iExec RLC

iExec is a decentralized cloud computing platform and data marketplace based on the Ethereum network.

What is iExec RLC?

  • iExec RLC provides CLI and JS libraries for simple integration, as well as a dApp store for any decentralized apps built on the iExecRLC platform.
  • The iExec Marketplace allows cloud computing capabilities to be exchanged internationally in an open market. Projects can buy computer resources to run applications off-chain, avoiding the scalability restrictions of their blockchain infrastructures.
  • iExec RLC is built on the Ethereum blockchain and focuses on giving scalable and secure access to cloud computing resources for developers and projects. 
  • The RLC token is an ERC-20 utility token that allows for trading and use of cloud resources in the iExec RLC ecosystem.

Key Metrics

TickerRLC
Token NameiExec RLC
Token Type/ProtocolERC-20
Total Token Supply86,999,785
Current Circulating Supply See Coinmarketcap
Market CapitalisationSee Coinmarketcap
Token Creation DateOctober 16, 2016
Can it be mined?No

Who is behind iExec RLC?

iExec is founded by Gilles Fedak and Haiwe He; it is built upon the work of team members who have done INRIA and CNRS research in the field of desktop grid computing and has its headquarters in Lyon, France.

What is the purpose of iExec RLC?

iExec RLC (RLC) is an Ethereum token, the native token of the iExec cloud platform. RLC stands for “Run on Lots of Computers”. RLC is a cryptocurrency that allows for conventional and safe payments. RLC’s purpose is to give decentralized blockchain applications scalable, safe, and simple access to the services, data sets, and computing resources they require. This technology is based on Ethereum smart contracts and enables for the creation of a virtual cloud infrastructure that delivers on-demand high-performance computing services.

Insights

XtremWeb-HEP, an open-source desktop program created by CNRS (National Center for Scientific Research) and INRIA, is used by iExec. As iExec is built on the Ethereum blockchain, it may utilize smart contracts to manage the access of computing resources to dApps. These smart contracts provide information on the characteristics of computer resources such as disk space, RAM, and processor type.

iExec’s Key Features

  • Innovation – iExec has developed a unique platform that enables the usage of large data and high-speed computing applications (HPC). 
  • Availability – High computing performance is a costly and difficult service, but iExec has made computing resources accessible on the iExec platform available on-demand. 
  • Improved – iExec utilizes mature XtremWeb-HEP software that has been in operation for about ten years. The program is widely used in various disciplines, including aeronautics, signal processing, finance, high energy physics, and so on.
  • iExec is built on the Ethereum blockchain, which allows for direct peer-to-peer interaction between resource suppliers and consumers. The Ethereum blockchain eliminates the need for third-party participation, which dramatically decreases the cost. 
Scaling blockchain application with open-source software and protocols.
source: https://iex.ec/

RLC is an ERC-20-compliant currency native to the iExec network, which is a project committed to develop a decentralized cloud infrastructure to supply computing resources for decentralized applications (dApps). 

The iExec ecosystem consists of the following components:

  • The iExec Marketplace is where resources are traded on a global market, and users are able to access the majority of computing power from the providers.
  • iExec SDK for dApp developers executes off-chain computations via the iExec decentralized cloud.
  • dApp Store for apps developed on the iExec infrastructure.
  • Data Wallet will assist data suppliers in selling their information.

Risks

  • iExec is a decentralized supercomputer built on top of the internet. It aims to build a supercomputer the same as competitors like Golem and SOMN. Both look toward a future of a blockchain-powered, decentralized internet. iExec’s main focus is DApp development and sustainability.
  • If there is a failure in the cloud provider’s service, the end user’s business operations will likely be impacted. This would be mitigated for some users by using multiple redundant service providers, though there will be the additional cost and complexity.

News and Updates

  • iExec RLC rallies 400% after big-name collaborations and Coinbase listing
  • Introducing the first projects selected by for EU-funding by iExec & ONTOCHAIN
  • iExec Developer Rewards & Grants: Allocating $1 Million to Fund Innovation using the iExec RLC Protocol
  • EDF, the fifth largest electrical utility company, has launched its visual simulator software GPUSPH on iExec, a decentralized application that operates on Ethereum mainnet.

Community & Whitepaper Links:

Disclaimer:
All investment is speculative and involves substantial risk and uncertainty. Investors should understand the nature of digital assets including the terms of return and the risk of assets. We encourage investors to fully understand the assets and the risk associated with them prior to making any investment.  

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