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iExec Announces Imminent Release of World’s First, Blockchain-Based Decentralized Cloud Marketplace

Blockchain startup, iExec, has announced the imminent launch of its decentralized cloud marketplace for the trading of computational power by users like any other tradable commodity. The first-of-its-kind marketplace directly connects cloud providers, individual market traders, and corporate entities seeking to harness more computational power without the hardware cost.

Blazing the Trail for the Evolution of Cloud Services

iExec’s simplification of access to cloud services allows providers to optimize the use of all available computing resources, enabling them to seamlessly scale up their projects with ease. This critical feature alongside its cryptographical storage of data and decentralized access to stored information is the backbone behind a series of partnership between the company and leading service providers including China-based TFCloud, Cloud&Heat, Stimergy, and Nerdalize.

These partnerships heralds the beginning of a groundbreaking new, marketplace network where anybody can provide, acquire, and trade computing power just like any commodity.

A Unified Ecosystem

Powered by Ethereum blockchain, iExec is making cutting-edge computing power easily accessible to the global community through its autonomous smart contracts that ensures valid and secure exchange of values between traders and buyers. The platform incentivizes developers to provide access to their decentralized apps through a proprietary Proof-of-Contribution (PoCo) algorithm. PoCo allows counterparties to establish trust without any prior contact through its verification of off-chain computation.  

Users get to fix the prices rate for the resources they are offering the market, defining the rate for the execution of computing ‘’work order’’on the commisionless platform without the need for intermediaries.

Moving the Ecosystem Along

iExec has developed its platform to ensure the utmost transparency in all exchanges, while affording startups a scalable solution for their ventures. The seamless ecosystem allows users to securely place “work order” based on certain predefined categories that is then matched with the “sell orders” of cloud providers.

Nerdalize, Cloud&Heat, Stimergy, and TFCloud will be the first official “workers” on the platform when it launches with more to soon follow suit.

Securing the Future

To mitigate against cyber attacks and crimes, iExec recently launched a research program tackling the issue head-on. The first series of results from the research was officially released alongside leading tech giant, Intel, at the NYC Consensus event, 2018. The talented development team were also at the acclaimed Blockshow Europe in Berlin were they unveiled how their native RLC tokens will fuel the marketplace. iExec has also recieved support from Ubisoft at Station F in Paris (also known as the largest startup campus), who are now accelerating the development of the startup.

Buoyed by recent development, the company has revealed its plans to will give back to its community through  a “Worker Contest” designed to generously reward individuals who integrate their sharing devices on iExec network through RLC tokens.

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