iExec RLC $RLC

iExec RLC is a ground-breaking open-source, decentralized cloud computing platform that operates on the Ethereum blockchain. This platform allows decentralized applications (dApps) to access computing resources and technologies on iExec cloud whenever required. By building a blockchain network, iExec ensures that dApps can utilize cost-effective and high-performance resources such as servers, databases, SaaS applications, web hosting, and computer farms. The native cryptocurrency of iExec — The RLC token, short for "Run on Lots of Computers", is the primary asset utilized for accessing services in the iExec infrastructure.

About the Founders

iExec is based in Lyon, France and was founded by Gilles Fedak and Haiwu He, who serve as the Chief Executive Officer and Head of Asian-Pacific Region of iExec, respectively. Gilles Fedak obtained his PhD from the University of Paris Sud in 2003, and has been working as an INRIA (Inventeurs du Monde Numerique) research scientist at ENS in Lyon, France. Haiwu He, on the other hand, completed his M.Sc. and PhD from the University of Sciences and Technologies of Lille, France. iExec also has Oleg Lodygensky as the Chief Technical Officer.

iExec Token Sale

On April 19, 2017, iExec initiated its token sale and was successful in raising more than $12 million in exchange for 86,999,784 RLC.

The Role of iExec in dApps and Smart Contracts

iExec plays a pivotal role in supporting dApps, smart contracts, and their platforms. It offloads processing-intensive computations off-chain to ensure the smooth running of a blockchain's on-chain functions. To make this possible, iExec employs XtremWeb-HEP, an open-source Desktop Grid Software. This software, also referred to as Volunteer Computing, pools unused computing resources to be utilized by applications and platforms. This enables dApps to leverage any computing resource in the iExec framework to run their programs.

Competitive Landscape

The iExec team's whitepaper offers a detailed explanation of the project's competitive landscape. It clearly differentiates iExec from decentralized cloud storage providers like Filecoin, Storj, and Siacoin, establishing that iExec is not a storage platform, but a computing