I have always wondered how does electricity bills get calculated and it has always occurred to me that are the bills we pay online truly reliable?? Electric power consumption analysis and billing in today’s world is quite ineffective. Billing is done solely on the basis of electric meter readings, which could be either faulty or tampered with, thereby resulting in incorrect bill amounts for users. There is also a lack of transparency in the bill calculation process, which became evident in recent times when multitudes across the country received exorbitantly high bills.
What it does
We wanted to solve the problems stated above. But we didn't want to stop there and went a step further on home automation along with transparent and reliable transaction of electricity bills .Along with providing a Home-Automation system, Hercules ensures transparency in the Electricity consumption analysis and billing process. The Hercules dApp enables users to control their electronic appliances with great convenience The units consumed are stored on the blockchain and cannot be tampered with. Real-time monitoring of electricity consumption and due amount helps the user to optimize their power usage and prevent wastage. The bill payments can then be done from the dApp directly to the Electricity Board in crypto, ensuring credible payments and avoiding the need for intermediaries, also reducing transaction charges in the process.
How we built it
The IOT device controls home automation and sends the electricity consumption data to out Hercules which calculates the electricity bill for the electricity consumed.
Challenges we ran into
Even though our project idea was a very ambitious one, the very limited hardware we had at hand inhibited us from showcasing it in full glory. But we were able to build a working model with LEDs to demonstrate all the features of Hercules. Using React and Web3 to build the front-end was also a bit of a herculean task for us as none of us were actually specialized front-end developers.
Accomplishments that we're proud of
We're proud that we could build a project making use of both IOT and Blockchain, which are 2 of the major new-age technologies.
What we learned
We learned to make use of the esp8266 module for home-automation.
What's next for Hercules
We are planning to build a IOT device exclusively for recording electricity consumption so that the users who do not require home automation can also use it exclusively for electricity bill purposes.
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