My Initial Thoughts about iExec($RLC)
Recently I have joined the iExec community as an ambassador candidate & started learning about the project although I am following the project from 2020 bull run but back then it’s more about price action rather than fundamentals, but now it’s more about learning projects fundamentals & believe me as I am learning more & more about the project the more I start believing in the projects future & vision. So in this article I will share my initial thoughts and what I have learned so far about the project in brief without going deep in every concept. I may miss some concepts as I am still learning about the project.
Decentralised Web3 infrastructure
In today’s world where many projects are trying to benefit from the Web3 evolution, there are only a few projects which are building for a better Web3 ecosystem and iExec is one of the projects that is doing so, iExec is building a marketplace where you can trade Computing assets in a decentralised manner, where anyone with computing assets can use the iExec marketplace to sell that to the person who needs it.
But why are decentralised computing assets important for web3??
We have imagined Web3 a truly decentralised ecosystem which which fully controlled by the users not the providers & computing needs are the crucial part of any web development, if web3 projects use Computing power from centralised players of the industry it doesn’t make any sense as it will count in web2 like we are using it today. That’s why in my opinion we need decentralised Computing for web3 that we have imagined.
For more information on Marketplace you can visit:- iEx.ec/marketplace
When I said iExec is building Decentralised infrastructure for Web3 I mean it, Oracles are one of the crucial parts of every DeFi product which has been built on blockchain. Because blockchains are incapable of transferring data from the real world that is why they need an oracle which intermediate the need of data from real world to dapps, but oracle should be trusted as they play important role in data delivery if they failed the consequences can be bad for users, that’s where Decentralised Oracle from iExec comes in which don’t relay in any centralised authority and get double checked before any data delivery to Dapps. To learn all about this you can read this article about DOracles by iExec.
iExec is building a shared economy where everyone can participate without any censorship. $RLC is a token of the iExec ecosystem which fuels the economy where everyone has the equal opportunity to participate. If you have any extra computing assets which you want to sell for some passive income you can register on iExec marketplace, on the other side you need computing assets but you don’t have enough money to create complete set offline you can trade that computing assets from iExec marketplace at fraction of cost till your requirement is done. From this economic model everyone benefits.
For now I have tried to write an brief article about iExec you may ask what about cNFT, so there are still so many things which are under-development from iExec like Confidential NFT (cNFT) which will give you ownership of your privacy in the world web3 but as I am still learning about will talk about that in some other articles. In my opinion iExec is a kind of project which needs more attention from the community as it still counts in small cap projects.