Today we will talk about: iExec (RLC)!
OVERVIEW
In the last token review, I talked about The Graph. If you missed my last crypto analysis, you can recover it below.
RLC is reference token of the shared and cloud storage service iExec, which introduces compared to similar blockchains many interesting novelties. iExec is a not-so-new project, since it has been active since 2017, but only in the last few months has it been talked about more.
Cloud computing provides users with effective cloud access to files and resources. It provides processing power, resource storage, and applications that users can access at any time. Cloud computing is primarily used by businesses, institutions, and individuals. However, most cloud computing services run on centralized clouds, such as Netflix, hosted in Amazon's cloud. Distributed cloud computing breaks down the computations of a large number of computers in the network. As the cryptocurrency blockchain builds dApps within it, it continues to gain popularity. Blockchain does this to leverage the accessibility and high performance of decentralized cloud computing.
The iExec platform is similar to Amazon S3 or Microsoft Azure, but instead of centralizing all servers in one location, it is broken down into thousands of nodes for off-chain computing for blockchain applications. With the emergence of blockchain startups, decentralized cloud computing has been growing, and they hope to take advantage of the cost-effectiveness and efficiency of blockchain-based platforms.
In addition, iExec also provides an advanced SDK that allows you to use the project cloud to remove certain calculations from the blockchain, helping even systems like Ethereum overcome, as if it were a layer 2 scalability problem.
The Team
Currently iExec has a well-staffed team of both business teams and tech teams. The whole team today has 35 people, which is a very impressive number.
The founder of iExec RLC is Gilles Fedak. He is the CEO and co-founder. Before starting to work with iExec, he worked as a research scientist at INRIA and as a postdoctoral fellow at the University of California, San Diego and ATER at the University of Paris Sud. He has a doctorate degree. In philosophy and computer science.
Haiwu He is the co-founder and head of the Asia Pacific region of iExec. Prior to this, he served as a professor at the Chinese Academy of Sciences, an innovation transfer research engineer at ENS Lyon, a co-founder of iRentCPU, an INRA research engineer expert, and an assistant professor at Hohai University. He has a doctorate degree. In computational science. This means that iExec is built on the work of team members who conduct INRIA and CNRS research in the field of desktop grid computing.
Two others members of the Executive Team are Oleg Lodygensky, CTO, research-engineer and expert in distribuited computing, and Francis Otshudi, Chief Sales and Marketing.
iExec Values
iExec team share 4 simples but important principles:
Now that we have framed the project thanks to the overview section, let's move on to look at some technical aspects.
DEEPENING
In the OVERVIEW section I introduced you iExec (RLC) and I said that is the leading provider of blockchain-based decentralized computing. Blockchain is utilized to organize a market network where people can monetize their computing power as well as applications and even datasets. The iExec platform is like Amazon S3 or Microsoft Azure, but instead of centralizing all servers in one location, it is broken down into thousands of nodes for off-chain computing for blockchain applications.
How does the iExec RLC protocol work?
iExec RLC uses software called XtremeWeb-HEP. XtremeWeb-HEP is a grid desktop software that bundles all available resources and provides them for dApps and smart contracts. The iExec RLC development team developed this cloud software while studying cloud computing. Therefore, enabling developers to access large computer pools. XtremeWeb-HEP makes application development scalable and free market driven. The grid desktop platform performs all the functions needed to make the project accessible in a global view. These features include robustness, multi-user, multi-application, mixed public/private tools, data management, etc. The smart contract connects the connection between the available host and the customer's needs. Smart contracts use matching algorithms. The matching algorithm tracks resource requests to appropriate resource providers. If the resource is available to process the calculation, then execute it. Otherwise, it terminates. Smart contracts use a contribution proof mechanism to ensure that users get the requested resources.
If you'd like to learn more about the iExec project, here's the link to view their whitepaper: https://iex.ec/wp-content/uploads/pdf/iExec-WPv3.0-English.pdf
iExec Partnerships
iExec RLC has partnered with some important partnerships.
Now let’s check some things about RLC token.
On the 19th of April 2017, RLC tokens were sold out in less than 2 hours and 45 minutes, making it the 5th largest ICO at the time.
RLC stands for “Run on Lots of Computers”. RLC is a is an ERC20 compliant digital asset on Ethereum that provides standard and secure payments. RLC can be securely and easily stored, transferred, traded, divided and used to make payments. Currently 81 million RLC are in circulation allowing businesses to begin their journey in the iExec ecosystem.
After an incredible all-time high in May at 11.65$, RLC dropped to 2.3$-2.7$ zone and now is trading around 4$-5$ zone.
It is too early to judge whether iExec will succeed, but the current progress shows that the team is committed to making it successful. With the combination of knowledge, wisdom and experience, the team has everything needed to turn the iExec platform into reality, and the success of this project will help support the overall success of the blockchain in the future.
With this article about iExec we have discovered new things about this project.
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