iExec RLC Price Prediction: Can RLC Hit $5?
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Table of Contents
iExec RLC Fundamental Analysis
RLC is an ERC-20-compliant token native to the iExec network, which is a project dedicated to building a decentralized cloud infrastructure to provide computing resources for dApps. The iExec ecosystem includes:
- iExec Marketplace, where the resources are traded;
- iExec SDK for dApp developers;
- dApp Store for the apps built on the iExec infrastructure;
- Data Wallet to help data providers sell their information.
The project is premised on the limitations of the existing computing solutions. On the one hand, the traditional cloud services offered by companies like Amazon can’t provide the level of decentralization required by many dApps. Besides, cloud services are quite expensive and often aren’t affordable even for those enterprises where decentralization is not essential, like research projects or small startup businesses. The blockchain infrastructure like Ethereum, on the other hand, avoids those limitations, but in its current state, it’s slow, costly, and barely scalable, which hinders the spread of dApps since those require more and more resources as they grow in complexity. So, iExec’s purpose is to bring computing resources to those who need them on an on-demand basis. Those resources are provided by the network’s users called Workers and pooled together to form a distributed cloud. Workers are compensated for their contributions with iExec RLC tokens. High scalability and security are ensured by the use of Domain Specific Sidechain and by the unique consensus protocol called Proof-of-Contribution.
iExec RLC Live Price Chart
After RLC came to market in the spring of 2017, it was mostly trading at ~$0.5-~$0.7. This situation changed in January 2018, after the iExec mainnet went live. At that point the price surged to ~$3.7, later going back down and then up to ~$2.2 again in May 2018. By the end of that summer, however, the RLC coin’s price had experienced a correction and then later fell even lower than the 2017 level, hovering around $0.2-$0.3 for most of the following two years. Then, as the general interest in the blockchain projects rose, so did the iExec RLC price, entering 2021 at ~$0.7. In the first months of 2021, the price kept rising, reaching its peak at stunning $16.26 on May 10, following the iExec’s announcement of the upcoming grants for the developers. Since then, the token’s price has been in sharp decline, reaching ~$2.8 in late June 2021. However, this price level is still higher than the RLC’s average performance, and many experts making RLC price forecasts remain optimistic.
