It’s wise to understand the differences between iExec (RLC) vs META 1 Coin in order to make the right investment decision. These projects service different parts of the blockchain market, so they aren’t direct competitors. However, as both projects have a lot of investor attention, they are competing for your endorsement. Here are the key details to know regarding iExec (RLC) vs META 1 Coin.
What is iExec (RLC)?
iExec entered the market in 2016 and is a private for-profit entity. The platform operates as a blockchain-based market for cloud resources. The network enables anyone to sell applications in a secure manner.
iExec RLC users can also trade data-sets and server space to secure profits. By providing users with the ability to monetize these items, iExec creates an easy way for people to earn passive rewards and save on cloud hosting services.
What is META 1 Coin
META 1 is a third-generation stablecoin. The purpose of the token is to empower users within the METANOMICs ecosystem. Users must hold META 1 Coins to participate in the networks DeFi features. You can stake META 1 Coin and secure low risk rewards without having to relinquish ownership of your digital assets.
META 1 is light years ahead of its predecessors such as Tether USDT. For example, USDT is pegged to the USD. As such, it experiences inflation based on market conditions. When the value of the USD drops, the value of fiat pegged tokens follows. META 1 derives value from a basket of appreciating assets. Consequently, its value rises over time versus declining like fiat currencies.
Additionally, META 1 locks gains into place using a value control mechanism. This system prevents whales from dumping their bags and tanking the value of the coin. Interestingly, it leverages an off-chain sensor called an oracle to ensure that all tokens are sold at a minimum of asset value.
What Problems was iExec(RLC) Built to Alleviate?
iExec’s technical structure enables it to tackle some issues faced by centralized cloud service providers. The network was built to streamline user onboarding and Dapp development. It provides a more affordable and flexible alternative when compared to centralized platforms such as Amazon.
At this time, the cloud computing market suffers from massive centralization. The large players in the market control the market in terms of setting prices and features. iExec leverages a blockchain-based, distributed cloud computing protocol that is scalable, secure, and provides users with significant cost savings compared to AWS, Microsoft Azure, and Google Cloud.
What Problems was META 1 Coin Built to Alleviate?
The META 1 Coin reduces volatility within the market by eliminating centralization and sharing the profits with users. The traditional financial sector is set up in away that makes it hard to achieve financial freedom.
Regular investors are swept up their market movements as large hedge funds, governments, and corporations run the game. META 1 Coin was built to act as a line of defense against a corrupt financial system. The network carries Bitcoin’s legacy and expands on it with advanced features.
Notably, META 1 is located outside the jurisdiction of centralized regulators which enables it to provide features and options that the competition can’t. Additionally, this strategy provides the network with protection against future crypto regulatory issues.
The developers behind the META 1 coin project introduce variety of proprietary smart contracts such as the “humans only” protocol. This system helps prevent centralization before it ever occurs. The system requires all users to verify they are an actual person and not a government, corporation, or investment firm.
How Does iExec RLC (RLC) Work?
iExec’s decentralized network is composed of two main users, Providers and Developers. Providers rent out their CPU’s processing power in exchange for rewards in the form of RLC tokens. iExec users earn rewards based on the amount and intensity of the applications they execute.
Notably, iExec introduces a new marketplace to the sector. Users gain the ability to shop computing power from a variety of providers to find the lowest rates. Additionally, anyone can create and monetize applications using the CLI and JS libraries for developers. They can then sell their creations in the Dapp store.
RLC is the network;s utility token. Users need to hold RLC tokens to participate in iExec services. It’s used to pay for items, rewards users, and traded on exchanges. You can store the token in the iExec Wallet.
How Does META 1 Coin Work?
The META 1 DeFi ecosystem includes everything you need to start building wealth today. The network provides users with access to multiple passive income streams. For example, you can secure 10% APY using the savings account feature. It works just like your local bank account but pays out 10X more in interest. You simply need to deposit your META 1 Coin to access these profits.
META 1 supports DeFi staking. Users can lock up their META 1 Coins and start receiving rewards based on the number of tokens they lock. Staking is one of the most popular DeFi features in the marke for good reason. It provides more consistent rewards than day trading and it doesn’t require you to relinquish ownership of your valuable digital assets.
Another really cool feature of META 1 is its VISA debit card. For many years, people have complained that there is no way to spend crypto in a seamless manner. The META 1 VISA introduces a better option to the market.
The system converts your crypto to fiat when you swipe your card. The entire process happens in seconds and the vendor isn’t aware that anything happened. They just receive payment in fiat and you receive your product. It’s that simple.
iExec (RLC) vs META 1 Coin
iExec and META 1 demonstrate different ways that blockchain technology can improve the lives of everyday users. Those seeking discount high-performance data can save using iExec. DeFi users can leverage META 1 Coin’s low-risk strategies to secure ROIs. As such, both of these projects have the potential to upend their niche sectors.