RLC is an Ethereum-based token used in the iEx.ec, a blockchain-based distributed cloud computing platform. Developers can rent computing power, servers and data centers and make their unused resources available through a unique marketplace on the Ethereum blockchain. The RLC token allows users to rent servers, data and applications to execute their distributed applications.
|Mkt.Cap||$ 236.81 M||Volume 24H||4.82 M RLC|
|Market share||0.01%||Total Supply||87 M RLC|
|Proof type||Open||$ 2.71|
|Low||$ 2.44||High||$ 2.75|
Through this process, the encryption key becomes the valuable data that has to be protected. In this context, Proof-of-Contribution (PoCo) is the protocol used by iExec for consensus over off-chain computing.
iExec claims to have developed the first decentralized marketplace for cloud computing resources. Blockchain technology is used to organize a market network where users can monetize their computing power, applications, and datasets.
Other iExec collaborators include Alibaba Cloud, IBM, Genesis Cloud, EDF electrical utility company, EEA, and Ubisoft. iExec was one of the contributors to the Trusted Compute Framework (Hyperledger Avalon) alongside Microsoft, Intel, ConsenSys, Envision, PegaSys, and Kaleido.
The trust level corresponds to a minimum correctness likelihood that a result must achieve to be valid. For example, a trust level of 0 means any contribution would be accepted, regardless of the score of the worker proposing it.
In order to transact between multiple parties within iExec, an Ethereum wallet is required. First, you will need to create your Ethereum wallet and credit it with Ethereum tokens (ETH), before running the application. While iExec is in its development phase, we allow transactions on Ethereum’s Kovan Network.
An application can only perform result encryption inside an enclave. No encryption key will be provided by the SMS to an application that doesn’t run outside an enclave. The worker pool must fit the application’s and the dataset’s restrictions (if any). The dataset must fit the application’s and the worker pool’s restrictions (if any). The application must fit the dataset’s and the worker pool’s application restrictions (if any).
It is a decentralized economy of computing power, where one can rent it out or develop and sell software. The economy of DApps is on the rise now, and iEx.ec seems to fit perfectly in it. In total, their five editions of the project planned within four years from the launch date. The last outlined edition will represent a fully distributed platform for Blockchain computing. The iEx.ec project is all about connecting Blockchain technology and cloud computing business.
The tag specifies the need or the availability of features that go beyond the specifications of the category. The tag is a requirement when it is part of an app order, a dataset order or a requester order. On the other hand, the tag in the workerpoolorder express the availability of the corresponding features.
On the other hand, any application could be executed with the PoCo’s trust layer disabled. field point to it, and then whitelisting the applications that will have access to the dataset’s encryption key.
This folder store the secret used for dataset encryption. The iexec.json file, located in every iExec project, describes the parameters used when creating a [app|dataset|category|workerpool], or when signing an order. A directory named “/iexec” is automatically created during run-time. This directory is where your application will retrieve input files, and also where the application stores results of computations.
PoCo is a protocol designed to provide trust in an open and decentralized environment of untrusted machines.
Install the dependency in your JS project
It uses the blockchain to organize a market network where everyone can monetize their servers, applications, and data-sets. This technology extends the Ethereum smart contracts allowing the creation of virtual Cloud infrastructure that provides High-Performance Computing (HPC) services on-demand. Before a worker runs this application, the worker must first prove that its access is legitimate by providing the scheduler authorization. The SMS will verify that this authorization’s signature is valid and that the corresponding task is registered onchain. This means that any deal signed in the iExec Clerk will grant access to the dataset’s encryption key.
The price of RLC token or IExec is always chaining, however, BitcoinWiki gives you a chance to see the prices online on Coin360 widget. #iExec connects applications to distributed ledgers and computer resources. While #iExec is available on Ethereum mainnet, the SDK is being deployed using Hyperledger for the Avalon project.
But the developers of the platform plan to attract "big players" from the world of high technologies in the future. Cointelegraph covers fintech, blockchain and Bitcoin bringing you the latest news and analyses on the future of money. The project’s closest challenger is the Golem Network.
- They developers to expand and develop the network by making it suitable for many developers to participate in.
- While iExec is in its development phase, we allow transactions on Ethereum’s Kovan Network.
- Clients are installed by iEx.ec users on their PCs to interact with the infrastructure.
- The worker pool’s trust must be greater or equal to the requester’s trust.
This network aims at providing companies with scalable, secure and easy access to the services, datasets and computing resources they need. iExec’s technology relies on Ethereum smart contracts and allows for a virtual cloud infrastructure that provides high-performance computing services on-demand. The token is mostly used as means of payment for the iExec RLC platform.
The platform was established to provide affordable and easy to use cloud computing services. The main task of the developers was to create a platform on which it was possible to rent computing power and direct it to solve the problems of decentralized applications. The team of exec RLC consists of professionals in the field of blockchain, cloud computing and business planning. iExec, being blockchain-based, allows you to manage your computing transactions in a secure and decentralized environment.
The iExec RLC platform has a number of significant advantages over other cloud computing services and blockchain platforms in general. At the time of writing this article the project is under development so only planned and proposed ideas are described in the following list. The purpose of this blockchain platform is the distribution of resources of the decentralized network through the exchange between the platform’s users. The creators call iExec RLC the first market of computer resources necessary for application development and computing.
By providing on-demand access to cloud computing resources, iExec is reportedly able to support compute-intensive applications in fields such as AI, big data, healthcare, rendering, or FinTech. The iExec network is made up of computing resource providers. Computing power providers are called ‘iExec Workers’. As workers, users can connect their machines and be rewarded in RLC tokens for contributing resources to the network. Application providers can monetize their applications and algorithms.
One of the most important advantages of the token is that it can be bought and spend using Visa. The XtremWeb-HEP, system developed by the French National Institute of Nuclear Physics and Particle Physics was used in the development of the blockchain network.
iExec SDK CLI fork/spawn
They developers to expand and develop the network by making it suitable for many developers to participate in. Another plan is making the platform attractive to large private and public organizations.
The encryption key must be stored in a SMS and the address of the corresponding SMS recorded in the directory. The SMS stores this encryption key and will only communicate it to an application running in an enclave.
SDK CLI for Requesters
If you intend to bridge RLC from a chain to another (mainchain to sidechain or sidechain to mainchain), you must set bridgeAddress and bridgedNetwork options. The iExec SDK is a CLI and a JS library that allows easy interactions with iExec decentralized Marketplace in order to run off-chain computations. The smart contracts used for the iExec decentralized network have been publicly audited by ChainSecurity, ensuring functional correctness, compliance, and absence of security vulnerabilities. Thanks to the worker, a machine deployed on the Internet will be able to join the iEx.ec network and execute client’s tasks. one ormore Services are maintained by system administrators to host services such as the ‘Scheduler’, the ‘Result Collector’ and the ‘Bridge’ between the iEx.ec infrastructure and the Ethereum Blockchain.
optional key bridge set the bridge used by the SDK cli when working with bridged networks (sidechain). With the platform, iEx.ec aims to provide blockchain based distributed applications a scalable, secure and easy access to the computing resources required for their execution.
The energy consumption of various information centers will be reduced by the provided redistribution of computing tasks over the platform. This will reduce both the energy consumption and the need of manufacturing new gear for such facilities.
iExec is working with various organizations and consortiums with the goal of providing scalable, secure and easy access to the services, datasets, and computing resources. IExec RLC cryptocurrency is a digital token of the iExec RLC platform.