In the age of data, cloud computing is considered the future. A lot of big companies like Netflix and Apple have moved at least a portion of their operations to cloud computing. As data becomes more abundant, it is cheaper to store and operate through cloud computing instead of investing in expensive hardware. Currently, the cloud computing space is dominated by large tech companies like Amazon and Google and a lot of people have reservations with these companies.
The blockchain technology has enabled a revolution in the way we live. One of the crucial use-cases of the blockchain technology is cloud computing. iExec is one such project that aims on decentralizing the cloud computing.
What is iExec RLC?
While iExec RLC is working towards the decentralization of cloud computing, their target is not the same as the existing tech companies. This means the network is not trying to compete with tech behemoths – a great feat in itself. Instead, iExec is striving to provide the same service but for the blockchain industry. Decentralized applications require a lot of computing power to function seamlessly and instead of investing on expensive hardware, the dApps can function through iExec’s cloud computing services.
iExec’s architecture is designed so that the network is able to take intensive computing off-chain – allowing things to run efficiently on-chain. For this purpose, the network employs XtremWeb-HP which is an open-sourced Desktop Grid Software. Desktop grid computing makes use of unused computing resources out of its pool for applications and platforms. The software also makes use of to-of-the-line technologies like hybrid public/private infrastructure, fault tolerance, data management etc. to ensure the seamless operation of the network. With iExec’s revolutionary technology, developers can commission as little as or as large as a resource they want for their applications.
Future outlook
iExec is bringing revolution in how decentralized applications operate on blockchains. The strong fundamentals give it a positive future outlook. Moreover, the development team has also rolled out many interesting propositions that can help boost the adoption of the network. Recently, iExec announced the launch of an Oracle Factory through which anyone can build an oracle in a couple of minutes without any blockchain knowledge.
The estimates of Wallet Investor predicts the price of the cryptocurrency to reach $7.45 in a year’s time while the five-year price projection places it at $20. Digital Coin Price predicts the price to reach $13 by 2026. iExec RLC definitely deserve your attention if you are looking to invest in the underdogs.
