Phala Network

Phala Network

PHA
$0.136483983%-3.30

Key Metrics

Price$0.136483983
Real Volume (24H)$5,686,919.94
Marketcap$99,769,914.87
Fully Diluted Valuation$100,000,000
ATH$1.39
ATH Date5/15/2021, 7:20:32 AM
ATL$0.064594
ATL Date9/12/2020, 3:15:05 PM
Circulating Supply473M
Total Supply1B
WebsiteN/A
WhitepaperN/A
Popularity Rank442
Chart
What is Phala Network?

Phala Network is a revolutionary new platform that is designed to be a community-driven, confidential smart contract network that is powered by a TEE-Blockchain Hybrid Architecture. TEE, or Trust Execution Environment, is a special hardware component that is isolated from the rest of the system, and is used to protect the privacy and security of the network. With the help of Web3.0 tools, Phala Network aims to make blockchain confidential, eliminating the need for third-party intermediaries.

Phala Network is built on Substrate, an open-source framework that makes building a blockchain fast, cheap, and easy. By using Substrate, Phala Network is able to support cross-chain integration and become the infrastructure of confidentiality for any blockchain in the world. Additionally, Phala Network decouples computation from the chain to miners or off-chain secure workers. These secure workers leverage TEE to ensure the performance of blockchain's computation, confidentiality, and security.

PHA is the native token of Phala Network. The team behind Phala Network seeks to distribute tokens via ERC20. One of the main features of the Phala Network is its security guarantee. The network guarantees security by fining users who betray the Gatekeeper rules. In the Phala Network, Gatekeeper or TEE miner is the core role that maintains the stability of the consensus. To become a Gatekeeper in the Phala Network, one must stake a certain amount of PHA. Miners who stake more PHA are considered more trustworthy.

PHA token is also the core of Phala Network's governance. PHA token holders can participate in community proposals by initiating proposals, voting on valid proposals, and changing the order of proposals. This allows for a truly decentralized and community-driven approach to the development and management of the network.

The Phala Network was founded by Hang Yin, a former senior software engineer at Google with a profound experience in artificial intelligence. Marvin Tong, the investment advisor of PAKA Fund, and Jun Jiang, the CTO of Phala Network, are also co-founders of the project. The maximum supply of the PHA token is one billion. With its advanced technology and community-driven approach, Phala Network is poised to become a leading player in the world of blockchain and Web3.0.

Phala Network aims to provide a scalable, confidential, and secure platform for decentralized applications (dApps) to be built on. It utilizes the TEE-Blockchain Hybrid Architecture, which combines the security of Trust Execution Environment (TEE) with the transparency of blockchain technology. TEE is a special hardware component that is isolated from the rest of the system, providing an additional layer of security.

The Phala Network uses a unique consensus mechanism called the Gatekeeper Consensus. It is based on Proof-of-Stake (PoS) and is designed to ensure the stability of the network. The Gatekeepers, who are the core role in the consensus mechanism, are responsible for maintaining the stability of the consensus. They are incentivized to do so by staking a certain amount of PHA, the native token of the Phala Network. The more PHA a Gatekeeper stakes, the more trustful they are considered.

The Phala Network also has a built-in security guarantee system, which fines users who betray the Gatekeeper rules. This ensures that the network remains secure and stable. PHA token holders also participate in community proposals by initiating proposals, voting on valid proposals, and changing the order of proposals. This allows the community to have a say in the direction and development of the Phala Network.

In terms of its history, Phala Network was founded by Hang Yin, a former senior software engineer at Google, and Marvin Tong, the investment advisor of PAKA Fund. They are joined by CTO Jun Jiang, who has extensive experience in the field of artificial intelligence. The maximum supply of the PHA token is one billion. The team seeks to distribute tokens via ERC20.

In conclusion, Phala Network is a Web3.0 community-driven, confidential smart contract network that is designed to provide a scalable, secure, and confidential platform for decentralized applications. With its TEE-Blockchain Hybrid Architecture and Gatekeeper Consensus, Phala Network aims to become the infrastructure of confidentiality for any blockchain across the world. The PHA token is the core of Phala governance, and its holders play an active role in community proposals, ensuring that the network remains community-driven.

Disclaimer

The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.

Stay ahead of the competition by accessing high-quality data, advanced tools, and expert research.

Try for Free

Top Assets

AssetPrice24HMcap
Loading...

We use cookies for personalization, social media, and analytics, and share usage data with partners.