Distributed Cloud Computing Platform iExec Joins the Enterprise Ethereum Alliance

The Enterprise Ethereum Alliance (EEA) wants to connect Fortune 500 enterprises, startups, academics, and technology vendors with Ethereum subject matter experts. “Together, we will learn from and build upon the only smart contract supporting blockchain currently running in real-world production – Ethereum – to define enterprise-grade software capable of handling the most complex, highly demanding applications at the speed of business,” states the EEA website.

Store of Value recently published a short EEA explainer, noting that the EEA wants to create open-source standards for corporations to develop their own Ethereum implementations, while ensuring that applications built on Ethereum-derived platforms will run on all Ethereum platforms.

Many high-profile banks and financial operators, which have joined the EEA, are listed in the EEA news page. Now iExec, a next-generation distributed cloud computing project built on Ethereum, is joining the EEA. The announcement claims that iExec is “the distributed cloud platform for the future internet,” and praises the EEA vision.

In April Crypto Insider covered the iExec (I Execute) project, a next-generation Ethereum-based distributed cloud computing platform, and its plan to launch a crowdsale to fund its “distributed supercomputing on demand” system, which will use the Ethereum blockchain to organize a global P2P market, where everyone can rent computing resources and applications – a sustainable ecosystem for open grid computing, with paying clients and paid providers.

Later in April, Crypto Insider reported that the iExec crowdsale for RLC tokens, the native currency of the iExec distributed grid computing network, started on April 19 and ended… on April 19, after raising its target funding of 10,000 bitcoin in less then three hours, (more than $12 million in less than three hours), and breaking previous token sale records.

READ  Crypto Altcoins May Tumble as BTC Dominance Looks to Break Key Resistance

“iExec is proud to join the EEA to establish collectively the next generation IT infrastructure that will power Ethereum Dapps and beyond,” said iExec co-founder Gilles Fedak.

The iExec announcement notes that the EEA seeks to augment Ethereum, enabling it to serve as an enterprise-grade technology, with research and development focused on privacy, confidentiality, scalability, and security. The EEA will also investigate hybrid architectures that span both permissioned and public Ethereum networks.

“The simple truth is that centralized cloud services are falling behind current demand for computing resources,” said Fedak. “The iExec team knows this through our work at the leading edge of distributed and cloud computing. With Ethereum 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.”

“iExec aims to create a decentralized cloud and set up a marketplace for computing resources,” reads Fedak’s summary of the iExec vision. “It is designed for distributed Blockchain-based applications (DApps) with plans to evolve into a market network for decentralized computing products and services.”

For a more detailed outline, please see our previous interview with Fedak.

Image from Pixabay.


The above is to be considered opinion and not investment advice in any way, as an unbiased media, no one interferes with the Editorial content of CryptoInsider.com, writers have freedom to choose their own direction, members of Crypto Insider do not participate in trades based on content.

Like what we wrote? Donate to us today so we may continue to write!

ETH: 0xDf4d2529D777a80717E85Ed2269830ad6265951B
LTC: LMT3LCbCSvActkVo4dgzbHjn1HPrCgKch2
BCH: 17sFsLgZq9jibtqi5Bo5SiUcCD4TG8RQwE

READ  Three Simple Reasons Why Ethereum Won’t Benefit from DeFi’s Growth



Please enter your comment!
Please enter your name here