Phala Network (PHA)

What is Phala Network Crypto Currency? Phala Network is an open-source privacy-preserving blockchain platform powered by Substrate and TEE. Phala Network is focused on providing confidential computation and data privacy capabilities. Phala Network is committed to providing mission-critical applications with high Levels of privacy and security. Who Founded it? Phala Network is a project founded by three cybersecurity experts in Hong Kong; Dr. Xiong Lei, Eagle Yin and Felix Feng. The team’s mission is to provide confidential data and services to users with high levels of privacy without compromising performance or scalability. The Phala Network code was first released in February 2019 and was publicly released to GitHub in April of the same year. What Makes it Unique? Phala Network stands out from other blockchain projects in several ways. First, the project emphasizes the importance of privacy, with a focus on developing confidential technologies to protect user data. Secondly, Phala is designed to be highly scalable, with a Substrate-based blockchain architecture that allows for superior performance and scalability as compared to other blockchain-based platforms. Finally, Phala distinguishes itself from other projects by providing a secure enclave for confidential data and for running secure transactions on the blockchain. Where Is It Used? Phala Network is currently being used to develop a number of mission-critical applications, including privacy-preserving decentralized finance, energy trading, and digital asset management. The project is also exploring a number of other use cases, including smart city development, digital payments, and secure data exchange. Where to Buy/Sell it? Phala Network tokens (PHA) are available to buy and sell on a number of cryptocurrency exchanges, including KuCoin, Gate.io, and BitMax. Token holders can also store their PHA tokens in a variety of wallets, including MetaMask and Ledger Nano X.