iExec RLC PriceRLC

What is iExec RLC (RLC)?

It is a cryptocurrency platform founded by Gilles Fedak and Haiwu in the year 2016. It is basically a decentralized cloud platform that works in blockchain technology. Its main aim is to provide users with a place where they can use their computational power. It enables people to use its computing resources or lend their idle computing resources to the network. It has some of the best features and technologies that helps it to provide security, transparency and scalability to its users and this is what makes it unique among the other digital coins. It even has a wide range of potential use cases which will be discussed in this article. 

What Makes iExec RLC Unique?

This network enables users to either lend their computational resources or use its available computing resources. In both ways the users can just connect their machines with this network and can earn RLC tokens in the form of rewards.  It uses a special mechanism known as PoCo which helps in off-chain computing. It provides high-performance computing services, cost-efficiency and decentralized cloud infrastructure. 

What is the Technology behind iExec RLC?

To provide users with a secured, transparent and scalable platform this network uses some of the most robust technologies that acts as a backbone of this network. They are discussed below: 

• Blockchain Technology 

It uses Ethereum blockchain technology to provide a decentralized and secure network. These blockchains allow the users to use their computing power. It  enables smart contracts to make an agreement between the one who is lending their computing resources and the one who is using it. 

• Proof-of-contribution 

This network uses PoCo as its consensus mechanism. The work of this mechanism is to make sure the users are contributing their computing resources to the network. This helps the network in rewarding the users accurately. 

• Smart Contracts 

It uses smart contracts which are self operated contracts where the terms are written in the form of codes. The smart contracts look after the smooth interactions and transactions between the lenders and users of computing resources.

What are the Features of iExec RLC?

Following are some of the many features this platform provides to its users. The developers of this network have designed these features to benefit the users. They are as follows: 

• Eco-friendly 

One of the best features of this network is its eco-friendly approach. It enables and encourages the users to contribute their idle computing resources to the network which reduces the energy consumption problems. 

• Security 

Security is the biggest concern of cryptocurrencies. This network puts a lot of emphasis on this aspect. It uses blockchain technology to provide complete security and transparency. 

• Decentralized 

This is a decentralized cloud computing platform. It eliminates the need for centralized authorities. Thus enabling users to trade their computational resources in peer-to-peer. 

Potential Use Cases of iExec RLC 

It is a decentralized cloud computational platform. This is because it provides computational resources to users that can be used in almost every industry.  Some of its use cases are listed below. 

• Financial Sector 

It can be of great use in the financial sector. The main reasons for that are that computational tasks like risk analysis, algorithmic trading etc can be performed by this platform. It will even provide transparency and security to many financial services. 

• Healthcare 

This network can be very useful in the healthcare industry. With its decentralized computational power it can be used as drug discovery simulations, for medical research and many more tasks. 

• Artificial Intelligence 

Artificial Intelligence requires huge computational resources thus this network can be used in such researches. 

Where Can You Buy iExec RLC?

Many cryptocurrency exchanges like Binance, Bittrex, Uniswap V2 etc trade this cryptocurrency.  To Aqui this token you can follow the below mentioned steps. 

• Crypto Exchange Search

Search for a reliable and secure cryptocurrency exchange that supports this token. 

• Account Creation 

Create your account on that exchange by finishing the necessary KYC verification process. 

• Fund Deposit 

Deposit funds into your account and place purchase orders for the required amount of coins. 

Check Coin Credited 

When the purchase order gets verified your account will be credited with the requested amount of coins. 

• Safe Wallet Transfer 

Transfer the coins into safe wallets for avoiding any kind of threats and hacking.

Future of iExec RLC 

Due to the following reasons it seems that the future of this digital currency is very bright.

• Better Chances of Future Prospects 

The steady development, adoption and proper transactions are some of the main factors that are reasonable for the future growth of this network. 

• Wide Traction Currently

Its technology, features and wide range of use cases have made it possible for the network to achieve a considerable amount of traction.

• Expert Developers 

The development team is working continuously to bring more innovations in the network and for its widespread adoption. 

Conclusion 

This network provides decentralized cloud computational resources. Thus almost every industry would benefit from them. With its innovative features and strong technological foundation it allows users to use and lend computing resources.  The  network is working constantly to earn a prominent position in the cryptocurrency market. It even has a bright future ahead. 

We have gone from pillar to post to provide you this information. In a similar fashion, we would suggest you to do an extensive research from your end before you decide to invest in this cryptocoin.