iExec: The Modern Age Solution

Solutions like every other concept must evolve continually to gain relevance and function properly. Every year, century and decade consists of progressive limitations in every sector, from Web3 to finance and it takes projects with existing solutions like iExec to solve them. In this article, I’ll highlight iExec’s latest solution; Decentralized Confidential Computing and its role in the progress of Web3.

Its predecessor Confidential Computing, in its literal terms, means the protection of data from theft or any form of unauthorized usage or access. It was used hand in hand with privacy chains to offer protection to data in procession but with time its limitations were revealed hence the birth of DeCC. “Decentralized” as its name suggests refers to the use of the blockchain to ensure the full protection of assets its predecessor lacked thereby unlocking a new powerful privacy-preserving capability never seen before.

We’ve seen countless times in this space how the integration of blockchain technology in any sector births innovative solutions and confidential computing is its next stop. Its solutions like applications (Dapps), finance (Defi), and recently physical infrastructure (DePIN) in all of its innovative impact have all had a data confidentiality/privacy limitation. Data unlike every other thing, is the link and key to the survival of every sphere of the cryptocurrency world, but with its constant mishandling and mismanagement, we could see every aspiring and existing solution crash out in no time.

Decentralized confidential computing which paves the way for mass adoption, functions by enabling smart contracts to compute over enclaves like Trusted Execution Environments (TEEs), without ever exposing that data. Every data becomes encrypted via secure enclaves which empowers smart contracts throughout the compute lifecycle. This enclaves alongside blockchain technology express the components and powerhouse of decentralized confidential computing. This technology now gives users to ability to control every data they own, with ownership and privacy being a long-term limitation users have continually faced.

iExec has been in every form of innovation from DePIN to now DeCC, showcasing its evolutionary stance to combat limitations as they come. Its DeCC approach has seen them collaborate with top minds and projects like Microsoft, Intel, IBM and NVIDIA who have combatted these limitations. Collaborations these vital have seen iExec become the genesis of technology like Trusted Execution Environments (TEEs), with Intel SGX2 and Intel TDX being top enclaves in TEE execution. NVIDIA another collaboration, is currently in motion with iExec to bring decentralized confidential computing to GPU assets increasing its reach in the AI sector.

These steps made by iExec didn’t deter them from self-exploitation with its tech stack, DataProtector and Web3Mail showing its decentralized confidential computing in the Web3 sector. These tools when integrated protect and privatize data, and give control and full ownership to owners but iExec didn’t stop there, its latest Content creator tool, showcases decentralized confidential computing but with a monetization perk. This innovation, currently active has shown the prowess of iExec in the DeCC sector, with users/owners having the ability to control their data enforcing its “your data, your choice” stance. Imagine owning a music record as a creator, placed for rent/sale to be paid in its RLC token, buyers/rentals can access this content without stealing the components of this record giving the owner 100% ownership. For this record to be sampled, exclusive permissions must be obtained from the owner ensuring the privacy and safety of the beats produced.

There are numerous use cases this iExec and DeCC can produce that can be easily integrated in these times thereby making it a modern age solution. Web3 and AI are amongst the 2 major fields DeCC cut across and iExec already has its helm on both. AI models are now experiencing confidentiality, contents like NFTs are having full ownership restored to their owners and on-chain identities are being created with Ethereum addresses (Web3Mail) that reserve and protect owners' details.

New horizons are appearing to usher in these modern-day solutions and iExec isn’t looking to be left out. Decentralized times are around the corner and it’s already cutting across every sector creating real-world use cases and we’ll be seeing the iExec signature stamp of solutions cut across all. To remain abreast of what’s to come, join its social media channels today.

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iExec: The Modern Age Solution was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.