iExec RLC is the first decentralized marketplace for cloud computing resources. In iExec RLC, Blockchain technology is used to organize a market network where users can earn money from their computing powers, applications, and datasets. It is reported that iExec can support applications that require intensive computing in areas such as artificial intelligence, big data, healthcare, or FinTech by providing on-demand access to cloud computing resources.
In this article, we will touch on topics such as “What is iExec RLC, iExec token, where to buy RLC coin, how to purchase iExec RLC”.
What is RLC Coin?
RLC coin is the native token of the iExec RLC platform and is used to reward users. The platform defines the RLC token as a “state-of-the-art cryptocurrency.” RLC stands for “Run on Lots of Computers”. Also, the iExec token is characterized as a cryptocurrency that provides standard and secure payments.
Additionally, being an ERC-20 token, the iExec token allows users to easily pay for access to the platform’s resources whenever they want.
The iExec network consists of computing resource providers. These providers, known as “iExec Workers”, can connect their machines as workers and get rewarded with RLC tokens for contributing resources to the network. Application providers can also earn money from their applications and algorithms. Data providers with valuable datasets can make them available for applications through iExec.
On the other hand, iExec’s consensus protocol “PoCo” (Proof of Contribution) achieves consensus on off-chain computing and can also be used to integrate decentralized oracles with iExec.
Furthermore, iExec believes in the power of reliable off-chain computing. Its representative chairs the ‘Trusted Compute Working’ group within the Ethereum Enterprise Alliance. The platform is also known to have partnered with Intel to release a “trusted computing” solution for Blockchain. Other iExec partners include Alibaba Cloud, IBM, Genesis Cloud, EDF electric service company, EEA, and Ubisoft. iExec was also among the contributors to the Trusted Compute Framework (Hyperledger Avalon), along with Microsoft, Intel, ConsenSys, Envision, PegaSys, and Kaleido.
RLC Coin Review
Opinions about iExec RLC seem to vary. While some investors believe purchasing iExec RLC will be very profitable and yield significant long-term returns, others approach the cryptocurrency cautiously.
There were expectations, especially in 2020, that the iExec token could surge, but it’s important to consider that the token was in decline at the time of writing.
iExec RLC on Binance
It appears that iExec RLC’s listing on Binance has made it more popular. As is known, the listing of cryptocurrencies on globally renowned exchanges positively affects both their prices and popularity. This is because major exchanges listing a token is often interpreted as a sign of its reliability, contributed by the strict token listing procedures of these exchanges.
At this point, it would be beneficial to look at the current numerical data regarding iExec. As of the time the article was prepared for publication, the RLC token, trading at 1.20 USD, had a market cap of 96,220,503 USD, placing it at 106th in terms of market value. Additionally, it’s worth noting that iExec RLC reached its lowest point at 0.1487 USD on December 15, 2018, and its record high of 5.40 USD on January 12, 2018.
Lastly, according to CoinMarketCap, there are currently 80,070,793 RLC tokens in circulation, with a maximum expected supply of 86,999,785 RLC.
How to Purchase RLC Coin?
You can securely and easily purchase iExec RLC tokens through Binance, the world’s largest exchange by trading volume.
