iExec (RLC)

About iExec (RLC)

RLC is an Ethereum token for the iExec cloud platform in which users can monetize and rent computing power and data. iExec enables developers to power applications on what is described as “a decentralized marketplace for cloud resources.”

What is iExec RLC?

iExec RLC (RLC) is a digital asset that operates on the Ethereum platform, with the aim of providing a decentralized computing environment. It seeks to establish a market network where individuals have the opportunity to monetize their computing power, applications, and datasets. iExec RLC is constructed on XtremWeb-HEP, an open-source desktop grid software that implements a variety of features including multi-applications, fault-tolerance, multi-users, deployment of virtual images, private infrastructure, data management, and security. The RLC token is given as a reward for contributing resources to the network, making it a crucial part of the iExec ecosystem.

How does iExec RLC work?

iExec RLC operates by providing on-demand access to cloud computing resources. It utilizes a consensus protocol known as PoCo or proof-of-contribution, which provides consensus over off-chain computing. This proof-of-contribution verifies the usage of external resources on the blockchain itself. iExec also supports distributed applications running on the blockchain, providing scalable, secure, and easy access to servers, datasets, and computing resources. This decentralized cloud infrastructure seeks to enable cost-effective, high-performance computing.

What are the potential use cases for iExec RLC?

iExec RLC seeks to support applications in various fields such as big data, healthcare, AI, rendering, and fintech. It allows application providers to monetize their algorithms, and data providers with valuable datasets to make them available for usage through iExec. It also enables users to connect their machines and be rewarded with RLC tokens for contributing their resources to the network. Furthermore, iExec RLC aims to overcome limitations within the Ethereum blockchain including scalability, privacy, and connectivity, enhancing the functionality of smart contracts.

What is the history of iExec RLC?

iExec RLC was established on October 16, 2016, with the aim to reinvent cloud computing by creating a new cloud computing paradigm. The founders of iExec RLC are Gilles Fedak, the CEO and co-founder, and Haiwu He, the co-founder and head of APAC. Both founders have extensive backgrounds in philosophy and computer science, and have conducted research in the field of desktop grid computing at INRIA and CNRS. The iExec RLC project is built upon their work, aiming to leverage research technologies developed at these research institutes.