm, are most exchanges, media and blockchain projects, except that the law firm can give certain legality help with internal support, other partners can give more support for traffic and branding. At the same time, we also see the official website of Waykichain that at present it has been listed on 73 large and medium-sized exchanges. The transaction coverage is wide, and the transaction volume is also the top level of all tradable items in the industry. The Waykichain mainnet has been online for 206 days, and there are currently 22 supporting the mapping, so the ratio is slightly smaller. From the mainnet of the Waykichain and the Ethereum mainnet, most of the current token is stored in the Waykichain wallet and Huobi. After communication with the project team, the current Waykichain official wallet has been completely mapped to the mainnet, and the WICC TOKEN on the Huobi is being gradually mapped, and the mapping progress has been completed more than 80%. In summary, the Waykichain, as a public chain in the field of quiz and finance, lacks the strong technical support in external cooperation, and lacks the accumulation of resources in the financial field. | Community Analysis The not deduplicated data of statistics on the current community: Waykichain Telegram Groups： https://t.me/waykichainchinese2 https://t.me/waykichainfanscn https://t.me/waykichain4 https://t.me/waykichainchinese https://t.me/wiccbet https://t.me/wiccfifa https://t.me/waykichain3 https://t.me/wiccapp https://t.me/waykichain5 https://t.me/wiccofficial https://t.me/waykichain https://t.me/waykichainfans Screenshot of Waykichain Telegram Screenshot of Waykichain Telegram and QQ Group Screenshot of Waykichain Twitter Screenshot of Waykichain Weibo Conclusion According to statistics, the total number of community fans of Waykichain is about 250,000+ (not deduplicated). In terms of quantity, the number of fans in the Waykichain project community is at the global leading level. From the perspective of community management, the Waykichain community has a fixed administrator maintenance, and is affected by the current market environment, the fans are at a moderate level of activity. Regarding the atmosphere of the community of the project, from the number of fans speaking in the week and the relevance, the community operation of the Waykichain has a certain order, and the community discussion are more relevant, but The sentiment of domestic community fans is relatively low, while the fans of foreign communities show the opposite situation. Through the Ethersan.io, we can see that the ERC20 TOKEN of the Waykichain has all been destroyed, and the destruction rate has reached 80%. The destruction address is as follows: https://etherscan.io/token/0x4f878c0852722b0976a955d68b376e4cd4ae99e5#balances Analysis of the currency holding situation of the mainnet of the Waykichain Through the Waykichain mainnet browser, we can see the status of the Token address of the Waykichain as of December 12 as follows: https://www.waykiscan.com/ From the mainnet browser of Waykichain, there are a total of 119,846 holding addresses, with a block height of 1,556,755. We have randomly sampling about 1,500 addresses, and the number of empty blocks (excluding transactions) is about 96%. The total number of holding addresses of the top 100 is 180109579.3, accounting for 85.6%. The total number of holding addresses in the top 10 is 167748784.8, accounting for 79.88%. Since the disclosure of various information on the mainnet is not complete, it is more difficult to be more detailed. Statistical analysis combined with the circulation rate and turnover rate displayed by external data platforms such as Coinmarketcap, it can be judged that the current Waykichain control rate is still at a relatively high level, and the frequency of users trading on the exchange is relatively high. | Token Economic Model Analysis Project Token Information As the basic token of Waykichain, WICC is also the token consumed by the Waykichain. It acts as the anchor currency for transactions between users, quiz chips and system rewards and punishments. It can be used on the public chain for payment and transfer, such as purchasing virtual goods or services provided by the application, or for exchange between tokens, fiat currency, asset trading platform, SaaS management background service, and get rewards. There are a total of 210 million WICC are produced and distributed, which are only used as tokens for use and circulation in the Waykichain application wallet. The WICC itself does not have any legal currency characteristics. WICC can be acquired by mining, voting, subscription, or buying from other holders transactions. WICC can be traded in fiat currency on exchanges, or traded with other digital currencies, so that it has transaction value, but this does not mean that WICC itself has legal currency attributes or value. Distribution Waykichain TOKEN distribution plan: 60% public sale 15% development team, early investors, operations team 15% strategic deployment 10% private equity investors In the white paper, the project team has a detailed description of each allocation plan. As can be seen from the distribution plan, the distribution plan of the Waykichain is mainly focused on one key point - fundraising. Up to 70% of TOKEN is used for fundraising purposes. This distribution method makes the Waykichain raise a lot of money and huge liquidity, helping the Waykichain team to improve their survival rate in the long-term bear market. Price As can be found from the public information, the early public sale price of the Waykichain is about $0.29. Combined with the total number of WICC TOKEN and the time of public sale (end of December 17): At that time, all cryptocurrencies were in a bubble inflation period, and the price of Bitcoin was at an all-time high. At that time, the valuation of the WICC was not too high, and it was a long time after listing. There is still a good upward trend, giving investors a lot of investment returns. Token Circulation The use of the WICC TOKEN: Circulation of basic TOKEN financial attributes TOKEN as a mortgage to generate stable coin chips to participate in the quiz game Buy quiz and sports related information and specific services (such as tickets for sports competitions) Online and offline O2O chips / funds circulation Obtain the right to participate in the voting and lockout plan of the participating nodes For the operation and usage scenarios of TOKEN, the Waykichain is more cautious. In order to avoid policy and legal risks, there is no direct use of the Waykichain TOKEN as a quiz chip, but a mortgage mechanism similar to BTS, based on the Waykichain—a stable currency is issued as a special chip currency for gambling. As a smart contract, the users can participate more directly in the game at a low cost without understanding what is the blockchain. Among them, O2O operates in a relatively new way, and the demand is also large. In the future, the Waykichain will have a clearer value growth when it is vigorously exploring the offline gaming market. Token value logic analysis TOKEN of the Waykichain has not yet formed a large-scale landing application, and the official team of Waykichain is also rapidly advancing the deployment of quiz applications and smart contracts. The Waykichain released the “lock-in revenue sharing plan” in the early stage that led some developers and investors to lock the token, which enabled investors to enjoy the revenue share brought by the developer application and realize the third-party hematopoietic dividend. The plan reduced the circulation of the Waykichain in a short period of time and increased the market price of the Waykichain. However, in the long run, it was not able to withstand the impact of the market downturn and caused adverse effects in a small number of community members. The use of the Waykichain is clear, and the demand will increase sharply with the rich application of quiz and the realization of foreign exchange financial functions. Since the total number of TOKEN is small, there is a lot of space for growth compared to the overall market demand. Token Distribution From the white paper we can see that the TOKEN allocation is like this: 60% public sale 10% private equity investors 15% development team, early investors, operations team It can be seen that up to 70% of TOKEN is used for fundraising purposes. This distribution makes the Waykichain raise a lot of money and huge liquidity, but because a large number of TOKEN are circulated through fundraising, resulting in its incentives are relatively simple at present. From the perspective of results, the Waykichain’s fundraising was successful, but from the perspective of long-term development, a single community incentive model is difficult to promote community development in the long run. . | Business Model & Technology Highlights Waykichain mainnet：https://www.waykiscan.com Waykichain testnet ：https://testnet.waykiscan.com Waykichain Github ： https://github.com/WaykiChain/WaykiChain Waykichain Server wallet core library open source ： https://github.com/WaykiChain/wicc-wallet-utils Waykichain wallet open source ： https://github.com/WaykiChain/DAPP Waykichain node containerized open source： https://github.com/WaykiChain/docker-waykicoind Project Technology Introduction Waykichain technology features: Achieve 1000+TPS on mainnet and 100+ TPS transaction speed for smart contract DPOS consensus mechanism Use Lua language and basic class library to achieve Turing's complete computing scenario requirements, and programming technology for quiz smart module modular Classification node technical architecture Waykichain Technology Architecture: The first layer: the lowest level of the Waykichain public chain, the Waykichain will work with the developer community and partners in the entire ecosystem to promote the continuous development of the Waykichain 's underlying public chain technology; The second layer: the middle layer, the Waykichain will work with the developer community in the ecosystem to promote some developer tools and service platforms for the underlying public chain development to help more developers join the community, and be more convenient to use the Waykichain to build various upper application; The third layer: the top application layer, at this level, the Waykichain project team no longer dominates the upper application development, but through the support of the underlying technology and services, let the developers within the ecology or commercial developers to development and construction. Conclusion The technical structure of the Waykichain is clear and logical. From the theoretical point of view, we think that it is slightly different in theory from other public chain, but from the implementation point of view, the technology of Waykichain is relatively stable, and the improvements made by the Waykichain and the specific business on the public chain are also in line with business logic. Business model The project provides a Turing-complete public-chain platform that is perpendicular to the field of quiz, attracting developers to join the Waykichain development of quiz Dapp, through simple and modular smart contract programming techniques, while stimulating development through lock-in planning and voting, while investors form an internal incentive loop to increase Token usage and use value. Combined with the characteristics of the capital conversion of the quiz industry, the promotion of financial services and the expansion of overseas markets will increase the demand and circulation rate of the WICC Token, and increase its value. The Waykichain earns through the underlying technical services with the purpose of profit. Conclusion The Waykichain is a public chain for commercial applications. Combining security betting quiz, foreign exchange settlement and other demand points, it can clearly solve the problems that cannot be avoided in the traditional field. From the Waykichain project's external conversations and live broadcasts, the ambition of the Waykichain is very large. The Waykichain mainly wants to cover the crowds that are not a small number of non-gaming enthusiasts in the current industry, but hope to do with meeting the needs of users outside the industry, the non-coin investors can also use the products of the Waykichain in a simple and clear way to create a global blockchain gambling ecology that is truly applied. Blockchain application development and technical services based on commercial needs and market demand, with the development of global blockchain technology, will have more grounded use scenarios and broader market space. | Roadmap and Progress Disclosure Planning and milestones Project Roadmap Description and Analysis According to the latest weekly update from the Waykichain (12.10-12.16) and various public information on official channels: The Waykichain has been technically advanced since the mainnet has been online in May, but the Token mapping of the mainnet has progressed slowly. The project team has launched two DAPPs based on the Waykichain mainnet, one for information-based DAPP <维基时代> and one for quiz-type DAPP <维基竞猜> Analysis: <维基时代> The latest version includes information section (summary, newsletter) and community section (recommendation, square, encyclopedia), covering media elements including articles, videos and essays, etc. The overall style is simple, full-featured, and content is mostly based on ecologically relevant information of Waykichain, and the user experience is rather well, but the content output is monotonous and not attractive enough. <维基竞猜> is the only officially open quiz product currently developed by Waykichain. The quiz App contains football and basketball sports, the gameplay is relatively simple, the coverage area needs to be expanded, and the WICC token has not yet demonstrated the performance of the financial blockchain. In terms of activities and community building, Waykichain previously released the T2D2 program to recruit developers, and participated in a large number of blockchain developer activities, promoting the concept of the Waykichain, and they recently held various online activities such as the official mascot naming and first anniversary activities, work with media and communities at home and abroad to promote the Waykichain brand. Analysis: The main development of the Waykichain is focused on the developer’s recruitment, community building, brand marketing and product module development. In the case of the gradual improvement of the public chain, the recruitment of developers is gradually unfolding, and the feedback from the Waykichain is just okay. In terms of brand and community building, the influence of the Waykichain has reached the top position of the quiz public chain, and the community construction is relatively smooth, but due to market fluctuations, the mood among community members is also relatively low. | Whitepaper Analysis Waykichain white paper: http://www.waykichain.com/Whitepaper.pdf The screenshots of the whitepaper: Advantage: The whitepaper focuses on the design ideas, application prospects, and implementation scenarios of the Waykichain. The ideas are relatively clear, and the team have a high awareness of the industry. Disadvantages: As a public chain, there is a lack of specific design and algorithm design logic for core public chain technology. At the same time, the second part of the technical solution tells the story is not deep and specific enough. Twitter: https://twitter.com/tuoluocaijing Website: https://www.tuoluocaijing.cn Rating standard AAA>AA>A Excellent project with high value, Highly recommended BBB>BB>B Quality project with upper middle value, Normally recommended CCC>CC>C General project which have certain potential DDD>DD>D Low quality project with not much value, Not recommended E Fraud or scam project with no value, Strongly not recommended Disclaimer All data and information referenced in the articles is from compliant and legitimate sources that we deem as reliable, the information contained in the articles published on cryptocurrencyrating.io does not in any way constitute financial or investor advice and is only intended for informative purposes. Readers may not rely on such information to decide on investment or financing options or otherwise rely on such information in making decisions with monetary or financial effects. Gyro Research does not accept any liability of any kind with regards to the validity of the information or with regards to any damage suffered as a result of reliance on such information.
| Eloncity Project Rating Overview
Founding Date：June 2018
| Project Introduction and Positioning
Project basic information and introduction
Eloncity uses blockchain to record transactions in the community and establish an auditable record for tracking the sources of electricity generation in the community. A crypto utility token (Eloncity Token, ECT) facilitates local energy exchange and incentivizes investment in battery energy storage systems (BESS) for storing harvested renewable energy on the customer’s property. The Eloncity Foundation will collaborate with financial partners, government agencies, and other key stakeholders to establish revolving loans, which will help initiate the Eloncity project in communities lacking necessary funds.
The project information is relatively complete.
Power the world for Free (Free from pollution, exploitation, manipulation, involuntary billing, etc. )
In general, Eloncity, as a blockchain energy project can be seen as a high-efficiency energy storage system, providing flexible energy storage, transmission, and distribution for the community through the intelligent network deployment. We can see it with relatively high necessity and has certain value when comes in application. It can realize mutual help supply in the community network, and conduct intelligent transaction to balance supply and demand.
| Market Analysis
According to the ‘2018 Global Renewable Energy Investment ’ report, the recent decline in solar power and wind energy costs has continued to promote the development of renewable energy. Specifically, the total global renewable energy investment in 2017 has increased by 15.8% to US$279.8 billion compared with the previous year (excluding large hydropower). Another report(2018 Global Renewable Power Report) from REN21 said that the renewable energy has taken for 70% of the global increase in electricity in 2017, which can indicate renewable energy is gradually becoming an increasingly important part of the global trillion dollar market.
Global Renewable Power Capacoity (data source: REN21)
The International Renewable Energy Agency (IRENA) has expected the cost of new energy would be generally lower than fossil energy in 10 years. According to the statistics from IRENA, half of the world’s new power generation in 2017 comes from renewable sources, and renewable energy has taken for a quarter of the world’s total electricity generation. McKinsey also mentioned in their report that renewable energy would become the main energy source for rapid growth in the next 20 years worldwide .
In March 2018, China promulgated the ‘Renewable Energy Power Quota and Assessment Method (Consultation Paper)’, which stipulates the proportion of hydropower and non-water renewable energy power consumption in provincial-level administrative regions. The indicators are further allocated to market entities that undertake quota obligations, including grid companies, distribution companies, and large end users participating. In the long term, setting quotas for renewable energy power may help promote renewable energy trading between provinces. As for now, most of the provinces with the largest increase in quotas are located in East China. For example, the wind power and solar power generation in Hunan Province accounted for 2.9% in 2016. According to the 2018 quota index, the hydropower and renewable energy generation needs for Hunan province would take 9%, and grow to 19% in 2020.
2020 renewable power indicator targets, by province (excluding hydro)（data source：National Energy Administration，2018 ）
In the early days of 2018, traditional energy giant BP has announced cooperation with Tesla to build the first wind power storage system in the United States. As BP’s latest move to expand its renewable energy business, the company plans to invest $500 million annually in low-carbon technology. The British-Dutch oil and gas company Shell also announced that their capital expenditures in new energy industry will reach $1 billion to $2 billion annually in the next three years. At the same time, many international oil and gas giants such as Exxon Mobil, Total S.A., and Saudi Aramco have all announced their intention to the new energy industry which accelerated the development of the renewable energy market.
As a blockchain energy project, Eloncity may has three main advantages over traditional energy giants:
- Distributed energy trading and supply system
- Smart contracts using blockchain technology in the energy industry
- Safe records for all energy flows
Projects such as Energo, NAD Grid, Powerledger, and WePower have been focusing on the blockchain energy industry.
Compared to other blockchain energy projects, Eloncity has a more complete architecture that clearly illustrates how energy flows. In addition, with four years experience of power industry research and development, and more than 10 years of experience in power regulations, Eloncity has more understanding in the industry, which could reduce the relevant costs. And the team has innovative DC switching network technology, including cooperation with the world’s largest battery manufacturers and air conditioner manufacturers GREE, which could be a good advantage.
| Team and Adviser Analysis
We found from Eloncity’s website that it currently has 9 core members, with more than 30 engineers from the Pomcube team to provide technical support. From the information on the website and the whitepaper, the technical member has taken a big part in the core, but also almost every tech member has the background which related to energy industry. However, there are no specific technical staff from the blockchain industry. It is reported that currently Eloncity is now built on the side chain of Cybermiles.
Another thing needs to be mentioned is that the founder Andy Li has extensive work experience in the energy field, especially in the in-depth study of high-efficiency energy storage systems. In addition, all the hardware and software developers in the team have more than 6 years of relevant experience. The Eloncity advisory team consists of 10 members, including officials from government agencies, chief architect of the internet giant data center, senior communications from technology committee, and founders of well-known blockchain projects, which indicates the advisor board is outstanding in terms of industry background and blockchain technology.
Andy Li (Li Jianyu) Founder
Andy previously led ChinaCache to build a content distribution network (CDN) internet infrastructure, CDN is analogous to the networks of decentralized energy resources on the energy infrastructure. Andy also led Alibaba Cloud Computing Data Center Architecture team to pioneer the application of direct current (DC) power system for mega data centers in Asia. In addition, Andy dominates Cisco’s network traffic engineering technology. Since 2014, Andy has been leading POMCube Inc. to develop Intelligent Network Battery Energy Storage Systems (“BESS”).
Michael Nguyen , VP of Program Development
Mike’s 30-year career spans across multiple industries; from non-profits, advanced energy programs and policy to IT research and development, to international manufacturing operation and markets development. Mike holds 17 patents and four industry awards for technology innovation. Over the last seven years, Mike’s work focused on California’s ambitious energy programs and policies. His work focused on working with ratepayers and environmental advocacy groups, utilities, technology companies, research institutions and federal agencies to develop performance-based and customer-driven energy programs. He has worked with key stakeholders including California Energy Commission and Public Utility Commission.
North American Marketing Director
Gregary has 11+ years experience in server system solution architecture and product development. He served as Lead OCP/OCS/OPEN19 design requirements for Mega-Datacenter. He holds an MBA in Management of Technology, National Chiao Tung University; B.S. in Physics, National Taiwan University.
Dunping Yao , Marketing Director, Americas
Dunping has more than 6 years of experience in BMS hardware design. He worked as a research assistant for VRB charging technology at the Institute of Nuclear and New Energy Technology (INET) of Tsinghua University. He holds a master degree in testing technology and automation equipment from South China University of Technology.
Justin Wang , Product Manager
Lead Architect for iCAN, NetZero, Architect, Modular Data Center, Smart3Technology Sr. ME, Emerson Network Power, Xian, China.
Allen Ding, Eloncity Project Manage
Allen has 9 years of experience in electronic design. He is an expert in magnetic device design and power topology. He holds a bachelor degree in Mechanical Engineering from Nanhua University.
Peng Xu, Software Engineering Manager
Peng has more than 10 years of experience in software development, architecture design, and data analysis. He has participated in the development of NetZero software architecture, and has also helped develop the POMCube network service system and established and maintained the Foxconn e-commerce website.
Haichuan Jiang, System Verification Manager
10+ years technical experience in system testing and software testing programs.Success in managing Integrated Communication Exchange System verification projects.Lead team in Energy Storage System project based on the cloud platform (AWS).
Shu Wei , General Manager
Former General Manager of the Power Business Department of Beijing Century Internet Broadband Data Center Company, on behalf of Century Internet Organization, participated in the establishment of “Energy Internet Innovation Research Institute” by Tsinghua University. Century Internet served as the vice chairman unit and signed a strategic cooperation agreement with GCL Group in the new energy field, and undertook the Ministry of Science and Technology “AC and DC hybrid power grid demonstration project” with the China Southern Power Grid, Tsinghua University and other units. He used to be the head of the capacity building department of Huawei’s global public relations system and the deputy general manager of the ICP business of CHINA-ONLINE.
Howard Choy, Los Angeles Local Government and Public Agency Officials
Howard Choy, Local Government, and Public Agencies Howard led the Office of Sustainability in Los Angeles County, managing and developing energy and environmental programs for both municipal operations and Los Angeles county. The office manages the county’s $200 million annual energy/utility budget for internal operations, energy efficiency programs, and power generation facilities.
Michael Yuan, Corporate and Mobile Software Specialist
Michael received a Ph.D. in astrophysics from the University of Texas at Austin. He is the author of five books on software development, published by Prentice Hall, Addison-Wesley, and O’Reilly. Michael was an active code committer in large open-source projects, such as Firefox, Fedora, JBoss, and others. He is an expert in enterprise and mobile software and a principal investigator on multiple research projects funded by the United States government.
Bryan Allen, 22 world air record owners
Beginning in 1987, Bryan began working at the Jet Propulsion Laboratory in Pasadena, California. He won three major aviation prizes and is the owner of 22 world aviation records, four that are still current. He is delighted that the home he shares with his wife has three plug-and-play solar panels, two iCANs, and a monthly electricity bill under $20.
Enso Li, Chief Architect, Tencent Data Center
Enso is the chief architect of the Tencent Data Center and has experience in 240V high-voltage direct current, data center methodology, modular data centers, rack servers, and lithium batteries. He has nearly twenty patents and has published more than twenty papers and books
Haifeng Qu, Vice Chairman, Communications and Information Technology Committee, China Engineering Construction Standardization Association
Haifeng is the Vice Chairman of the Communications and Information Technology Committee of the China Engineering Construction Standardization Association and participates in the formulation of China’s data center industry standards. He also has a long serving tenure in both IDC and ISP companies.
Robert Mao, Founder of ArcBlock
Robert Mao is the founder and CEO of ArcBlock, Inc. Mao’s projects and activities have been covered widely by global news media outlets, including TechCrunch, CNN, USA Today, and others. Mao was first introduced to Bitcoin in 2009 and has been researching and experimenting with blockchain technology since 2013. He has lectured on cryptocurrencies and blockchain technology at numerous global events.
Robert designed the award-winning Green Idea House, one of the first affordable, zero net energy, zero carbon, case study houses built with standard construction materials and off-the-shelf technologies. He is a frequent guest lecturer at Pepperdine University’s MBA Program. Currently, he is working at the LA Cleantech Incubator, coaching startups, and developing strategies for their built environment space.
Chris is a mechanical engineer and call firefighter living in Topanga Canyon, California. His primary interest is in low impact living strategies. Chris is looking forward to eliminating his family’s carbon footprint by getting an electric dirt bike and someday converting his 4×4 for electric vehicle camping trips. He has been using the iCAN since October 2016 and sees residential energy storage as one of the most important technologies in making the electric lifestyle economical.
Kelvin Xu, Vice President Software, RiC Semiconductor
Kelvin is the vice president of software development at RiC Semiconductor and specializes in 3D facial recognition, and RF radar for autonomous driving. He has held senior software positions at multiple Fortune 500 companies, including Bell Canada, Nortel, Alcatel, and Fujitsu, as well as a number of startups. His expertise includes AI, blockchain, big data, IoT, network security, and wireless/optical communication. Mr. Xu holds multiple U.S. patents in wireless, IoT, and optics communication. Mr. Xu holds a Master of Science from McGill University and a Bachelor of Science from the University of Science and Technology of China in GeoPhysics.
Jasmine Zhang, NVIDIA Key Account Director
Jasmine is an account director at NVIDIA, where she manages three major accounts, comprising a market cap of $20-50B each, to facilitate the adoption and implementation of AI technologies by OEM partners in the product and service delivery sectors. Prior to her role at NVIDIA, Jasmine served as a managing consultant to IBM Global Services, where she drove the IBM smart grid global initiatives program in China. As a private consultant, she also advised the CEO of China’s State Power Group Co. on growth opportunities and strategic planning in the electronic vehicles market. Jasmine earned an MBA in strategy and marketing, as well as a Master of Science in global sustainable enterprises from the University of Michigan.
In general, the core team of Eloncity has excellent technical skills in the energy-related field, along with a strong team of consultants, but the team for blockchain still need to fill up.
| Investor and Partnership Analysis
It is reported that currently Eloncity has investors including Krypital Group, OK Capital, Starwin Capital, Fenbushi Capital, LD Capital, Horman Capital, CollinStar Capital, Interblock Capital, JRR Crypto, QINGZHENG Capital, Qingying Capital, Decentrust Capital, Ceyuan Ventures, GVC Capital, Powerlink labs, etc.
Krypital Group——Founded in 2017 and headquartered in Dallas, USA, it is a blockchain industry consulting company that provides global clients with professional, comprehensive consulting and management services in the blockchain field. Current investment projects include: ArcBlock, Cybermiles, Egretia, Merculet, Quoinblock, among which there are some popular blockchain projects.
Starwin Capital——Founded in 2016 by Guo Yuhang (the founder of Dianrong.com) and Hongtai Fund. In September, Xinghe Hongyu completed the first phase of fundraising, with a scale of 100 million yuan. It is the first special investment fund established by financial technology entrepreneurs in China, mainly focus on angel round and A round project investment. Current investment projects include: High Performance Blockchain, Game Root, Odaily, etc.
LD Capital——Founded in 2018, it is a digital asset investment fund focused on the blockchain industry. LD Capital was founded by blockchain investor Yi Lihua.
Ceyuan Ventures——Founded in 2005, a Beijing-based venture capital firm focused on early investments. Investment projects include: 360, Thunder, Enjoy, OKEX, ArcBlock, etc.
Cybermiles——Cybermiles is a blockchain and smart contract platform developed by 5xlab. It’s a blockchain project that supports large-scale commercial applications, and a wide variety of business smart contracts can be developed. Currently Eloncity is built on the Cybermiles side chain, running the Eloncity energy trading and smart contract platform on the Cybermiles’s Plasma layer, and providing support for the Eloncity token mining mechanism.
ArcBlock——Arcblock is a service platform dedicated to the development and deployment of decentralized blockchain applications and an ecosystem of multi-participation. It aims to solve several ubiquitous problems in blockchain applications that hinder the popularization of blockchain technology in the public domain. It can help users connect existing systems and services with blockchain, enabling users to apply existing business data, users, business logic, etc. to new applications driven by blockchain. In the future, ECTP is supported on the open chain protocol in Arcblock.
Pomcube——Founded by Andy Li, POMCube develops home energy storage systems and an Internet-based massive home energy storage management platform. Its home energy storage system (rESS) is mainly composed of an inverter and a battery. The system charges and stores the battery when the electricity was in a low level, and the battery is discharged during the peak period to balance the household electricity load.
Panasonic——Panasonic is a multinational company in Japan. It has products in the fields of home appliances, digital audio-visual electronics, office products, aviation, etc. It is a world-famous international comprehensive electronic technology enterprise group.
Gree Electric Appliances Co., Ltd., established in 1991, is an international enterprise integrating R&D, production, sales and service. It owns three brands, Gree, TOSOT and Jinghong, mainly engaged in household air conditioners and central air conditioners, air energy water heaters, mobile phones, household appliances, refrigerators and other products. It has been listed on the Fortune magazine ‘Top 100 Companies in China’ for 9 years.
About the investors, we could see that some investors of Eloncity come from traditional capital, some are from the emerging capital which mostly focus in the blockchain industry. About the partners, by partnering with POMCube, Eloncity has a good performance in promoting the project cooperation.
| Community Analysis
The Eloncity project was launched in June 2018. Currently, there is no token issued, so the information related to the token address cannot be analyzed temporarily.
Screenshot of the Eloncity Telegram Group
Currently Eloncity has 6 Chinese WeChat groups and 1 English telegram group, all operated by Krypital Group. There are 1571 followers in WeChat groups, 16,433 followers in telegram groups, and the total number of people in the community is 18,004 (not de-weighted). Based on our observation within a couple days, the followers in Eloncity’s WeChat group are not quite active, most information in the group come from the officials of Eloncity. The discussion in the telegram group is more active, and most of the content is related to Token sales information and project progress. It is reported that the team of Eloncity is currently expanding mostly at the markets besides China.
Screenshot of the Eloncity social medias
As can be seen from the public information, the mainstream social media channels that Eloncity has used are mainly Twitter, Facebook, Medium, Reddit and WeChat public account. At present, Eloncity official Twitter has a total of 20,900 fans, Facebook has 3777 followers, Reddit has 971 subscribers, and there are roughly 25,648 fans (not de-weighted).
For its Twitter, you can see that the Retweet and Like of Eloncity Tweet are generally above 200. Since Eloncity‘s official Twitter account was registered is in March 2018, the current weekly update frequency is about 7 articles/week, which was rather active.
| Token Economic Model Analysis
Project Token Information
ELONCITY TOKEN (ECT) is a practical encrypted token designed to facilitate energy trading between microgrids (ECTP compatible microgrids).
Issuer: AI GRID FOUNDATION
Place of registration: Singapore
Total issuance: 1 billion (no additional issuance)
- Token distribution ratio:
- Token sales: 32%, a total of 320,000,000
- Renewable energy mining: 32%,a total of 320,000,000
- Team: 7.5%, a total of 75,000,000
- Eloncity Lab: 14.5%, a total of 145,000,000
- Marketing: 14%, a total of 140,000,000
Eloncity expects to issue a total of 1 billion ECT Tokens, and it will never increase the amount. The ECT allocation is mainly divided into five parts.
- The Token for the sales portion accounts for 32%, and token from cornerstone part locked up for 9 months. 10% token released per month, 10 times, total 9 months
- 32% for renewable energy mining and 14% for marketing
- The team portion accounts for 7.5%, and this portion of the funds will be locked for 6 months after token sales’section finished, and then released on a quarterly basis for the next 8 quarters. Part of the team’s funds are mainly used for Eloncity community and business development, performance-based project financing and revolving loans, collaboration and fair regulatory framework.
- Eloncity Labs accounted for 14.5% of the total, which will be locked for 12 months after token would be sold and then released on a quarterly basis for the next eight quarters.
It can be seen that the amount of ECT circulating supply at early stage would be relatively samll. With the gradual unlocking of the cornerstone Token and the output of the mining part Token, the market circulation will gradually increase.
According to relevant information, Eloncity is currently at the ECT Token sales stage (Chinese and US citizens are prohibited from participating), with softcap of $10 million and hardcap of $31.59 million. The conversion ratio of the ECT cornerstone is 1USD= 11.11 ECT, and the completed financing amount is 20.43 million US dollars. In addition, the public offering price is 1 USD = 8.33 ECT and the estimated sales is $8 million.
According to the information published on Eloncity’s official website and white paper, ECT has two main purposes:
- Exchange method – On the Eloncity network, ECT can be used for energy exchange. Supply and demand are adjusted based on ECT’s short-term energy price volatility. Consumers get ECT by providing them with excess electric energy. Community members use local electronic services and ECPT-compatible products by paying for ECT (e.g, POMCube, NetZero)
- Storage Value – Each ECTP-compatible BESS device needs to retain an ECT equivalent to its storage capacity to participate in automated electricity trade, which makes ECT a value reserve behind the value of electricity, and the price of each ECT is traded within the ecosystem. The total amount and the trading speed of the ECT are determined.
From the perspective of the operational logic and function of ECT, ECT is mainly used in the ecosystem of projects, such as trading, exchange and storage, and has certain practical value and sustainability.
Project value-added logic analysis
Calculated from the pricing mechanism in the whitepaper, Eloncity expects the total value of electricity traded globally in 2040 may be close to 5.6 trillion US dollars. It is expected that the market capitalization of ECT will exceed 1 trillion US dollars, but concerning a series of factors such as currency inflation, the project itself gives the market capitalization of positioning itself in 2018 is about 560 million US dollars. Based on the situation of the global market scale of renewable energy in the trillion dollar scale, and the current market capitalization performance of Powerledger and WePower, the price of Eloncity Token was a little high , but the project has the potential to be more valuable as well.
| Business Model & Technology Highlights
Project Technology Highlights
Distributed Energy Architecture (EDEA)
Eloncity Decentralized Energy Architecture (EDEA), an ecosystem of decentralization technologies and crypto economic tools to enable the shared regenerative energy economy. The modular design facilitates tailored deployment of Eloncity microgrid for diverse communities around the world. An optimal Eloncity configuration would be a direct current (DC) microgrid serving customers within a one-mile radius. This microgrid uses the DCBus Scheduler to manage the power flows in the community. The shared resources in an Eloncity microgrid would be locally generated renewable energy, and the equipment such as BESS, PV arrays, small wind turbines, electric vehicles, DCbus Schedulers and other decentralized renewable energy assets.
ELONCITY TOKEN (ECT)
The ECT is a utility token designed to facilitate energy exchange within an Eloncity microgrid (i.e., ECTPcompliant microgrid) and among adjacent Eloncity microgrids.
ECT half-life mining mechanism
Before the market reaches the milestone of one terawatt-hour of newly harvest renewable energy stored in ECTP-compliant BESS, miners will receive 16 ECTs as rewards for each megawatt-hour of newly harvested renewable energy stored in the ECTP-compliant BESS. Miners are owners and owners of BESS. The total amount of ECT reward stays the same each time the total of newly harvested renewable energy stored in ECTPcompliant BESS doubles. For instance, after the first one terawatt-hour milestone, miners will receive eight ECTs for each stored megawatt-hour before the market reaches the milestone of two terawatt-hours. After the second milestone, miners will only receive four ECTs before the market reaches the milestone of four terawatthours of newly harvested renewable energy stored in ECTP-compliant BESS. The ECT reward scheme continues until the total harvested renewable energy stored in ECTP-compliant BESS reaches 524,288 terawatt-hour, which is roughly three times the total primary energy supply (TPES) in 201211.
ELONCITY TOKEN Agreement (ECTP)
The ECTP is based on blockchain technology to create a highly efficient and trusted community-based electricity exchange platform. It also specifies hardware devices and power network requirements for peer devices to exchange electricity on the blockchain platform. The core of this protocol is an AI-based algorithm that determines locational real-time energy price equilibrium at any point on a local energy network. This protocol recognizes that the energy supply-demand condition on one street is not necessarily the same condition for another street in a microgrid. Therefore, the value of electricity at any given moment at different locations on a microgrid would be different. The energy price determination of the Eloncity Model is a function of both time and location.
From the official information, we can see that besides the basic trading attributes, ECT‘s main functions are for energy exchange and value storage. Apart from the marketing part of ECT Token, most ECT Token in the ICO period are locked in a different range of time. As time goes by and the mining keep proceeding, the locked token would be gradually released, which would also contributes to the steady growth of the project.
However, for the specific profit model of the project, Eloncity has not disclosed the detailed information. In addition, with the huge market scale of the renewable energy industry, there are still many industrial giants which have been keeping their eyes on, and start-up companies are also emerging at. To achieve ECT encryption pass in 2018 with a market capitalization of approximately $560 million, more information needs to be added to the project’s own revenue model and business growth points.
Besides, the specific fund supervision plan for Eloncity has not been announced in the public information.
| Roadmap and Progress Disclosure
Project Overall Roadmap
Project Roadmap Description and Analysis
According to the project plan, Eloncity currently has a roadmap which has planned all the things until 2022. From the establishment of POMCube in 2014 to the production and application of several BESS products such as iCAN, we can see that Eloncity’s has a quite a strength in the energy hardware industry.
In addition, the current BESS (including EMS) has been produced in small batches, and the DCbus prototype is also scheduled to complete P1A in November. The team and GREE Electric Appliances have carried out standardization and promotion of DC air conditioners, mainly in the US market. It also has a strategic partnership with CATL to promote the North American energy storage market and is also conducting microgrid trials with subsidiaries of Global Energy Internet (See Technology). The first micro-grid site in North America which is located in Brawley, California, converted the original Mobile Home Park into a 480-unit general residence that will be the largest ZNE Home in California.
But if we look closely with the blockchain part, the team member said that currently Eloncity was mainly based on Cybermiles, the side chain was based on Plasma, and the AI calculates fair trade prices was also being tested. It can be seen from the planning that in 2019 Q1, Eloncity would run the energy trading and intelligent contract platform at the Cybermiles Plasma layer and support ECTP on the Arcblock open chain with access protocol in 2019 Q4 .
Eloncity has not yet disclosed about their team Github address and the related code about the blockchain part.
| Whitepaper Analysis
Screenshots of Eloncity’s whitepaper are as follows:
As we could see from the whitepaper, the energy architecture, technical modules, current management, etc. are introduced in great detail, which could be rather difficult for non-professionals to understand. About the half-life mining mechanism, it is also presented in the form of mathematical formulas. If you combine with the explanation, although it may takes some time to sort out, it can deepen the understanding of the logic and design concept of the mining mode. However, the use and value attributes of ECT are described in detail in the whitepaper, there are few references to its development planning and business model.
To sum up, this whitepaper has a very detailed introduction to the concept of Eloncity and the basic logic of operation. It is worth reading for readers or investors who want to know about Eloncity, but its technical details and related information for the blockchain part need to be improved.
Excellent project with high value, Highly recommended
Quality project with upper middle value, Normally recommended
General project which have certain potential
Low quality project with not much value, Not recommended
Fraud or scam project with no value, Strongly not recommended
Investors can participate in the project.
With certain risks, Investors should be carefully when investing, with a small amount of money.
With more unclear information, higher risk, not recommend to invest, or do not invest.
The project is suspected of fraud, do not invest.