France-based blockchain start-up iExec becomes the latest member of the Linux Foundations project community Confidential Computing Consortium (CCC), which works on developing strategies and technologies for confidential computing. Other members of this community are Alibaba Cloud, Arm, Baidu, Google Cloud, IBM, Intel, Microsoft, Red Hat, Swisscom, and Tencent.
Confidential Computing refers to isolating hardware and software solutions to isolate user data within his computer and prevent access from other cloud servers or applications. It has become critical as most companies are moving from a computing environment to a public cloud. Thus, new technologies are needed to ensure users’ privacy in cloud networks.
As companies shift their computing to the public cloud, it becomes necessary to upgrade security features that ensure privacy and data security are not compromised on the cloud network. Top technology companies, both in the cloud and computer domains, have joined hands to pool their resources to meet these challenges.
iExec is a decentralized blockchain-based cloud-computing marketplace that connects cloud resource sellers with cloud-resource buyers. Thus, it provides scalability, security, and ease of access to cloud computing resources that companies need. It relies on Ethereum smart contracts to create a virtual cloud infrastructure for high-performance computing services.
iExec has an iExec RLC (Run on lots of Computers) token, which is an ERC-20 token. Users will need an Ethereum wallet and hold Ethereum in their wallet, which they can use to buy iExec RLC tokens to carry out transactions on the iExec network.
The potential of the iExec team can be gauged from the fact that it was invited to join the select group of high technology companies in the Confidential Computing Consortium.