Decentralized cloud computing sounds like a stunning aggregate of buzzwords used to hype up a product, doesn’t it? Don’t worry, iExec has substance to returned up the buzz, and if this is the first time you’ve heard about the project, that makes sense–the group isn’t huge on hype.
iExec is a platform for decentralized cloud computing, so suppose IBM or Microsoft cloud offerings however broken up into more than one nodes for off-chain computing of blockchain applications. It’s a comparable idea to Golem (supercomputing) and Siacoin (cloud storage), except it’s using cloud services for processing power. Its goal
target audience is the blockchain realm itself and its budding ecosystem of dApps.
The State of Cloud Computing
Before we break down how iExec functions, it’d be useful to seem at centralized cloud computing as it stands today.
Cloud computing has rapidly become an industry standard for groups that favor get right of entry to to processing strength barring having to hold luxurious technological infrastructure. two Companies like Netflix, Apple, Etsy, and Xerox, for instance, control some (or all) of their applications and statistics with cloud computing from organizations like Amazon, Google, IBM, or Microsoft. two The reason is simple: if these agencies already have tens of hundreds of servers to guide data-intensive computations, why now not outsource their processing power? two Simply put, these services give groups get admission to to in any other case luxurious resources.
iExec wants to supply the equal service, however they favor to decentralize it. The market for this industry used to be $22.4bln in 2016, and it’s projected to attain $55bln by using 2026. two More or less, the big players have cemented themselves as reliable providers, so why would iExec strive to disrupt an industry that seems set-in-stone?
The simple answer being, they’re now not making an attempt to. Instead, they prefer to be for decentralized functions what famous cloud computing offerings are for legacy businesses: the one-stop useful resource for blockchain cloud computing.
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