RE: iEx.ec has a great board of advisors which includes reps from Genesis Mining, Gatecoin, Wanxiang Blockchain Lab, and more!
Can you elaborate on what you mean? In terms of computing there is verified computation but that issue isn't really the big concern I would think? That can be achieved easier than you would think.
Think of it like this, your smart contract exists on the Ethereum blockchain. It asks a question to the Oracle and the Oracle passes the question to the custom (likely XtremeWeb-Hep) distributed computation network. The distributed computation network then computes the answer to the question, returns it to the Oracle, and the Oracle then passes it to the smart contract.
The key technologies they have to develop are the Oracle and the API tools for smart contract developers. The XtremeWeb-Hep is developed. If I answered your question wrong maybe I misunderstood what you meant? In any case please have a look at the video interview where the founder explains in more detail:
I'm not really sure what I meant :-). I've never just really digged into distributed incentivized computing, so I thought it might be a problem that participants fake the answers in hope of a better payoff. Can answers be proved with less computing than it takes to get them?
The incentive I assume comes from the RLC token so I would also have to assume the RLC token will become extremely valuable. The only way to buy computation from the network will be through the RLC token fed into the smart contract or API. Companies can do the computation off chain and this can be secured by both legal and technical means. So this means big mining companies can do it and I'm guessing the Oracle will handle verifying that the computation is done according to standard but I don't know for certain the details.
Excellent question. What currently prevents Amazon AWS or similar from giving fake answers?
Thanks for the answer. The team and connections are convincing enough, so I created some BTC and bought me some RLC.
I bumped into an article from SONM, where they say their solution is to hold some of the funds in custody, which then can be frozen if fraud is detected. In addition there is whitelisting. I still have to find out how to algortithmically detect fraud..