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info_docs_depin/docs/depin_specs/compute_networks/iexec.md
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iExec Detailed information about iExec 4

iExec

Overview

iExec is a decentralized cloud computing platform that allows users to rent out their computing power for various tasks. It leverages blockchain technology to create a peer-to-peer computing marketplace.

Key Features

  • Currency: RLC (iExec Token)
  • Buying Currency: Available on exchanges like Binance and Kraken.
  • Utility:
    • Used for network transactions and incentivizing computing power sharing.
    • Staking rewards for network validators.
  • Automation:
    • Smart contracts automate computing tasks and payment processing.
  • Utility in the Project:
    • Users can earn RLC by renting out their computing power.
    • Validators can stake RLC to secure the network and earn rewards.
  • API: Yes, iExec provides an API for developers to integrate with their applications.
  • User Perspective:
    • Users can easily rent out their computing power and earn RLC tokens.

How It Works

  1. Step 1: Users connect their devices to the iExec Network.
  2. Step 2: The network matches users who need computing power with those who have it.
  3. Step 3: Users earn RLC tokens based on the amount of computing power provided.

Staking

  • Staking Requirements: Minimum of 10,000 RLC tokens to become a validator.
  • Rewards: Validators earn a percentage of transaction fees and block rewards.

Documentation

For detailed documentation, visit iExec Docs.

Additional Resources