What are PHA Working Principles
What is Phala Network (PHA):
Phala Network stands as a community-driven Web3.0 platform, featuring confidential smart contracts and operating through a TEE-Blockchain Hybrid Architecture. TEE, or Trust Execution Environment, represents a specialized hardware component isolated from the system. Leveraging Web3.0 tools, Phala’s mission is to establish confidential blockchains, eliminating the need for third-party intermediaries. Web 3.0 signifies the next stage in the evolution of the Internet.
Who are the Founders of Phala Network:
Hang Yin, a former senior software engineer at Google, co-founded Phala Network, bringing profound experience in artificial intelligence. Marvin Tong, an investment advisor of PAKA Fund, also serves as a co-founder. Jun Jiang holds the position of CTO.
What is the Seed Sale/Token Supply of Phala Network:
The maximum supply of the PHA token is one billion, contributing to the governance, security, and functionality of Phala Network.
What are the Amazing Features of Phala Network:
- Cross-Chain Integration:
- Phala, built on Substrate, supports cross-chain integration as a native blockchain. This makes Phala the go-to infrastructure for confidentiality across various blockchains globally. Substrate, an open-source framework, streamlines the blockchain-building process.
- Decoupling Computation:
- Phala Network separates computation from the chain, directing it to miners or off-chain secure workers. These secure workers utilize TEE to ensure the blockchain’s computation remains performant, confidential, and secure.
- PHA Token:
- PHA serves as the native token of Phala Network and is distributed via ERC20. PHA plays a pivotal role in the network’s security guarantee, with users staking PHA to become Gatekeepers or TEE miners, essential for maintaining consensus stability.
- Security Guarantee:
- Phala Network ensures security through penalties for users violating Gatekeeper rules. Gatekeepers, or TEE miners, are core roles in maintaining consensus stability, and staking more PHA enhances their trustworthiness.
- Governance and Participation:
- PHA token holders actively participate in community governance by initiating proposals, voting on valid proposals, and influencing the proposal order. The PHA token is central to Phala’s governance structure.
How do I Trade Phala Network (PHA) Coin:
Phala Network (PHA) Coin can be traded on many cryptocurrency exchange platform like Binance, Digifinex, Bitrue and especially on Gate.io and MEXC trading platform.
Phala Network, with its innovative architecture and commitment to privacy and security, positions itself at the forefront of the Web3.0 evolution, redefining the landscape of confidential smart contract networks.
