The decentralized Cloud network iExec has released its first Software Development Kit (SDK) product during Devcon3 in Cancún, Mexico. The service will enable blockchain applications to access an affordable, scalable, transparent and secure off-chain computing Cloud. Several other announcements were made during the conference keynote of CEO Gilles Fedak, including the first App Store for decentralized applications and a new research programme.
iExec has been focusing on building the first blockchain-based decentralized Cloud computing platform for some time and the release of its first SDK product at Devcon3 Conference follows months of stellar work by the iExec development team. The announcement is seen by the company as its first major goal on its roadmap to eventually create a future decentralized economy by providing a unique platform for unlimited computing power to blockchain applications.
iExec is also creating the first decentralized marketplace for Cloud resources (servers, storage, applications and data sets). In April 2017, the company published its official white paper, detailing its plan to bring its vision to market. The team remains perfectly on track and has been delivering on schedule and up to promise. iExec is often known as the Airbnb for servers as its platform automatizes peer-to-peer interactions among users and providers in a safe, secure, transparent, and trustworthy blockchain experience.
On November 3rd, Gilles Fedak, PhD, CEO and co-founder of iExec, made several major announcements during his keynote speech at Devcon3's Ethereum Developer Conference:
- Thanks to this first release, the developers are now able to overcome the limitations of the blockchain in terms of storage and computing capacities. By relying on the iExec SDK (Software Development Kit), developers can deploy and execute complex applications from the blockchain. This innovation, called "off-chain execution", allows them to broaden the application usage of Ethereum and address an important scalability issue which is the high processing cost of "on-chain execution".
- In addition, developers are now able to earn RLC tokens by renting their applications on the blockchain. iExec has announced that developers will also be able to promote their business on the first App Store for decentralized applications. The targeted sectors are applications focused on AI, Big Data, IoT, fintech, and green IT. All the major digital trends could be powered by the platform.
- Being very product-oriented, iExec has already started working with companies in order to see concrete deployments of its platform. The first proof-of-concept will be in finance. iExec wishes to stay at a cutting-edge level: PhDs are working on the state-of-the-art design of a proof-of-contribution protocol (PoCo) and on secure and trusted execution of off-chain computations.
During his address, Gilles went on to outline the company's recent progress, stating: "This first version of iExec shows that we are able to overcome several limitations from the blockchain technology. We are proud to release this product only six months after the start of the project. It opens new perspectives for decentralized businesses and new opportunities for developers and start-ups."
Blockchain is the technology powering Bitcoin. It is the best way to assure traceability and transparency during digital transactions without the need of a third party. A blockchain is a chain of blocks recording and time-stamping each transaction. Ethereum is the second generation of blockchains, which can be programmed thanks to smart-contracts.
The massive transformational goal of iExec is to provide the computing solution to each digital entrepreneur developing remarkable ideas on the blockchain. Indeed, iExec aims to create the platform providing unlimited computing power to blockchain applications that want to create the future of the decentralized economy.
The technology behind iExec leverages more than 15 years of work from its founders Haiwu He and Gilles Fedak, who have published more than 80 scientific papers in the pioneering field of Desktop Grid and Cloud computing. iExec released RLC tokens in April 2017, during an Initial Coin Offering (ICO), raising the equivalent of 12 million dollars in less than 3 hours.