iExec is a cloud computing infrastructure project built on blockchain. It acts as a bridge between sellers of cloud resources and people who need to buy them. The goal is to make it possible to access, in a scalable and secure way, the services, datasets, and computing resources that may be required. iExec positions this as a “decentralized future of cloud computing,” offering an approach it describes as faster and more affordable than conventional centralized cloud offerings. The iExec stack is powered by Ethereum smart contracts, and its virtual cloud layer delivers on-demand computing services. With its Proof-of-Contribution consensus mechanism, applications that run on Ethereum can tap into iExec’s computation off-chain, alongside datasets made available on-demand.

RCL is the platform’s native cryptocurrency, used to pay for services provided through iExec, and many products follow a pay-as-you-go pricing model. RCL is an ERC20 token, meaning it can be stored, transferred, traded, and used for payments. The token was first offered through an ICO conducted in April 2017.

What are iExec RLC’s key features and how does it work?

The iExec ecosystem is made up of several products:

iExec Marketplace. Computing-related assets can be exchanged there, similar to how other goods are traded on a marketplace.iExec SDK. Developers can use CLI and JS libraries, and the platform also supports off-chain computation through its cloud.Dapp Store. Decentralized applications built to run on iExec are listed and accessible via the Dapp store.Data Wallet. The Data Wallet helps data providers derive value from their datasets while keeping security at the forefront.

On iExec, there are three types of resource participants:

Application Providers. App creators can earn from apps, algorithms, and other assets on the platform. They can set fixed fees for using their offerings using a pay-per-task structure.Computing Providers. Known as “workers,” these providers can contribute surplus CPU capacity by connecting to the iExec network and renting it out. After that, datasets are made available through the iExec Data Store.Data Providers. Data providers can monetize dataset usage in any form, including datasets and models such as AI-trained models. They can operate alone or team up in a worker pool.

RLC token rewards are used for distribution, and anyone who has the services to offer-individuals or companies-can potentially apply to become a “worker.”

What can RLC be used for?

One example of iExec in practice is eFast. eFast is designed to support smaller investors in improving trading choices by using advanced computation techniques. It uses iExec’s distributed cloud as a virtual computing environment, allowing it to use iExec technology and connect to different data providers connected to the network-for instance, Kaiko.com-to analyze data quickly and efficiently. In this setup, Kaiko.com supplies cryptocurrency exchange data, which can support eFast users who need trading-related information.

Where can you buy RLC?

RLC can be traded on the CEXs and DEXs shown here. Among the most popular venues with the highest liquidity are Binance, CoinBase Pro, and Gate.io. RLC’s price will change based on the exchange selected and broader market conditions. To see the latest and historical RLC market pricing, refer to the price charts on this page.