IExec RLC cryptocurrency is a digital token of 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.
The iExec name stands for "I Execute". 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. The developers of the iExec RLC platform offer their services to independent developers, private and public organizations to share computing power for any purpose. However, iExec RLC mostly focuses on users who do not require the enterprise-grade amounts of computing power.
The iExec RLC platform is based on the Ethereum technologies, and supports the Ethereum-based smart contracts. But the developers of the platform plan to attract "big players" from the world of high technologies in the future.
The iExec RLC platform was initially created for decentralized applications (Dapps) developers. 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 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 platform provides an opportunity to use large amounts of unused computing power to make it of some utility for important projects.
- Another advantage is the reduction of costs for research and development of various dapps.
- The platform can provide a significant impact on the safety of the environment. 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.
- The Proof-of-Contribution protocol. The protocol requires users to perform a number of useful actions to perform transactions within the network. It means that a user should participate in the development of the network before he/she could use it for his/her purposes. Proof-of-Contribution is combined with the use of Proof-of-Stake, giving priority to users who have made a greater contribution to the development of the system iExec RLC.
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. The system allows one to create virtual machines based on a distributed network, has a built-in protection against errors and hacking, is multitask and suitable for calculations of any complexity.
The Team of the project have participated in the developments related to distributed computing, are holders of many degrees, and over the past ten years have made a significant contribution to the development of this industry. The team leaders of the project were part of a team that performed calculations on the launch of The large Hadron Collider.
The project was founded by Gilles Fedak, Ph.D and Haiwu He Ph.D, who are current CEO and the head of Asian-Pacific Region respectively. Oleg Lodygensky, Ph.D. is the current CTO of the project and Lei Zhang, Ph.D. is its cryptography expert. The business development team is managed by Jean-Charles Cabelguen, Ph.D. - the project’s Chief of Innovation & Adaptation.
Token & ICO
RLC token is a ERC-20 token. The token is mostly used as means of payment for the iExec RLC platform. One of the most important advantages of the token is that it can be bought and spend using Visa. The total amount of issued tokens is 87 Million.
iExec RLC (RLC) price and market performance online via CoinMarketCap:
The iExec RLC’s ICO was initially planned to happen from April 12, 2017 to May 12, 2017. However, the sale was over in only 2 hours and 45 minutes. 60 million tokens were sold and 10 000 BTC were collected.
The iExec RLC token is not minable. It can only be bought or exchange.
The iExec RLC token can be traded on the following exchanges:
See Also on BitcoinWiki
- The official website of iExec RLC project
- Bitcointalk: iExec RLC announce
- iExec Twitter
- iExec on Reddit