History of RLC

RLC, known formally as iExec RLC, originates from the iExec project, a decentralized cloud computing network that was founded in 2017. The project aims to revolutionize the cloud computing industry by implementing blockchain technology. The team behind iExec RLC consists of seasoned professionals with backgrounds in distributed computing, cloud infrastructure, and blockchain development.

iExec was initially conceptualized by Gilles Fedak and Haiwu He. Both founders bring extensive expertise in their respective fields. Gilles Fedak spent over a decade researching and working on distributed systems and cloud computing, while Haiwu He directed research concerning parallel and distributed computing efforts. Their combined knowledge helped launch iExec’s distributed framework as a competitive alternative to traditional centralized cloud services.

iExec RLC was designed to leverage blockchain technology to offer decentralized computing resources. It allows individual users, developers, and organizations to rent computing capacity from network participants. The core vision was to give users access to trusted and scalable computing power without relying on centralized providers like Amazon Web Services or Google Cloud.

The first milestone in the development of iExec RLC was the launch of its Initial Coin Offering (ICO) in 2017, which attracted attention from blockchain enthusiasts and those interested in decentralized computing. In this ICO, the project raised over $12 million in funding. These successful fundraising efforts provided the necessary capital for further development and platform enhancements.

By capitalizing on Ethereum’s blockchain, iExec built an infrastructure that relies on its marketplace, allowing users to buy and sell computing resources in exchange for RLC tokens. However, despite its forward-thinking roadmap, the project has navigated several technical and market-based challenges. The emergence of competing solutions, coupled with the inherent difficulties of bridging decentralized technology to mainstream use cases like cloud computing, posed significant hurdles.

Over time, iExec has managed to roll out numerous updates to its platform, demonstrating the utility of decentralized cloud solutions across various industries, including artificial intelligence (AI), big data, and healthcare. They also integrated features like secure decentralized oracles, which has attracted some partnerships and limited adoption across strategic sectors.

RLC continues to seek ways to further establish its place within the broader blockchain ecosystem, especially with increased interest in decentralization from enterprises looking for alternatives to traditional cloud computing architectures.