What is iExec RLC (RLC)?

The IExec platform is a leading solution company in the business of providing blockchain-based decentralized computing networks. The use of blockchain technology by the platform comes into play during its organization of market networks where users can convert their computing power, as well as datasets and applications into monetary resources.

The platform can achieve this goal through its provision of on-demand access to cloud computing resources. The system is also able to support applications in several fields including Artificial Intelligence, large-scale data resources, rendering, and the healthcare sector among others. According to its website, the platform was established on the 16th of October, 2016 with the main goal of completely reinventing the operation procedure used for cloud computing through its creation of a new paradigm for the system. Because of this, the platform is reliant on an open-source desktop grid software known as XtremWeb-HEP that implements a variety of features, some of which include fault-tolerance, virtual image deployment, data management, multi-applications, and several other resources.

Who are the Founders of iExec RLC (RLC)?

The iExec RLC blockchain network was co-founded by Gilles Fedak and Haiwu He, both of whom have major ties in the blockchain industry.

Fedak holds several educational certifications, with the first being a bachelor’s degree in computer science and the second a Ph.D., both from the Paris-Sud University (Paris XI). Later, he moved on to obtain another degree from the emlyon business school. After completing his studies across several fields of study, he started his journey as a part of the economic workforce with a job as a research scientist at INRIA. Then in 2020, he landed a funding position at Adan, before later getting a position on the board of directors at WISEED. Now he serves as the CEO of the iExec RLC. He on the other hand is also a blockchain technology expert with an arsenal of degrees. He holds a bachelor’s and a master’s degree in computer science from Hohai University. Later, he obtained a Ph.D. in the same field of study from the University of Lille for Sciences and Technology. After serving as an assistant professor at Hohai University, he also landed a job at INRIA as a research engineer expert. Later down the line, he co-founded iRentCPU.com and also got named as a professor at the Chinese Academy of Sciences. He currently serves as the head of APAC of IEXEC BLOCKCHAIN TECH.

 

What is Hamster iExec RLC (RLC)?

In general, cloud computing has risen to become the base standard for corporations that need access to significant processing power, without the need to maintain costly technological infrastructure. Companies like Apple, Xerox, and Netflix can manage, if not all, but a significant number of their applications and data using cloud computing services provided by other major corporations such as Google, Microsoft, and Amazon. The reason for this is that the companies already have a large number of servers running into tens of thousands of servers that will support data-intensive computations, thus obligating them to outsource these services even though they are to be executed at high costs.

The iExec RLC system was created to provide these same cloud computing services but in their case, it aims to make this provision in a decentralized manner, hence the application of blockchain technology to its operation.

What Is the Unique Point of iExec RLC (RLC)?

The iExec network is made up of a collection of computing resource providers which are known as the workers of iExec. The platform provides an avenue where users of the network can become workers and essentially connect their machines to the system to earn rewards in the form of RLC tokens for their contributions to the network. Providers of the application are allowed to monetize their developmental algorithms so that data providers who own valuable datasets can make these algorithms available for general usage through the iExec system. Additionally, there is also the system’s provision of consensus over off-chain computing.

The IExec platform also makes provision for distributed applications known as DApps which are scalable and securely run on the blockchain. These systems provide direct access to servers, as well as data sets and computing resources.  Due to the general operation of the network on the Ethereum blockchain, it is open to Virtual Cloud infrastructure which can provide high-performance computing services based on demand. As a result of this, the iExec system supports the emergence of distributed applications based on its blockchain technology, while also enabling cost-effective and high-performance computing systems, through a decentralized cloud infrastructure. This process has been projected to increase the environmental footprint of data centers through the platform’s facilitation of easy access to distributed cloud systems.

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

RLC is the dedicated cryptocurrency of the IExec network and is used for the execution of transactions within its ecosystem and also used as a form of reward for participants that perform specific responsibilities on the network such as the provision of security. The token serves this purpose because it holds value both within and outside the network. It can also be swapped for other cryptocurrencies such as VET and TERRA.

Currently, the token has been ranked on CoinMarketCap at #290 and has a live market cap of USD 160,135,508. While the token has a present circulating supply of 80,070,793 RLC coins, the maximum supply of the token is currently unknown.

 

Is the iExec RLC (RLC) Network secured?

The IExec system aids smart contracts in overcoming constraints that have been imposed on them by their operation within the Ethereum Blockchain, some of which may include features such as privacy, connectivity, and scalability. To secure the IExec to the max, the network developed a protocol known as the Trusted Execution Environment. The protocol Is essentially a secure area in the machine’s CPU that ensures that the executions of the code are guaranteed. In essence, this ensures the system’s codes cannot be tampered with because its logic has been implemented at both the software and hardware levels.

How do I buy iExec RLC (RLC)?

While cloud computing has grown extensively in the world of information technology, its use for small-scale corporations can be considered expensive and as such, that led to the creation of the iExec system. A platform that facilitates cloud computing at a decentralized level. Its plethora of use cases has attracted interested participants from all over the world. Now, its tokens are largely available across several exchanges and can be bought by the process below.

  • Open an account with the crypto exchange platform.
  • Deposit a specific amount of fiat money to the crypto account.
  • Buy your RLC tokens.

Which Cryptocurrency Wallet Supports iExec RLC (RLC)?

The PTPWallet platform supports many cryptocurrencies simultaneously such as iExec RLC (RLC). Because of its vast use case, it has grown to become one of the most used platforms as it serves as an exchange and an engine to discover other cryptocurrencies. Additionally, users can easily use PTPWallet as their RLC wallet because it offers a simple and interactive interface making it easy for people to navigate its system.

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