Review on iExec RLC by Fabrizio Zampieri
iExec is a platform for decentralized cloud computing (we can think to IBM or…
iExec is a platform for decentralized cloud computing (we can think to IBM or Microsoft cloud services but broken up into multiple nodes for off-chain computing of blockchain applications).
In order to support dApps, smart contracts, and their platforms, iExec takes processing-intensive computations off-chain so as to keep a blockchain’s on-chain functions running smoothly. To do this, iExec makes use of XtremWeb-HEP, an open-sourced Desktop Grid Software. Desktop Grid computing (also known as Volunteer Computing) pools unused computing resources to be used by applications and platforms, and according to iExec’s whitepaper, XtremWeb-HEP “implements all the needed features” to make this possible on a global scale, including “fault-tolerance, multi-applications, multi-users, hybrid public/private infrastructure, deployment of virtual images, data management, security and accountability, and many more".
Summarily, with this software, dApps can utilize any computing resource in the iExec framework to run their programs. This means that developers and dApp users can commission processing power from a resource as small as a PC’s CPU to as large as a warehouse-sized data center.
iExec accomplishes this service matching using its smart contracts.
In order to ensure that users are getting the resources they need, iExec uses a Proof of Contribution model. This consensus algorithm makes sure that a provider provisions the computational power needed by the user, and it rewards this provider with RLC, iExec’s token, in return for these services.
iExec’s platform includes its marketplace, dApp store, and data marketplace.
iExec’s core team consists of very professional and expert people (six PhDs, four of which have been working in cloud computing since the early 2000s); Gilles Fedak, Haiwu He, Oleg Lodygensky, and Mircea Moca, have experience working at INRIA and CNRS developing programs for Desktop Grid computing. iExec is the product of their collective experience.
iExec RLC is an ERC20 token, so it is possible store tokens on an Ethereum compatible wallet (MyEtherWallet, Nano Ledger S, Meta Mask, Exodus, Laxx, and imToken).
Pros
- - If iExec functions as intended, it could scale exponentially as more providers and computing resources join the network. - This project could open the door for scalability solutions, sustainable dApp support, and future blockchain adoption. - It also provides a greener alternative to current cloud computing models, as resources are only used when they’re needed and in a less energy-intensive manner. - Strong and expert development team.
Cons
- - Similar competitors projects (but not direct): Golem (supercomputing), SOMN and Siacoin (cloud storage), except iExec using cloud services for processing power.
