What Is iExec (RLC)?

iExec (RLC) is a network that aims to connect cloud resource suppliers with cloud resource consumers, encouraging an ecosystem of decentralized and autonomous privacy-preserving applications. iExec aims to provide companies with easy, secure, and scalable access to the data sets, computing resources, and services they need. The platform seeks to deploy an infrastructure sidechain (blockchainnetwork tied to the main chain) to promote distributed governance, involving big data, key HPC (high-performance computing), and cloud industry leaders. 

iExec uses the proof-of-contribution (PoCo) protocol for consensus over off-chain computing. The PoCo protocol proves that contribution has happened correctly and that the corresponding token transactions can occur in the blockchain. As a platform, iExec relies on XtremWeb-HEP. XtremWeb-HEP is an open-source solid and mature desktop grid software that implements all the needed features: multi-users, multi-applications, fault-tolerance, deployment of virtual images, hybrid public/private infrastructure, accountability, data management, security, and more. The platform's technology relies on Ethereumsmart contracts and builds a virtual cloud infrastructure that provides high-performance computing services on demand.  

According to the iExec whitepaper, there are limitations to the current blockchain system. 

• Blockchain Computing Challenges: Blockchains offer very limited computing capacities to run decentralized applications, entailing very high latency protocol, few kilobytes of storage, and very inefficient virtual machines. This calls for an increasing need to provide additional capacities to all but the simplest applications. 

• Traditional Computing Infrastructure Challenges: DApps need fully decentralized infrastructures to execute, and the existing clouds cannot fulfill these requirements. Meanwhile, there is an increase in the demand for computing power to process huge volumes of data and run large applications. HPC infrastructures and the cloud provide the computing power to run big data applications but are expensive and complex. Due to this, small businesses do not have the expertise and means to acquire and operate HPC platforms, while traditional cloud infrastructure vendors are still very expensive for demanding applications. Furthermore, the data centers consume massive energy for cooling systems and running servers. This has a negative impact on the environment apart from being costly. In order to address this problem, a decentralized cloud is required to enable blockchain computing and lower the cost of infrastructure usage.

As a solution to the problems mentioned above, iExec aims to support the emerging class of blockchain-based distributed applications and enable cost-effective high-performance computing by building a decentralized cloud infrastructure. With the decentralized cloud, iExec seeks to open new markets to use existing computing infrastructures efficiently. iExec seeks to build an ecosystem of companies offering data providers, storage, web hosting, SaaS applications, and computer farms, all conducting business with each other through iExec. Further, iExec aims to decrease the environmental footprint of data centers while bringing the data closer to their producers and consumers. A blockchain-based decentralized cloud allows secure, low-cost, and on-demand access to the most competitive computing infrastructures. The platform aims to facilitate DApps to automatically use, find, provision, and release all the computing resources they need: servers, applications, and data sets. 

RLC is the token of the iExec network. The token is used to access the resources provided through iExec. RLC is the payment method between application providers, server providers, and data providers on the platform. Application providers can economically regularize their DApps, apps, algorithms, or functions. Computing providers can efficiently use their servers by joining the iExec network and renting them. Data providers can economically regularize usage of the data sets (set of information such as numbers, semantic data) and open new revenue streams.

History of iExec (RLC)

Gilles Fedak and Haiwu He are the founders of iExec. Fedak is the CEO and has been a permanent INRIA research scientist at the ENS in Lyon, France, since 2004. He received his Ph.D. degree from the University of Paris Sud in 2003. Haiwu He is the head of the Asian-Pacific Region and was a 100 Talent Professor at the Computer Network Information Center (CNIC), Chinese Academy of Sciences, Beijing. He has been a Chunhui Scholar of the Ministry of Education, China, since 2013.

The updated V3 version of the iExec whitepaper was launched on April 24, 2018.

How Are New iExec (RLC) Tokens Created?

The locked RLC is staked as a security deposit on the platform to prevent malicious workers. The workers may lose their stake in computing a false result. Workers are companies or individuals owning computing resources and are willing to make them available for the task (instance where computing power is required) computation against payments in RLC.

How Many iExec (RLC) Tokens Are There?

The maximum total supply of RLC is 87,000,000.

How to Buy iExec (RLC)

iExec (RLC) can be traded at an exchange like Coinbase.