iExec (RLC) is a decentralized cloud computing platform that allows users to rent computing power, data, and applications in a decentralized marketplace. By utilizing blockchain technology, iExec enables the creation of a marketplace where developers, data providers, and resource providers can interact and exchange computing resources. Its native token, RLC, is used to facilitate transactions within the ecosystem.
iExec operates on the Ethereum blockchain and uses smart contracts to manage transactions between computing resource providers and users. Developers can use iExec to access decentralized cloud computing power for their applications, while resource providers can rent out their unused computing resources. The platform allows for the execution of off-chain computations, making it ideal for applications that require significant computing power. RLC tokens are used to pay for services and resources in the marketplace.
iExec has a wide range of use cases, including providing decentralized computing resources for applications in artificial intelligence (AI), big data, scientific research, and more. It can be used to process large-scale computations off-chain, provide cloud computing resources to dApps, and offer data and computing services in a decentralized marketplace. Enterprises and developers can benefit from using iExec for scalable, secure, and cost-effective cloud solutions.
iExec was founded in 2016 by a team of cloud computing experts, led by Gilles Fedak and Haiwu He, to solve the limitations of traditional cloud computing by leveraging blockchain technology. The platform launched its native token, RLC, through an initial coin offering (ICO) in 2017. Since then, iExec has continued to develop its platform, adding features to support decentralized computing and forming partnerships with various enterprises to expand its use cases.