“Decentralized Cloud Computing” sounds like a name used to hype up a product, doesn’t it? But don’t worry, there is a feature supporting iExec’s name, and if you’re hearing about the project for the first time, you may be curious about what it is. We will explain iExec and its native cryptocurrency, RLC coin, in this article of Zatrun.com, but first, let’s take a look at some basic information about the project.

As the title of this guide suggests, iExec is a decentralised cloud computing platform. You can think of it as similar to IBM, Microsoft, or Google cloud services. However, it has a feature that sets it apart from others: it is built on blockchain. The platform has a concept similar to projects like Siacoin (cloud storage) and Golem (supercomputing ecosystem), but it uses cloud services for computing power. Its target audience is blockchain users and the growing Dapp ecosystem.

What is iExec (RLC) and How Does It Work?

iExec is a project that offers services similar to Amazon S3 or Microsoft Azure. However, all of its servers are not located in a single centralized location, but in a blockchain consisting of thousands of separate nodes. This way, users can benefit from cloud-based computing power. The use of decentralised cloud computing continues to grow as blockchain ventures emerge that seek to benefit from cost savings and increased efficiency.

iExec has many competitors in the field. Currently, the platform is competing with projects like Siacoin, Storj, Maidsafecoin, and Golem. However, it has a unique feature that sets it apart from others. The RLC coin ecosystem not only supports cloud-based storage but also allows for the use of cloud services for computing power. The platform aims to benefit from the growth of the decentralised application (Dapp) market with this product.

iExec supports decentralised applications and smart contracts, allowing it to transfer computational calculations outside of the blockchain. This ensures that the functions on the chain work seamlessly and efficiently. To run functions more smoothly, the project uses “XtremWeb-HEP,” a popular desktop grid tool. The software pools unused resources that will be used by decentralised applications. XtremWeb-HEP applies features like multi-user, data management, multi-application, fault tolerance, public/private/hybrid infrastructure, and security.

Furthermore, this allows Dapps to utilize all the computational resources in the iExec framework to run programs. Thus, developers and Dapp users can utilize resources that range from small to large. This allows for obtaining high-computational tasks over the cloud at a much lower cost. With its flexible and scalable features, users can find and use the computational resources they need for their projects. The platform has a mechanism called Proof-of-Contribution to ensure that users utilise the resources available.

What is RLC? Is It a Good Investment?

The iExec ecosystem provides a marketplace where users can sell and purchase computing power. In addition, there is a separate platform for trading Dapps and another market where users can sell their data. All of these exist through the project’s native cryptocurrency, RLC, which ensures the sustainability of the network’s economy. Users who wish to do so can earn RLC coin by selling their data on the data market. They can also receive payment in the form of RLC by offering computing power or developing Dapps.

RLC token can be sold on secondary exchanges and converted to fiat currency. This means that when you make a sale on the ecosystem, you obtain a cryptocurrency that has real-world value. This also means that you can generate income depending on the services you offer.

The iExec ecosystem is currently one of the best blockchain projects in “decentralised cloud computing.” Users can easily earn money on the iExec network through computing power, applications, and data sets. The platform does this in a decentralised manner by offering computing resources on demand. As a result, the project, which has gained significant adoption.

RLC is currently ranked as the 180th largest cryptocurrency. It has a market value of $160 million and a trading volume of $32.7 million in the last 24 hours. However, the cryptocurrency is currently trading at $1.97, well below its ATH of $9.6 on November 5, 2021. This means that RLC crypto has significantly fallen from its highest level. Nevertheless, given the current market conditions, this is not a problem with the project. Many assets have experienced significant drops in 2022 and are attempting to recover.