Phala Network

Overview of Phala Network

  • Phala Network is a privacy-preserving cloud computing service, which is based on Substrate and will run as a parachain of the Polkadot ecosystem to offer computing power comparable to existing cloud services and protects the privacy of managed programs.
  • Phala Network is the first confidential smart contract network built on Substrate, aiming to provide confidential computation and data protection services for enterprises and users.
  • Phala Network uses the technology of Trusted Execution Environment (TEE) to create a Privacy Cloud Platform that could process general-purpose computing with Turing-completeness.
  • Phala Network, aiming to be the privacy infrastructure parachain in Polkadot ecosystem, has been under development for almost a year.
  • Phala Network, a Polkadot-based project focused on data privacy preserving protocol, has announced a partnership with Bluzelle.
  • Phala Network has demonstrated the ability to deliver security and confidentiality through a network of TEEs
  • Phala Network’s market cap currently sits at $146,009,000.00 USD, holding up for a market cap rank at #338.
  • Phala Network price today is $0.82196600 USD, which is down by -2.73% over the last 24 hours.
  • Phala Network 개발자와 사용자는 스마트 계약 및 프로그램을 Phala에서 실행할 수 있으며 네트워크 배포를 완료한 후 업데이트 및 유지 관리할 수 있다.
  • Phala Network has a maximum supply of ∞ PHA and a circulating supply of 177.6M PHA.

    • Blockchain

    Phala Network is a privacy-preserving protocol for data-protection and blockchain smart contracts built for the Polkadot ecosystem.Phala.Network guarantees the reliable execution of smart contracts while keeping the data secret.Confidential contracts run in miner nodes with Trusted Computing capable hardware, which guarantees the secrecy of the contract data.

    Mine

    Phala Network is airdropping 30 PHA to users running the Phala miner node.Download the mentioned file, run the specified commands and submit a screenshot and other details to the airdrop form to receive the rewards.

    Network

    How Does Phala Work?

    Three layers of operation and protection create Phala Network.Phala nodes, pRuntime, and Phost are the fundamental layers in Phala Network.pRuntime lives in TEE and therefore is protected from the outside world.Working on the TEE system is safe but still needs accurate programming and management to only allow valid transactions.Phost is the crucial player here.

    How Many PHA Coins Are There in Circulation?

    There is a maximum supply of 10 billion PHA, and as of February 26, 14.7% of it in circulation.

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    What Is Phala Network?

    Phala Network is a privacy-preserving cloud computing service, which offers computing power comparable to existing cloud services and protects the privacy of managed programs.Based on TEE-Blockchain Hybrid Architecture, developers can deploy confidential smart contracts running inside the TEE Enclaves in the CPU.

    What is Phala Network?

    The problem of privacy in public blockchains prevents many businesses and individuals from using them.They can’t trust a system with full transparency to store and transact their data.

    What Makes Phala Unique?

    Phala Network tackles the issue of trust in the computation cloud.

    Where Can I Buy Phala (PHA)?

    As one of the most potential Polkadot ecosystem projects in terms of privacy, PHA is available on some top-ranked exchanges including Binance, Huobi Global, Okex, Kucoin, Uniswap and 1inch.For the full list, check out here.

    Who Are the Founders of Phala Network?

    Hang Yin: Founder and Lead Developer of Bitcoin Gold.Senior Developer of Google.10 years of coding experience.

    History of Phala Network