iExec RLC Price Prediction

The idea was to enable a network of computers to perform computations that could compete with supercomputers. If a network of computers cannot directly compete with supercomputers, it makes sense for the network to work together and do the same calculations. All of this is achieved at a relatively lesser price than building a supercomputer from scratch. But enough about supercomputing.Let’s learn about exciting iExec RLC projects formed just a few years ago and are now offering unique and essential solutions that can help build the future of computers and decentralized applications in the coming years. The current market dominance rank of #165 isn’t much to make it attractive crypto. So let’s take a look at the iExec RLC price prediction and its historical price analysis, find the most reliable price projections, and see how this digital coin price is doing. So let’s begin!

What is iExec RLC?

iExec RLC is a leading provider of blockchain-based decentralized computing. The iExec RLC decentralized marketplace connects resource providers with resource users. This enables anyone with the computing resource to monetize and rent out computing powers to those who need those resources, whether it be for complicated calculations or handling large data sets.

The CEO and co-founder of the iExec RLC project, Gilles Fedak, was a researcher in parallel and distributed systems and knows how cloud computing works. This knowledge, combined with the cryptocurrency market model, allowed the founder to find a new way of creating a solution for a problem that has existed for decades now.

The iExec ecosystem includes four main values it strives to deliver. This is decentralization, innovation, creating a sustainable environment, and freedom to create, innovate, and contribute to creating a better world. By aiming to provide decentralized applications running on blockchain networks with computing power, the blueprint of iExec RLC was definitely headed to become a useful tool in the blockchain computing space.

The iExec RLC also relies on XtremWeb-HEP, which is an open-source Desktop Grid software. This software implements a layer of necessary features, including fault tolerance, multi-users, hybrid infrastructures, public structures, multi-applications, data management, and accountability. It also deploys virtual images in addition to the above features. The project also aims to create a new and improved Proof of Contribution (PoCo) protocol.

This will enable off-chain consensus, and external resources will have the certified usage resources on the network itself. The iExec RLC creates a secure infrastructure that can promote distributed governance and provide a high-performance and scalable network. It won’t be a big surprise in the coming years if every DeFi application out there starts to use the iExec RLC resources for their own computations.

Features of iExec RLC

One interesting thing you might know is that RLC stands for “Run on Lots of Computers.” The resource providers on the network all accept RLC tokens for payments for using the resources or computational power. There are several features of the iExec RLC cryptocurrency. Some of these are:

• Simple: Users can easily use the RLC coin to access the computing resource and make the transaction using the RLC tokens on a pay-as-you-go basis.
• Secure: The token is an ERC-20-compliant digital asset on Ethereum. This means that the quality of security standards is maintained by being compliant with ERC-20.
• Adaptability: The iExec RLC coin is widely circulating, with around 83 million, allowing businesses to use iExec cloud resources.
• Access: The RLC coin can be easily accessed, stored, transferred, traded, divided, and used for making transactions or payments.

Use Cases of iExec RLC

The use cases of the iExec network are quite impressive. Because of the nature of the iExec cloud platform, it has several use cases in many industries. In 2017, iExec RLC solved the trust issue in smart cities by giving an infrastructure that can support machine-to-machine transactions and autonomous services. In 2018, it made it easier for anyone to deploy their own decentralized Oracle.

This enables developers to use terabytes of data available on Web 2.0 to create a range of useful and impactful dApps without compromising security. In the same year, it created the iExec decentralized marketplace where anyone can obtain computing power. This was done using state-of-the-art blockchain technologies that offered trust and traceability.

The project has also introduced the TEE technology, also known as Trusted Execution Environment, and used it in the Kaiko price feeds. The BirdieBlue is another tool that tracks the market sentiment towards a crypto asset. The AI module uses machine learning and artificial intelligence to perform sentiment analysis, using the iExec decentralized cloud to track Twitter comments.

In 2020, the iExec created the Websensors, the PoCo protocol, that guarantees the off-chain execution of each computation. This is highly useful in the context of making powerful, scalable dApps.

Benefits of iExec RLC

The iExec RLC token is used for payment for using the cloud-computing resource. The current limitations of blockchain computing can be overcome using the benefits of the iExec RLC. It allows virtual cloud infrastructure that provides high-performance computing services on demand. The distributed cloud drastically reduces the environmental carbon footprint of the data centers and enables the network to run cost-effectively while simultaneously providing high performance.

The traditional cloud infrastructure is limited and cannot fulfill the requirements of dApps that need a fully decentralized cloud infrastructure. The computing power required to run big data applications is mainly provided by HPCs or High-Performance Computing infrastructures; however, these are complex and expensive.

This means that innovative small businesses can’t use the expertise to acquire HPXs, while traditional cloud infrastructures such as AWS are expensive for demanding computations like GPU rendering. Thus traditional cloud services offered are essentially useless for the dApps. There is a need for a new mechanism to turn decentralized applications into a profitable investment or venture, and this is where the iExec network can be beneficial.

1. For Developers
   As a developer, it is possible to use iExec RLC to overcome limitations set by blockchains. This can be done by executing computations on a distributed infrastructure.
2. For Providers
   Those with extra resources can monetize it by simply renting out their computing power and executing tasks on the requested applications.
3. For Token Holders
   One can trade and speculate on the RLC cryptocurrency whenever they identify a trend as a token holder. It also has scalable products. Some of these are:
   • iExec Marketplace
     The iExec has introduced a new paradigm for computing assets. Now, it is possible to trade the computing resource on-demand, just like commodities, enabling price discovery and being available to anyone while being accessible and increasing in value.
   • iExec SDK
     The iExec has CLI and JS libraries for developers to execute off-chain computations. These computations are performed on the decentralized cloud to overcome Ethereum’s limitations, like it was barely scalable, expensive, and relatively slow.
   • dApp Store
     The dApp store features decentralized applications powered by the iExec. It has enabled developers to monetize their dApps and improve their visibility completely. And thanks to the marketplace, users can access these applications and execute them.
   • Data Wallet
     Resource and data providers are now in control of monetizing the datasets and AI model datasets while preserving high-security standards.

Using new technological solutions, the iExec creates a new standard and excellent integrated services that can help small startup businesses. They bring computing resources to those in need, regardless of their size, or their financial condition, to a fair market. They also use a unique consensus protocol and technological solutions and do not just chase the highest price offering for their services.

The future can depend on the iExec, as it is here to provide computing resources to anyone in need. We believe that the timing is perfect for the decentralized cloud infrastructure. The convergence of multiple factors has created an optimal scenario for a platform like iExec to take off. Some of these trends are simply that the smart contracts have reached the point where they can improve only by integrating something like iExec infrastructure.

The emergence of PoW tokens has also resulted in a vast pool of computing resources. With something like iExec, the supply side can be taken care of. One other trend is that distributed applications have shown their potential to be helpful in the future, as they have become quite significant in terms of performance. This can help them scale up nicely in the future, making platforms like iExec and the token quite lucrative and useful.

iExec RLC Technical Analysis

The current price of iExec RLC is $1.40, with a market cap of $113,473,389. The price today has increased by more than 6% compared to yesterday. The fully diluted market cap is $122,138,952, and the circulating supply is 80,999,785 RLC from the total supply of 86,999,785.

2021 was a great year for iExec RLC and most other cryptos. RLC coin created an all-time high of $16.26 on May 10, 2021, whereas the all-time low of the token was at $0.1488 on Dec 15, 2018. Compared to the ATH, the current price is low by 91.38% and is high by 841.85% compared to its ATL.

Long-term investors can start purchasing the token’s price when it trades near support levels, which will ensure that the investor is not exposed to a higher risk. Currently, the coin is trading above the upper Bollinger Bands, which shows active engagement among the RLC traders. Also, long-term investors can increase positions over the coming years to reduce the cost basis of the token and slowly accumulate more RLC coins at a lower price.

iExec RLC Price Predictions: 2023-2030

The following iExec RLC price predictions were obtained using historical data. Technical analysis has also been integrated into the results to improve the accuracy and find the best iExec RLC forecast results. That said, our predicted values may not always be the same as the future price.

These RLC price predictions and the technical analysis should be used just as a tool to supplement your own trading strategies. The iExec RLC forecast should not be interpreted as financial or investment advice. There is no future price projections model in the world that has always predicted prices perfectly.

Even the most popular technical indicators cannot give you an accurate decision about buying or selling. You should be aware of the cryptocurrency market risks and try to find out your own way of conducting smart technical analysis in your crypto trading journey and study the best price prediction contents.

With all that in mind, let’s start with the iExec RLC Price Prediction for the long term!

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