How RLC2 Works

RLC2 is the utility token powering the iExec platform, a decentralized cloud computing network designed to provide access to computing resources from across the globe. The iExec ecosystem leverages blockchain technology to connect resource providers and requesters in a secure, transparent, and efficient manner. RLC2 plays a central role as the medium of exchange within this ecosystem.

Decentralized Cloud Computing: The Core Framework

At its foundation, iExec acts as a decentralized marketplace for cloud computing power. Unlike traditional cloud computing services that rely on centralized infrastructures, iExec operates through a network of resource providers offering their unused computing power to the network. This enables iExec to sidestep the inefficiencies and points of failure associated with centralized systems.

Individuals or organizations needing computing resources (referred to as resource requesters) can use the iExec platform to rent these resources. RLC2 tokens are used as payment for the services provided by resource providers. This setup ensures an incentivized, seamless transaction process without intermediaries.

The Role of RLC2 in iExec

RLC2 (or Run on Lots of Computers) is the native cryptocurrency within the iExec network. It facilitates transactions between users and providers and is critical for executing smart contracts on the blockchain. Specifically, RLC2 is used for:

• Compute Resource Payments: Resource requesters pay providers in RLC2 tokens for computational tasks, such as running algorithms, processing data, or hosting applications.
• Marketplace Transactions: RLC2 enables users to buy or sell datasets, applications, and computing power directly on the iExec marketplace.
• Staking for Reputation: Resource providers are often required to stake RLC2 tokens as collateral to ensure reliable service delivery and build trust on the platform.

Data Privacy and Security

iExec employs off-chain computation while ensuring the immutability of transactions through the blockchain. Sensitive data or computations are conducted off-chain for efficiency and confidentiality, while the blockchain is used for recording transactions and enforcing trust via smart contracts. RLC2 is integral to these processes, facilitating payments and staking mechanisms. This hybrid approach ensures both scalability and data security.

Trusted Execution Environments

Trusted Execution Environments (TEEs) are a key aspect of iExec’s architecture. TEEs allow resource providers to process data securely for sensitive tasks. RLC2 is used to access computations performed within TEEs, reinforcing the token’s significance in enabling secure data handling.