What is iExec RLC (RLC)?
Future of RLC Cryptocurrency and know how to buy RLC

#1- What is iExec (RLC)?

In recent times, there has been a massive growth in the usage of blockchain technology. People are transitioning from traditional databases to blockchain tech, and why not? Blockchain does provide a secure and transparent platform for many uses. While the blockchain has many advantages, it suffers from issues such as limited computing capabilities and therefore scalability. iEXec aims to solve this problem by creating a cloud computing infrastructure where decentralized applications can access various cloud computing services.

iExec (RLC): The Basics

  1. iExec is an open-source, decentralized cloud computing platform, running on Ethereum blockchain. iExec allows decentralized applications (dApps) an on-demand access to computing resources and technologies on iExec cloud.
  2. iExec has built a blockchain network where dApps can take advantage of cost effective and high-performance resources such as servers, databases, SaaS applications, web hosting and computer farms.
  3. iExec’s native cryptocurrency — The RLC token is the primary asset used to access services in iExec infrastructure. RLC is short for “Run on Lots of Computers.”

Development of iExec

  1. iExec is headquartered at Lyon, France. It was founded by Gilles Fedak and Haiwu He, both are serving as Chief Executive Officer and Head of Asian-Pacific Region of iExec, respectively. Oleg Lodygensky is the Chief Technical Officer.
  2. Gilles Fedak received his PhD from the University of Paris Sud in 2003, and has been working as INRIA (Inventeurs du Monde Numerique) research scientist at ENS in Lyon, France. Similarly, Haiwu completed his M.Sc. and PhD from the University of Sciences and Technologies of Lille, France.
  3. On April 19, 2017, iExec launched its token sale and raised more than $12 million in exchange for 86,999,784 RLC. The token sale is currently the 6th highest ICO of all time.

 

#2 - What are the benefits of iExec (RLC)?

iExec Technology

  1. iExec relies on XtremWeb-HEP, an open-source desktop software developed at CNRS (Centre National de la Recherche Scientifique) and INRIA.
  2. XtremWeb-HEP grants all essential features to iExec: public and private hybrid infrastructure, virtual image deployment, multi-applications, data management, etc.
  3. iExec is built on Ethereum blockchain which enables it to use smart contracts for coordinating the access of computing resources to dApps.
  4. These smart contracts contain information about the nature of computing resources - such as disk space, amount of RAM and CPU type.

Key Features of iExec (RLC)

  • Innovative: iExec has created an innovative platform where the use of Big Data and High-Performance Computing (HPC) applications is possible.
  • Accessible: High-performance computing is an expensive service and complex in nature, but iExec has enabled on-demand access to computing resources available on the iExec platform.
  • Perfected: iExec relies on a mature software, XtremWeb-HEP, which has been around for about 10 years. The software has performed well in many areas such as aeronautics, signal processing, finance, high energy physics, etc.
  • Affordable: iExec runs on Ethereum blockchain which enables direct peer-to-peer interaction between resource providers and resource consumers. Ethereum blockchain eliminates involvement on any third party, thus essentially lowering the cost.

 

#3 - How to buy & store RLC?

How to buy RLC?

iExec pre-minted a fixed number of RLC tokens before its token sale in April 2017 so RLC mining is not supported on the iExec platform. Users can have RLC tokens either by providing computing resources or through trading on a cryptocurrency exchange.

  1. RLC tokens are available for trade on various trading platforms, some which are recommended on iExec’s website are: Binance, Bittrex, Bancor, Ethfinex, HitBTC, Liqui, etc. Most markets have chosen BTC to pair with RLC, followed by ETH as the second most paired option.
  2. Of course, instead of spending lots of time on different websites to compare rates and searching for the best option, users can head to CoinSwitch and save time.
  1. CoinSwitch is the largest cryptocurrency trading platform which provides users the facility to compare and trade cryptocurrencies all in one single place. Users can compare more than 300 cryptocurrencies across all exchanges and get the best rate available.

How to Store RLC?

  1. RLC token is based on the ERC20 token model, so it can be stored on all ERC20 compatible wallets, iExec has recommended Jaxx, MyEtherWallet, and Metamask.
  2. Other than web wallets RLC tokens can also be stored on hardware wallets such as Ledger Nano S or mobile wallet like imToken.

 

#4 - What is the future of iExec (RLC)?

Trend so far

Also Read: Complete Analysis of iExec RLC | Live iExec RLC (RLC) Price Charts And Predictions

  1. As of June 2018, RLC has a market cap of over $55 million, placing it on 140th position in the global cryptocurrency market. About 80,070,793 RLC are in circulation from the total supply of 86,999,785 RLC.
  2. The RLC cryptocurrency started trading at an initial price of $0.283100, on April 20th 2017. An immediate rally in its price was observed. During June 2017, RLC price touched the $1 mark.
  3. On January 13th, 2018 RLC reached at $4.80 which is its highest price point so far. Since then, its price has seen fluctuating at around $1. As of June 2018 however, RLC has dipped and trades at a price of about $0.696.

Price History

Date

Open

High

Low

Close

Volume

Market Cap

Jun 01, 2018

1.71

1.72

1.58

1.63

3,044,930

136,809,000

Apr 01, 2018

0.840895

0.855931

0.786098

0.816648

566,410

67,331,100

Jan 01, 2018

1.37

1.93

1.31

1.93

7,856,410

108,522,000

Oct 01, 2017

0.528643

0.530388

0.472112

0.514427

693,382

41,800,200

Jul 02, 2017

0.523526

0.557320

0.504527

0.543880

234,679

41,395,600

Apr 20, 2017

0.283100

0.295189

0.256380

0.283555

151,637

-

Support and Regulation

  1. iExec have scored a major partnership with the leading computer chipset manufacturer—Intel. This partnership will allow iExec to use Intel SGX technology for improving the security of its decentralized cloud computing platform.
  2. Another important partnership that iExec has bagged is with Ubisoft, a renowned name in the gaming industry. This will allow both companies to collaborate for exploring the opportunities of integrating Blockchain Technologies and Augmented Reality into the gaming industry.
  3. Other than the above mentioned partnership iExec has partnered with some other business entities such as Ethereum Alliance, Nerdalize, Stimergy and RSK.

 

#5 - How is RLC different from other cryptocurrencies?

  1. iExec is based on Ethereum blockchain, ensuring secure and transparent peer-to-peer transactions. It is a platform where dApps can use resources on-demand from iExec cloud computing infrastructure.
  2. RLC token is an integral part of iExec cloud computing platform, unlike many other cryptocurrencies which only allow p2p transactions.
  3. On the iExec platform, RLC tokens are used for accessing computing resources. Resource consumers pay RLC tokens to resources providers for using their computing resources.

 

#6 - Should you invest in iExec (RLC)?

  1. Since its inception, iExec has had a relatively stable performance in cryptocurrency market, given some price fluctuations here and there. As of June 2017, its price is at about $0.696 compared to its launch price of $0.283100 during April 2017.
  2. iExec has already gained some major partners such as Intel, Ubisoft, Ethereum Alliance, Nerdalize, Stimergy and others. And since blockchain technology market is at its peak and still growing, iExec’s business model promises a lot of potential for growth.
  1. During April 2018, iExec was chosen as Red Herring Top 100 Europe winner from about 1,200 companies. Alex Vieux, CEO of Red Herring, has praised iExec for its vision, drive and innovation.
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