iExec is a French/Chinese company and they're trying to create a decentralized cloud marketplace with all the numerous benefits that come with it. Blockchains philosophy is decentralisation in general. Every blockchain platform would like or want to have a source of computing power to empower their future DApps, platforms, etc.
It's best to see iExec as the backbone of the future of blockchains. Just as tcp/ip is to the internet. Ofcourse a very optimistic thought, but a sense of truth to it.
So the question is yes! Chinese blockchain companies will need iExec! If they don't, they'll have to rely on centralized ways or use the current cloud providers. Which are very centralised.
tbh it's kind of painful to watch BTC trying to remain relevant. It's becoming a system of bolted on codes and hacks, not to mention all the wasted PoW. Newer 3rd gen blockchains fix all of this and are superior so why not shift to these...
I know it’s built on ETH now, but iExec recognises multi blockchains are required to execute smart contracts. Seems like iExec have long term plans to expand their smart contracts to be compatible with more platforms, not just ETH & RSK. Small steps though, ETH was the obvious choice for the iExec startup
Paper projects mostly or very specific use cases. The copy/paste trend is quite high in this as well. The market is filled with vaporware after all. Most of those projects will never see the light of the day. Im quite positive about that.
I do understand why the market is getting more crowded though. Computing power is a necessity for running anything on a blockchain platform. Nobody wants to rely on centralised cloud servers when blockchains are supposed to be decentralised. It ruins the whole idea.
Blockchains systems, similar to P2P systems in the early 2000, take their roots in the non academical research. After the releasing of the most popular blockchains (Bitcoin or Ethereum) with a specific focus on economical transactions, their huge potential for various other applications ranging from notary to medical data recording became evident.
Microsoft only made a profit this Q4 thanks to their cloud computing businesses. Think about that for a second. IExec knows what's up, and so do their enterprise partners like Intel, Ubisoft, tfcloud or the EEA. And let's not forget the French Senate or the smart city project in China... etc. Both the cloud computing market and the blockchain market are growing faster then most. If you can't see the profit in this you're focused on short term nonsense/price-action in this current bear market.
Every DApp will need computing power to be able to do more then just basic value transactions on blockchain platforms. The more advanced they become, the higher the demand will be. iexec is a potential necessity for the future of all Blockchains because it's agnostic. A potential standard in the technology of the future.
Finally, the value chain also includes banks and credit card processors as key players in the cryptocurrency value chain, as they play a very active role in developing closed or permissioned blockchains, like Enterprise Ethereum Alliance100, Hyperledger project101, R3 Consortium with Corda102, UBS bank and its Utility Settlement Coin (USC)103, JP Morgan and its Quorum project104 or Ripple collaboration with Santander Bank and American Express105. They keep relations with central banks and regulators as a way to provide their own solutions to the cryptocurrency world.
Yes of course. To date, iExec is Ethereum + RSK (that is Bitcoin, so to speak)) + ETC (#ImeanWhyNot) + most of Ethereum-like permissioned structures compatible. The team has fully integrated the exploration of the few relevant tech proposals in the air claiming to be some form of blockchain. We just don’t have time to test each and every one of them.
In the long run, Satoshi knows which blockchains iExec will be compatible with. What I know is that you will need RLC to access the computing power available on the network, potentially bigger than any other ‘blockchain’ 😉
For example: Microsoft Azure uses Proof of Authority (PoA)
POA network uses 2 tokens POA Bridge (permissioned) and POA20. (permissionless)
POA token transfers value in the POA network to POA20 (public Erc20)
(BlockScout sets a new standard for blockchain exploration tools by providing detailed insights for users looking to verify transactions on the Ethereum blockchain, sidechains, and private chains. )
PoA was proposed by a group of developers in March 2017 (the term was coined by Gavin Wood) as a blockchain based on the Ethereum protocol. It was developed primarily as an answer to the problem of spam attacks on Ethereum's Ropsten test network. The new network was named Kovan and is the primary test network available to all Ethereum users today.
Polkadot is a multi-chain framework that supports interoperability between wildly different chains with different properties, including encrypted proof-of-authority chains, suitable for internal enterprise networks.
RSK aims to create Bitcoin smart contracts and, currently, the sidechain allows scalability that reaches up to 100 transactions per second but, thanks to the implementation of Lumino technology, could reach 20,000.
GDPR compatible on permission blockchain: Organizations can deploy Fortanix SDKMS appliance nodes in a distributed manner. In each case, the Fortanix SDKMS cluster delivers centralized key management capabilities to any blockchain application or any device.
GDPR compatible on permissionless blockchain: The verification of the enclave using Intel Attestation Server is specific to SGX, and introduces some form of centralization. However, other attestation approaches are being developed and will be considered in the future. Still, once a secure communication channel is established between the enclave and the scheduler the logic stays the same. Therefore, the on-chain part is agnostic of the actual enclave technology, meaning iExec should support any enclave technologies in the future.
Source # PoCo Series # 4
Blockchain and the GDPR :
we propose four rule-of-thumb principles that entrepreneurs and innovators can consider: 1. start with the big picture: how is user value created, how is data used and do you really need blockchain? 2. avoid storing personal data on a blockchain. make full use of data obfuscation, encryption and aggregation techniques in order to anonymise data. 3. collect personal data off-chain or, if the blockchain can’t be avoided, on private, permissioned blockchain networks. consider personal data carefully when connecting private blockchains with public ones. 4. continue to innovate, and be as clear and transparent as possible with users.
Containers and microservices run independently, meaning less time spent on daily management. Developers can work without worrying about scaling and other problems associated with VMs.
Containers, faster than VMs, run directly on top of an OS kernel. This means they are lightweight and easier to move. Additionally, containers can be divided into unique sections with varying access controls.
Orchestration is quickly becoming a requirement for container management:
Orchestration technologies automate the deployment and scale-up of containers; they also ensure the reliability of applications and workloads that are carried out on containers.
Orchestration is the automated arrangement, coordination, and management of computer systems, middleware, and services.
The biggest strength of iExec is that they have a powerful plan and work this out at an incredibly fast pace with the best people in the team and around it.
To connect the Dots:
"Blockchains are being used to create autonomous computer programs known as" smart contracts, "to" expedite payments "," to create financial instruments, to organize the exchange of data and information, and to facilitate interactions between humans and machines. " , by supporting new organizational structures that promote democratic and participatory decision making. "
"Setting up this technology comes with an inherent complexity, as a concept that is underpinned by partnership and collaboration, the need for middleware that supports integration, correlation and analytics as well as driving and governance.
"Intel SGX helps create a trusted execution environment where applications provide their own security, allowing these apps to run in a secure enclave." This allows customers to use cloud services to maintain their own apps while still working in an untrusted cloud. "
The biggest goal is now: to increase the relevant context of public and private applications for chain interoperability and ecosystems on all chains.
I wondered: Public permissionless or private permissioned blockchains set up nodes to verify transactions / smart-contracts with a consensus algorithm. But then the following: Opening up a network where the token works as a utility. Yet there are certain networks open where you unnecessarily endanger the user (application or data in any form) or participant in connection with the security that the network can not promise. What about regulation standards? The context that can be shared or edited can have author rights or GDRP requirements. The fact is that iExec in WD1 & 2 has rendered an image of the RLC icon. In a centralized or decentralized infrastructure, the rules remain the same, it seems to me. Or how do you think about it? Is there still too little support from a regulated side for public workers to work? I know that certain standards are being imposed by the EEA and will work as a guideline on the regulatory level.
Yes, iExec implements multiple SGX options in their decentralized cloud. one solution would be centralized and Hadrien explained in the PoCo series. A central database is no problem for private blockchains. But this E2E encryption must find its way in a decentralized environment. SCONE is a working solution. IBM / Fortanix will certainly follow these months. Intel PDO and Graphene will also follow.
About that private/public blockchain discussion. I think every single enterprise and company will want to go public with their private or consortium chains in the (near)future. For the same reason companies prefer the open internet above the closed Intranet. Internet was designed as a decentralized platform from the get-go and that's where all the good stuff happened before the big cloud companies took over. Nevertheless the technology created on top of the internet are the standards we use today.I believe enterprises won't stick with their private blockchains, because they lack the potential to grow and evolve further then the public ones.
A permissioned blockchain has a Byzantine Fault Tolerant and transaction blocks are validated using other forms of consensus mechanism.Private blockchains score significantly better than public blockchains and network parameters such as network congestion and transaction costs are known in advance.Nevertheless, I believe that many private blockchains will continue to exist and will be able to bring their task into a transaction in the public chain. The Hub that interconnects with both chains in an E2E encryption.IMO: Databases want to integrate in a confidential environment in order to provide quick access to aplications.Databases will certainly contribute to decentralization of trusted compute but in an effective way.The disadvantage of a private blockchain is blockchain that has an access control layer built into the protocol. This means that you have control over who can join the network, and who can participate in the consensus process of the blockchain.Centralized communication with connected nodes.In order to develop all existing private chains into public chains in time, I do not think there is any added value compared to:* Origin and intention.* Centralism towards large power databases and connected nodes.* Public blockchain is difficult to secure against Private chains.* Developments run parallel in private and public chains.* Development takes time and energy and knowledge. This period is expensive and must be used properly.
My 2nRLC is that public chains will be used mainly as settlement layers, as a decentralized network. However, most enterprise will be utilizing private blockchains for most thoroughfare. Centralized agents that ultimately settle in a decentralized manner.
I have a long date view with iExec. I see enormous potential to become part of the infrastructure of other projects and other blockchains, offering not only computational power but also mechanisms for scalability of other blockchains. The more audacious projects like stellar, neo, elastos, vechain, qtum, ... can become future iExec partners. But this my personal opinion. What is fact is the growth capacity that the project has to expand.
Consensus algorithms, permissioned, permissionless blockchains. Communicating between chains is now the most important thing.TEE algorithms & Parachains & Bridges that are used to create a network of networks. Every layer of the network has its task and there are many parties in this cooperation. This is the reason for the Through Joint Associate of The Enterprise Ethereum Alliance and The Linux Foundation. And iExec leads this consortium in Scalability through the EEA Off-Chain Trusted Compute Specification V0.5 and define the standards of implantation or Ethereum enable solutions.Let's say that this group has more knowledge about business than SONM and GPU possibilities to lease computer power. But am also curious about a response from the Team.😛
I can send you the best for more information to:https://iex.ec/faq/There are many articles about iExec written with a lot of information including:https://www.ironwoodresearchgroup.com/report/12https://londonletter.org/iexec/https://hackernoon.com/blockchains-need-iexec-the-market-just-hasnt-realized-it-yet-5597c743cd0ahttps://youtu.be/SLZ_3bdyO2M
User case and potential in the market compared to SOV and DLT (Short the banks etc.😈) vs Distrubed Trusted Compute platform that is in full developed in interconnection with Public, Private, and Consortium blockchains. (stack)
https://medium.com/iex-ec/iexec-project-update-05-december-2018-895f2232b19aOn company financesYes, the cryptocurrency market has been bearish for some time now. Some companies are laying off, some are restructuring, and others are having severe financial problems. Some have posed the question of how iExec is currently doing ‘money-wise’ in the midst of current market conditions?We’d like to reassure you that we are funded and have enough treasury to carry out our development, and progress in our roadmap.Why haven’t we sold more/all of our ether? We’ve sold enough to be able to build and ship up to our promise. Our token sale was conducted early on and, at current prices, we simply don’t consider it optimal to sell more ether.iExec has strong faith and confidence in Ethereum, and we contribute to its further democratization through our various initiatives under the EEA umbrella. What market caps don’t show is that the Ethereum ecosystem is stronger than ever, as numbers and stats confirm.Moreover, apart from token price appreciation, iExec has multiple business models under study. From premium offerings to consortium blockchains, generating revenues and becoming a profitable company is one of the goals of iExec.Current prices are not stopping us from building. We will continue striving for a new cloud computing paradigm and wish other projects the best of luck.
I am wondering if there are other functions than merely as a medium of exchange on the marketplace. Things that would incentivize holding of the token (example: proof of stake blockchains get a huge emergent marketcap value boost through the tokenomics incentivizing holding it as a stake as a validator in order to recieve returns, drying up supply on exchanges)
What is EOS better than Enterprise blockchains such as R3, quorum, Sawtooth, Hyperledger that also have applications / fintech and a consortiom to regulary banks and institutions in a private conscencus?
This is going to be proven over time. The only thing you can do is to take as many technical aspects and possibilities in user cases as possible in which this company / project can take its place in a consortium. Let us remain real when it comes to blockchain technology that existing infrastructure will be integrated in time. So definitely take a study in existing private consensus blockchains. When it comes to swap / burn / brigde chains from private to public, the enterprise companies are very cautious. This is about trust, safety, scalability, decentralization & usercase. After all, it is a new revenue model for collaborations and at the same time competition from each other. Both will not be possible without each other.