RLC, short for “Run on Lots of Computers”, is an ERC-20 token and native token of iExec, a cloud computing platform that enables decentralized applications (dApps) to access cloud technologies and resources.
In order to deliver improved performance and stability, iExec uses an open-source Desktop Grid software called XtremeWeb–HEP to pool together unused computational resources, which are assigned off-chain to dApps that require processing-intensive computations. By assigning these computations off-chain, the platform preserves on-chain performance and usability.
As a layer-2 side-chain on Ethereum, iExec utilizes Ethereum’s Proof-of-Work (PoW) consensus mechanism. In order to validate off-chain computations, the iExec RLC network relies on a Proof-of-Contribution (PoC) consensus mechanism.
The iExec network’s computing power comes from Resource Providers, which can be broadly classified into three categories: App Providers, Data Providers, and Server Providers. Users can apply to rent their computing resources to the iExec cloud computing platform. In exchange, they receive RLC tokens, which can be traded on digital asset platforms like Binance.US, or spent to access computational resources on the iExec platform.
What is iExec (RLC)?
RLC, short for “Run on Lots of Computers”, is an ERC-20 token and native token of the iExec cloud ecosystem. The token is used as a medium exchange for dApps looking to access computational resources on the iExec platform.
How to buy iExec (RLC) on Binance.US
Buy iExec (RLC) with Bank Transfer (ACH), Debit Card, or Wire Transfer.
Deposits and withdrawals are now open for RLC.
Note: This article was last updated on April 12, 2022. Deposits for RLC first opened on April 11, 2022 at 5 a.m. PDT / 8 a.m. EDT. Trading opened 24 hours later, along with the "Buy Crypto" functionality.
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