iExec RLC Price Chart Update [RLC]

What is iExec RLC?

iExec RLC is a cloud infrastructure built with blockchain technology designed to run big data and computing applications. The iExec RLC development team provides decentralized applications (Dapps) that can run on the blockchain, with easy access to services and infrastructure. The main purpose of creating iExec RLC is to organize a global P2P market where individuals can rent computing applications and computing resources according to their needs.

Features of iExec RLC

Resource Market

This is where vendors can offer their computing resources in exchange for RLC, and where developers, individuals, and other entities can procure the resources they require to power them. quality for their applications. It includes a matchmaking smart contract that ensures no vendor can provide more resources than they have available.

Essentially, this allows buyers to choose from a variety of machines (CPU, GPU, Trusted Execution Environment), while specifying the level of trust they see fit. Obviously, a higher degree of confidence in the result of a calculation means a higher price.

There is also a reputation smart contract to measure and evaluate the reliability of each supplier. With this system, more reliable vendors will charge higher rates, but users can also choose less reliable suppliers to reduce their costs. This helps to make the market completely free-market-oriented, with prices determined through competition.

dApp Store

Think of it as a decentralized version of the Google Play store, with all sorts of dApps built using iExec RLC available. It's up and running and you can browse and purchase the app now if you want. And if you are an app developer, you can submit your dApp to be listed on the platform.

Data Market

In addition to having a market for applications and resources, there are plans to build a market for data. This will be a place for data providers to sell their data to dApp developers or to anyone willing to buy it. This can be government data, stock market statistics, real estate data, and any other type of data you can imagine.

How does iExec RLC work?

If the platforms hosting the dApps cannot support the demand for computing power, how is iExec RLC expected to provide support for all the computing power of dApps and smart contracts? By removing them from the chain so that all functions on the chain continue to work smoothly.

To do this, iExec RLC uses open source desktop mesh software called XtremWeb-HEP. This application aggregates all available computing resources and makes them available to applications and platforms.

According to the whitepaper released by iExec RLC, IExec RLC can make this a reality on a global scale, including supporting “fault tolerance, multi-application, multi-user, public/private infrastructure aggregation, virtual image deployment, data management, security and accountability, and more.”

In essence, the software makes it possible for any dApp to use any computing resource on the iExec RLC network. This will allow developers to use the massive processing power of a massively sized data center if needed. This will make developing dApps more flexible and scalable, as well as open to the free market. Developers should be able to find the right amount of resources for any project they can dream of.

Unsurprisingly, matching customer needs to store availability is accomplished using smart contracts. Thus, the iExec RLC-based matchmaking algorithm takes requests for network resources and matches them with providers as appropriate. The program looks at each task and decides what computing resources are needed to run the program.

To ensure that users receive the resources they request, iExec RLC uses a Proof-of-Contribution (PoC) consensus algorithm. This is how computing power is the protocol used by iExec RLC to create consensus compared to off-chain computation.

In addition to providing trust, PoCo can also arrange different contributions to the iExec RLC network, ensuring payments are always fair and timely. Finally, it also includes a permission mechanism that can be used to control access to applications, datasets, and worker pools.

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