Article Summary, Automatically Generated By AI
About Phala Network
Key Points
- Phala Network is a coprocessor for blockchains, enhancing dApps with connectivity, internet access, and heavy computation.
- It has one of the largest Trusted Execution Environments (TEE) on Intel Software Guard Extensions (SGX) hardware.
- Maximum supply of PHA tokens: 1 billion
- Circulating supply of PHA tokens: 663,448,259 (as of January 17th, 2024)
- Founders: Marvin Tong (CEO) and Hang Yin (CTO)
- PHA tokens are available on top-ranked exchanges like Binance, Kraken, and OKX.
<li
About Phala Network: Unlocking the Power of Confidential Computing
Introducing Phala Network: A Pioneering Decentralized Computing Platform
Phala Network is a pioneering coprocessor designed specifically for blockchains. By deploying “Phat Contracts,” developers can create off-chain programs that empower coprocessors, thereby augmenting decentralized applications (dApps) with seamless connectivity, unfettered internet access, and robust computational capabilities, ultimately transcending the limitations of web3.
Phala Network boasts one of the largest Trusted Execution Environments (TEE) built on Intel Software Guard Extensions (SGX) hardware, ensuring that all code and data within the network remain safeguarded against unauthorized access. Furthermore, Phala alleviates developer concerns by offering expanded language support, including JavaScript, and providing ready-to-deploy Templates that facilitate seamless integration with Phat Contracts, thereby streamlining the experience for web3 developers.
Phala occupies a vanguard position in Web3 innovation, catalyzing development through its visionary Builders Program.
The Circulating Supply of PHA Coins: A Closer Look
With a capped maximum supply of 1 billion, the PHA token boasts a finite issuance. As of January 17th, 2024, the circulating supply of PHA tokens stands at 663,448,259.
Kindly be advised that the circulating supply is subject to fluctuations. For the most current and accurate information on the circulating supply, we recommend visiting the API at the following link.
The Visionary Founders Behind Phala Network
-
Marvin Tong: Chief Executive Officer of Hash Forest Technologies, formerly a Senior Product Manager at esteemed companies such as Tencent and Didi. 【X】【LinkedIn】
-
Hang Yin: Chief Technology Officer of Hash Forest Technologies, renowned as the Founder and Lead Developer of Bitcoin Gold. With a decade of coding experience, he has also held a senior developer position at Google. 【X】【LinkedIn】【Github】
Marvin Tong: CEO of Hash Forest Technologies, formerly a seasoned Senior Product Manager at esteemed companies including Tencent and Didi. 【X】【LinkedIn】
Hang Yin: CTO of Hash Forest Technologies, Founder and Lead Developer of Bitcoin Gold, and former Senior Developer at Google, boasting an impressive 10 years of coding experience. 【X】【LinkedIn】【Github】
Acquiring Phala (PHA): A Comprehensive Guide to Exchanges and Marketplaces
As a pioneering project in the Polkadot and EVM ecosystem, leveraging the power of coprocessor technology, PHA is proudly listed on the following esteemed exchanges:
- Binance Exchange
- Kraken Digital Asset Exchange
- OKX Cryptocurrency Exchange
- KuCoin Cryptocurrency Exchange
- Uniswap Decentralized Exchange
- 1inch Decentralized Finance (DeFi) Aggregator
- HydraDX Omnipool Decentralized Exchange (DEX)
For a comprehensive list, kindly refer to this link.
Phala’s Distinctive Edge: Unparalleled Innovation
Phala Networks spearheads the development of DePIN for CPUs, thereby unlocking unprecedented performance optimization. By harnessing the power of decentralized compute, blockchain coprocessors are empowered to facilitate secure transactions with unwavering reliability. As we gaze into the future, the convergence of AI and Web3 is poised to revolutionize the landscape, with Autonomous Agents poised to deliver scalable, autonomous data processing capabilities.
Phala Network is distinguished by its pioneering Phat Contracts, a groundbreaking concept that revolutionizes decentralized off-chain computation. The unique value proposition of Phat Contracts lies in their capacity to function as decentralized computation units, transcending the limitations of traditional on-chain smart contracts. By operating off-chain, these contracts facilitate complex computations with seamless efficiency and cost-effectiveness. Unlike conventional on-chain solutions, Phat Contracts enable interoperability across diverse blockchain ecosystems, supporting a wide range of chains, including EVM and Substrate-based networks such as Ethereum, Polygon, Polkadot, and beyond.
Phat Contracts empowers developers with a diverse array of tools, including the Rust SDK and JavaScript and TypeScript, thereby affording them the flexibility to work seamlessly, regardless of their programming background.
Phat Contract applications encompass a diverse range of innovative solutions, including Zurf, a pioneering web3 social rewards platform, Phat OTP, a robust on-chain authentication system, Phat Strategy, a cutting-edge GameFi solution, Lens Phite, a dynamic NFT engine, Smart Cookie, an AI-driven content tailoring tool, and LensAPI Oracle, a seamless integration gateway for incorporating Lens data into smart contracts.
PHA Resources
- Delving into PHA: The Native Token of Phala Blockchain
- PHA Governance: A Comprehensive Overview
PHA serves as the native utility token, facilitating a multitude of functions, including:
- Trusted Computing Resources: Phala Networks empowers users with $PHA to tap into trusted execution environment (TEE) computation resources, enabling seamless deployment of Phat Contracts as self-hosted oracles on diverse EVM blockchains.
- Security Guarantee: Gatekeepers are required to stake a specified amount of PHA tokens, which are subject to slashing in the event of misbehavior, ensuring a secure and reliable network.
- Governance: By holding a minimum threshold of PHA, stakeholders are eligible to participate in the Phala DAO, thereby contributing to community-driven governance and shaping the future of the network.
Phala’s Diverse Product Portfolio Includes:
- Phala Contract
- Substrate Bridge
- Index
- Phala World
Associated Resources:
X
Discord Community
Phala Network Journal
Phala Network Documentation
The GitHub platform
The premier video-sharing platform, YouTube
The CMC Community