iExec is a cloud computing blockchain-based infrastructure. It connects cloud resource sellers with buyers. The platform aims to provide scalable, secure, and easy access to any potential services, datasets and computing resources that are needed. As such, iExec claims to be the “decentralized future of cloud computing” as it offers a faster and cheaper alternative to traditional centralized cloud services. iExec technology is developed on Ethereum based smart contracts on which its virtual cloud infrastructure provides on-demand computing services. iExec’s Proof-of-Contribution consensus mechanism enables applications running on Ethereum to leverage its computation services off-chain, as well as datasets on-demand.

RCL is the platform’s native cryptocurrency and is used as a payment method for the services provided on the iExec platform, most products are available in a pay-as-you-go manner. RCL is an ERC20 token standard and can be stored, transferred, traded, or used for payments. The token was originally sold via ICO in April 2017.

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

The iExec ecosystem consists of a suite of products:

iExec Marketplace. Computing assets can be traded, like any other commodity, on the iExec Marketplace.iExec SDK. CLI and JS libraries are available for developers to use. Off-chain computations are also enabled from the platform’s cloud.Dapp Store. All decentralized applications running on iExec can be found and are available in the Dapp store.Data Wallet. The Data Wallet allows data providers to earn value on their datasets whilst retaining maximum security.

There are three different resource providers on the platform:

Application Providers. App developers can monetize their apps, algorithms, and other assets on the platform. These providers can set fixed fees for the use of their services following a pay-per-task model.Computing Providers. Computing providers also called “workers”, can make use of their excess CPU power by renting it by connecting to the iExec network. Datasets are then available for use through the iExec Data Store.Data Providers. Providers of data can earn from monetizing dataset usage. Any form of data can be monetized on the platform. Including datasets, or models including AI-trained models. Data providers can work individually, or join a worker pool.

Rewards are distributed in RLC tokens, and anyone can be eligible to become a “worker”, both individuals and companies, as long as they have the necessary services to offer.

What can RLC be used for?

An example of the iExec technology in use is with eFast. eFast aims to help small investors to optimize their trading decisions via using advanced computational methods. As such, eFast uses iExec’s distributed cloud as a virtual computer. It can leverage iExec’s technology and connect to various data providers linked to the network, for example, Kaiko.com, and quickly and efficiently analyze its data. In this case, Kaiko.com provides cryptocurrency stock exchange data which can benefit the users of eFast who require trading information.

Where can you buy RLC?

RLC is available for trading on the following CEXs and DEXs listed here. The most popular platforms with the highest liquidity are Binance, CoinBase Pro, and Gate.io. The price of RLC will vary depending on the choice of exchange and overall market conditions. For up-to-date and historic data for RLC market price, please view the price charts on this page.