This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is iExec?

iExec (RLC) is a decentralized, blockchain-based cloud computing platform that connects resource providers and users in an open marketplace. It enables on-demand access to computing power, datasets, and applications, utilizing the RLC token as its primary medium of exchange. The platform aims to provide a scalable, secure, and manageable infrastructure for decentralized applications, leveraging technologies like Desktop Grid computing and Proof-of-Contribution consensus.

How is iExec used?

iExec (RLC) is a decentralized cloud computing platform that connects service providers and users in a blockchain-based marketplace. Here's how it works:

  • Decentralized Cloud Computing: iExec allows decentralized applications (dApps) to access on-demand computing resources and technologies on its cloud infrastructure. This includes servers, databases, SaaS applications, web hosting, and computer farms.
  • RLC Token: The RLC token is the primary medium of exchange on the iExec platform. It is an ERC-20 token with a capped supply of 87 million tokens. Users can purchase RLC on various exchanges, earn it by participating in the marketplace, or provide liquidity for the token.
  • Marketplace: The iExec Marketplace allows service providers to offer their computational resources and users to request these resources. The marketplace uses a matchmaking smart contract to match user requests with suitable providers. Users can place "work orders" that are automatically executed when their criteria are met by providers.
  • Enterprise Marketplace: iExec also has an Enterprise Marketplace designed for businesses, which includes Know-Your-Customer (KYC), Know-Your-Business (KYB), and Anti-Money-Laundering (AML) features for enhanced security and compliance.
  • Proof of Contribution (PoC): iExec uses a Proof of Contribution model to ensure fair and timely payments for computational power. This model also orchestrates contributions to the network and includes a permission mechanism to control access to applications, datasets, and worker pools.

Overall, iExec aims to provide a decentralized, cost-effective, and high-performance computing solution for the blockchain ecosystem and its growing realm of decentralized applications.

How do I store iExec?

To store iExec (RLC) tokens, you have several options:

  1. MyEtherWallet (MEW): MEW is a feature-rich platform that offers secure storage, transfers, and management of RLC tokens. You can use MEW to store and manage your RLC tokens with confidence.

  2. Ledger Nano S: You can also store RLC tokens on a Ledger Nano S. Simply connect your Ledger to your PC or Mac, unlock it, and use MyEtherWallet to manage your RLC tokens.

  3. Trust Wallet: Another option is to use Trust Wallet. You can acquire RLC tokens by purchasing them on a cryptocurrency exchange, then withdraw them to your Ethereum address in Trust Wallet. Ensure you use the ERC-20 network for the transfer. Trust Wallet allows you to view your RLC balance, send tokens, and utilize them for transactions and trades.

  1. Coin98 Wallet: Coin98 Wallet is another platform where you can store RLC tokens. To do this, open Coin98 Wallet, click "Receive" on the home screen, search for RLC Token, and follow the on-screen instructions.

These wallets provide secure environments for storing and managing your iExec RLC tokens.

How to buy iExec?

To buy iExec (RLC) tokens, you can follow these steps:

  1. Create an Account:

    • On Coinbase: Download the Coinbase app and sign up with a valid ID and proof of address.
    • On Binance: Register via the Binance app or website with your email and mobile number.
    • On Kraken: Create a Kraken account and fund it.
  2. Verify Your Identity:

    • On Coinbase: Verify your ID, which may take some time depending on your location.
    • On Binance: Verify your identification to secure your account.
    • On Kraken: Complete the sign-up process and fund your account.
  3. Add a Payment Method:

  • On Coinbase: Connect a payment method like a bank account, debit card, or initiate a wire transfer.
  • On Binance: Choose from options like credit card, bank deposit, or third-party payment channels.
  • On Kraken: Fund your account with a supported payment method.
  1. Select iExec RLC:

    • On Coinbase: Search for iExec RLC in the app or on the website and select it.
    • On Binance: Click on "Buy Crypto" and select iExec RLC from the available options.
    • On Kraken: Select your desired RLC trading pair.
  2. Enter the Amount:

    • On Coinbase: Input the amount you want to spend in your local currency, which will be converted to iExec RLC.
    • On Binance: Enter the amount you want to buy, and you have 1 minute to confirm the order at the current price.
    • On Kraken: Enter the amount you want to trade.
  3. Finalize the Purchase:

  • On Coinbase: Tap "Preview buy" to review the details and complete the purchase.
  • On Binance: Confirm your order and store or use your iExec RLC in your Binance account.
  • On Kraken: Complete the trade with your selected RLC trading pair.

Additionally, you can also use decentralized exchanges (DEX) like Uniswap or SushiSwap by connecting your Web3 wallet and following the trading procedures specific to each DEX.

Discover
iExec
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

History of iExec

Discover
iExec
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

How iExec works

Discover
iExec
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

iExec's strengths

iExec's risks

Discover
iExec
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

Did iExec raise funds?

Discover
iExec
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

iExec’s team

Whalee AI

The fundamental analysis assistant for crypto value investors.

Latest news

Want an analysis of this token? Tell us on Discord