Ethereum (ETH) has arisen as the baseline for decentralized applications (DApps), smart contracts and an improved foundation for investment, finance and Internet of Things (IoT) services, among other centralized offerings.

However, technology is growing exponentially, making the need for computing resources more prominent than ever before. Yet, it’s hard to access these resources as any other commodities. Application developers or datasets providers, for instance, can be reluctant to lose ownership of their assets or reveal them. To overcome that limitation, they need to rely on a network that addresses the challenges of ownership and trust.

Attempting to define the next step for computing assets is iExec, a protocol that builds a decentralized and privacy-preserving computing infrastructure, providing an opportunity to keep control of their personal information, deciding who can access it, when and under what conditions. With the iExec Marketplace, resource providers can monetize the use of their assets and get paid every time somebody uses them while keeping ownership and privacy of those assets.

With iExec, users are able to share decentralized computing power, datasets, servers and DApps using Blockchain in combination with Confidential Computing, in a secure way. As a decentralized marketplace, a smart contract can act as an escrow to facilitate the transaction of computing assets. The result is that anyone can participate and receive rewards through the company’s RLC tokens.

Other benefits include data providers being allowed to expand their potential market size through integration with the iExec marketplace and server providers to monetize underused resources for an added return. 

To support its growing community, the team has since announced the launch of the iExec Portal, an interface designed for the community. 

Engaging the community

With the Portal, the project team aims to involve individuals in community-related activities through voting. Submitting proposals with the iExec team, users can now have a say in decisions concerning the community. These votes may include an impending AMA session format, distributing rewards or determining future features of the Portal.

In practice, iExec will regularly submit proposals to the community through the Snapshot platform. All RLC holders holding a minimum of 1 RLC will be able to vote following the submission. That said, votes will also be weighted based on the amount of tokens held by a user.

More insights from iExec here

The iExec team also wants to show appreciation to its community for their support by releasing a Community Rewards Program. Each month, the most active community members are recognized and rewarded for their contribution –– from content creation to user feedback — with a reward in RLC.

Tying the Portal interface to the rest of the iExec ecosystem is what the team describes as an “open door” for managing the rest of iExec resources. The iExec Portal will act as a single view into an RLC holder’s portfolio balance, with details on the tokens’ price and offers educational resources on ways to use their tokens.

Users can also access iExec products and programs from this dashboard, including the iExec Oracle Factory, the iExec Developer Reward Program and NFT POAP collectibles. The only requirement is a MetaMask or a Portis wallet.

“With the iExec Portal, we want to offer an open door where anyone can join and benefit from our ecosystem. The iExec Portal will be a place to listen to our community, recognize and reward them for their contributions and help them make the best out of their RLC tokens,” iExec head of adoption Nelly Cornejo shares. 

Laying the foundation brick by brick

Over the last year, iExec has made significant progress towards achieving this goal, which includes the launch of the project’s first product in October 2021. The iExec Oracle Factory was released as a developer interface for custom oracles, distilling the process to less than five minutes, using an API URL and key and requiring no blockchain knowledge. Furthermore, in May 2021, the iExec token was listed on Coinbase, enabling the U.S. market to purchase the token. Coinbase now joins the ranks of 40 other exchanges, including Binance, Bithumb and Huobi, among others.

In preparation for laying the next brick, iExec remains focused on integrating their community in the project’s development through rewards programs even more closely. Through continued efforts, the company is positioning itself as the door to new levels of cooperation where the world at large can benefit from computing assets.

Learn more about iExec

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you with all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice.