Phala Network
Name
Phala Network
Summary
-Phala Network is a cloud computing service that secures the privacy of managed programs while providing computational power equivalent to other cloud services.
-It was founded by Hang yin, Marvin Tong, Zhe wang, Jun Jiang and Shunfan Zhou in 2018
-It runs as a parachain of the Polkadot ecosystem
Rating
Symbol
PHA
Overview
The Phala Network is a decentralized cloud computing protocol that attempts to compete with traditional cloud computing providers like Amazon Web Services (AWS) and Google Cloud. Phala intends to deliver these services via a decentralized, global network of computing resources that can increase performance while maintaining privacy and security.
Phala provides two products currently:
pDiem: A confidential computation component created for Libra.
Web3 Analytics: A next-generation data analysis application that can evaluate user data and produce findings without breaching personal privacy.
As the Phala Network expands, more applications and services based on Phala will be available to assist people and communities.
Historical Price Movement (in INR)
Technology
Phala is based on Substrate and operates as a Polkadot ecosystem parachain. Polkadot's shared security, transaction settlements, and consensus are handled via the Relay Chain. Phala takes advantage of Polkadot's base features due to its interaction with the Relay Chain.
Phala provides confidentiality via a secure enclave called a trusted execution environment (TEE)
Use of native tokens in the ecosystem:
PHA is the platform's native utility token, with the following applications:
PHA tokens can purchase trusted computer resources in the network and data exchanges (for example, trusted computing power, on-chain computing, and storage resources, as well as off-chain storage).
Phala is a contract-based data exchange infrastructure that allows for standardized data collecting, analysis, and trade methods. Both buyers and sellers benefit from Phala's protocol, which creates a secure and private transaction economy.
Gatekeepers must stake a specific quantity of PHA tokens, which can be sliced in the event of wrongdoing.
Stakeholders who own a particular quantity of PHA tokens can become members of the Phala DAO and participate in community governance.
TEE Mining
70%
Stakedrop and Initial Parachain Offering
9%
Testnet incentive
1%
Private Sales
15%
Developer Incentive
5%
Volume (27th March 2022)
$5,760,948
Total Supply
1000000000
Circulating supply
272,000,000.00 PHA
Crowd Sales
-
Funding
01/09/2020:Seed round-NA
Country
China
Name of Organization
Phala Network
Year Incorporated
2018
Registered Address
Beijing, China
Dispute Resolution and Governing Law
China
Country Risk Assessment
A2
Founding Team
| Name | Designation | Education | Experience |
| Hang Yin | Co-Founder | NA | 10+ Yrs |
| Zhe Wang | Co-Founder | Huazhong University of Science and Technology: Master of Technology - MTechHuazhong University of Science and Technology: Bachelor of Arts - BA | 7 Yrs |
| Marvin Tong | Co-Founder | NA | 5+ Yrs |
| Jun Jiang | Co-Founder | NA | 5+ Yrs |
| Shunfan Zhou | Co-Founder | Fudan University: Ph.D. | NA |
Whitepaper 
