What is iExec RLC (RLC)?

iExec is the future of the Internet’s infrastructure by decentralizing the cloud computing market and being the first blockchain-based cloud computing marketplace. The iExec network connects cloud resource sellers with buyers, encouraging an ecosystem of decentralized, autonomous, privacy-preserving applications. This network aims to provide companies with scalable, secure, and easy access to the services, datasets, and computing resources they need. 

For Computing Resource Providers

iExec distinguishes between three different types of cloud resource providers :

Application providers

Developers and application providers can monetize their apps, dapps, functions, or algorithms. Application providers can monetize their applications and algorithms by setting a fixed fee for every user of their software (pay-per-task model). As a developer of decentralized applications, you may use iExec to overcome blockchain limitations (few kilobytes of storage, inefficient virtual machines, and a very high latency protocol) by executing your computations “off-chain” on the iExec decentralized infrastructure.

Computing providers

Computing providers can make the most of their servers by joining the iExec network and renting them. Within the iExec network, computing power providers are called “workers.” As a worker, you can connect your machine to the network and provide computing power. Your machine executes computational tasks in exchange for a reward in RLC tokens. Workers can be individuals or companies. 

Data providers

Data providers can monetize dataset usage and open new revenue streams for their assets. A single entity can be all types of providers at the same time. Data providers that own valuable datasets can make them available for applications through the iExec Data Store. The iExec pay-per-task model empowers Intel SGX and IBM Datashield to offer new opportunities for creating highly-secure applications that respect data privacy and ownership.

What are Pools?

Worker pools are made up of multiple individual machines. They are led by a pool manager, a lead entity that organizes the workload and signals how many tasks it can process and at what price.

The pool manager freely determines the pricing to execute the computational task for its workers. 

The pool manager, while not doing the actual computation, receives a fee for managing the worker pool. Pool managers compete to attract workers to their worker pool by providing efficient management and guaranteeing earnings for workers.

What is iExec DOracle?

It is a flexible and secure Oracle solution. Oracles are systems designed to solve this problem: providing the blockchain with data from the real world as securely and robustly as possible. An update to an Oracle (for example, the price of a stock or the average temperature for a day) can be seen as the result of a specific type of off-chain computation, one that would involve calling an API and processing the response to return the final result. 

The iExec infrastructure is perfectly suited to build an efficient and secure Oracle system. For two years, iExec has been working on the design of the, which provides a flexible and highly robust solution to the problem of off-chain computation. At its core, it is a simple Schelling game between off-chain computation providers (workers): a given number of workers are randomly chosen in a much bigger group and are assigned the same computation. 

Since 2016, iExec has been building a Web3 Marketplace for computing assets. In the iExec Marketplace, users can monetize the use of their applications, data, and computing power, while maintaining ownership and confidentiality of the assets being traded. iExec uses the Ethereum blockchain to organize transactions in the marketplace, bringing governance, trust, and security.

iExec was financed through an ICO, a fundraising effort in cryptocurrency that raised 10,000 bitcoins in 3 hours. The company has also created its own cryptocurrency token, the RLC, which is available on all global exchange platforms.

 

Who is the founder of iExec RLC (RLC)?

Gilles Fedak is the CEO and co-founder of iExec RLC, and Haiwu He is the co-founder and head of APAC at iExec. The team at iExec includes 40 collaborators, and the average age of iExec employees is 34.

 

What is iExec RLC (RLC) used for?

Deploy applications

Developers also benefit from being free 

from adjusting resource allocation. By not having to maintain any servers, developers deploy applications that can rapidly upscale/downscale based on user demand.

Monetize your data

Dataset providers can monetize their data by setting a fixed fee for every single usage of their software (pay-per-task model). iExec allows multiple levels of security to monetize any data: data means datasets or more advanced, valuable models.

Create Pools

Anyone owning computing resources can make them available by joining a “worker pool” and renting computing power to the network. Any machine can join a worker pool, from an individual laptop to a large-scale data center.

Consulting 

iExec also offers consulting and support to companies developing blockchain projects. For example, assets tokenization, confidential data sharing, value transfer, and smart contracts.

 

How is iExec RLC (RLC) unique?

iExec’s technology relies on Ethereum smart contracts and allows for a virtual cloud infrastructure that provides high-performance computing services on demand. iExec believes in a future of decentralized infrastructure and market networks, where big data and HPC applications, highly valued datasets, and computing resources (storage, CPU, GPU) will be monetized on the blockchain with the highest level of transparency, resiliency and security.

iExec strengthens applications running on Ethereum smart contracts, allowing off-chain computation services and datasets on-demand. This is made possible by the iExec Proof-of-Contribution or PoCo consensus protocol that validates off-chain computations. Comparable to the oil market, the iExec Marketplace offers uniform and standardized access to computing resources, regardless of their provider.

 

How many iExec RLC (RLC) coins are in circulation?

It has a circulating supply of 80,999,785 RLC coins and a maximum supply of 86,999,785 RLC coins.

 

How is the iExec RLC network secured?

PoCo is a protocol designed to provide trust in an open, decentralized environment of untrusted machines. The iExec platform provides a network where application providers, workers, and users can gather and work together. The fully decentralized nature of iExec implies that no single agent is trusted by default and that those agents require incentives to contribute correctly.

The PoCo is both flexible and robust: the trust level for the computation (e.g., for the Oracle update in the dOracle case) can be set arbitrarily and determines the number of replications. It also includes a coherent on-chain incentive mechanism that protects the system against any (financially sustainable) attack. Last but not least, it is cheap and scalable: the more Workers join the iExec platform, the more secure and cheaper running a dOracle will be.

 

 How do I buy iExec RLC (RLC)?

The RLC token can be used for a wide range of purposes, like staking and governance.

RLC tokens can be easily purchased by following the following steps. 

Open an account with the crypto trading platform.

* Transfer the specific amount of your fiat currency to your account.

* Wait for your deposit to be confirmed and buy RLC through your trading account by swapping with BTC, ETH, or USDT pairs.

 

Which Cryptocurrency Wallet Supports iExec RLC (RLC)?

The PTPWallet platform supports many cryptocurrencies, with RLC  soon to be included. Because of its vast use case, PTPWallet has grown to become one of the most used platforms, as it serves as an exchange and an engine to discover other cryptocurrencies. The platform offers a simple user interface, is supported by both Android and iOS devices, and comes with its own mobile wallet app.

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