March 16th, 2017 at 8:04 pm UTC · 4 min read
The distributed cloud computing platform, iEx.ec has announced the schedule for its upcoming cryptocurrency crowdsale. The token sale will go live on April 12, 2017, at 1300 (GMT). Through this crowdsale, the project aims to raise funds required to create a distributed cloud environment to meet the rising need for computationally intense and decentralized business practices.
iEx.ec is looking to raise a sum of $2 million through the upcoming crowdsale, which will be used to cover iEx.ec’s development and launch costs. Participants in the crowdsale can contribute in BTC or ETH to become eligible for RLC tokens, the native currency for the iEx.ec cloud network. The platform’s launch is set for some time later in 2017 along with off-chain computation capabilities to support distributed applications (DApps).
The iEx.ec Business Network
The iEx.ec system works by tethering computers together to create one giant network of computing resources. The use of this technique, referred to as Desktop Grid Computing has so far been restricted to academic institutions. Now, with the introduction of blockchain technology, iEx.ec is making this type of network computing open and available for public and enterprise use.
The Ethereum blockchain, specifically smart contracts, act as a management system for the network. It allows users to monetize their participation, automating payment transactions for the give and take of services. Unlike existing cloud providers, business on the iEx.ec cloud can take place securely and without any central authority.
iEx.ec aims to create a native environment for a new generation of businesses to thrive. As CEO and co-founder Gilles Fedak explains;
“The simple truth is that centralized cloud services are falling behind current demand for computing resources. The iEx.ec team knows this through our work at the leading edge of distributed and cloud computing. With blockchain we see how a new paradigm of cloud computing is not just possible but absolutely essential, to meet the current needs of cloud SaaS, PaaS and IaaS markets, and to meet the needs of the next wave of innovation such as High Performance Computing, Artificial Intelligence, Internet of Things, Blockchain Computing and other forms of distributed business. “
The iEx.ec cloud sets in motion a network for computationally intensive and decentralized businesses but in the spirit of open access, the iEx.ec cloud platform will be free for anyone to join. Rather, it’s revenue model will center on a range of premium features for enterprise users. The team plans to release a set of ready-made smart contracts to help users get started.
iEx.ec has been under development for over a year now. In that duration, the core team consisting of distributed and cloud computing experts, blockchain developers, business consultants, and marketers have grown. Earlier last month, the iEx.ec team released a proof of concept where anyone can submit computation to the cloud via blockchain. The iEx.ec project is led by well-respected researchers, Gilles Fedak (Ph.D.) and Haiwu He (Ph.D.) who have worked at the highest levels of their specialisms in distributed computing, HPC and cloud systems design.
Fedak explaining the team and platform’s strengths said,
“iEx.ec is a natural progression for us. We have a unique experience in designing and establishing real distributed computing infrastructures such as the European Desktop Grid Infrastructure and supporting the most demanding scientific applications like the CERN. Furthermore, we have a long history of industrial partnerships with Airbus, Total, BNP Paribas, Orange and many start-ups as well. From these experiences, we have come to understand where the commercial opportunity lies, and what’s more important is that we know how to get there. We will be first to market with the distributed cloud since our tech is already well developed and we are super excited to release it to the world.”
Gilles Fedak will be presenting iEx.ec at the BlockchainUA conference in Kiev on March 17, 2017. Another presentation will soon follow at the Berlin Blockchain Expo scheduled on June 1 and 2, 2017.
The upcoming iEx.ec crowdsale will run until May 12, 2017 (1300 GMT) with a 20% bonus for early investors.
Disclaimer: iEx.ec is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.