Phala Network


## What Is Phala Network?

[Phala Network](https://phala.network/) is a coprocessor for blockchains. Developers deploy “[Phat Contracts](https://phala.network/phat-contract),” off-chain program for coprocessors, enhancing dApps with connectivity, internet access, and heavy computation, overcoming web3 constraints. 

Phala Network has one of the largest [Trusted Execution Environments (TEE)](https://docs.phala.network/developers/advanced-topics/blockchain-infrastructure/secret-key-hierarchy#key-hierarchy-management) on Intel Software Guard Extensions (SGX) hardware, which means that any code/data on Phala Network is protected from unauthorized access by users. Phala addresses developer concerns with expanded developer [language support](https://docs.phala.network/developers/build-on-phat-contract/language-basics) such as JavaScript and more, and ready-to-deploy [Templates](https://bricks.phala.network/overview) for seamless Phat Contract integration, streamlining the experience for web3 developers. 

Phala stands at the forefront of Web3 innovation, fostering development through its [Builders Program](https://docs.phala.network/developers/phat-contract/builders-program).


## How Many PHA Coins Are There in Circulation?

There is a maximum supply of 1 billion PHA. As of January 17th, 2024, the circulating supply of PHA tokens is 663,448,259. 

Please note that the circulating supply is dynamic. For the most up-to-date information on the circulating supply, please visit the API [here](https://khala-circulation-api.phala-dev.workers.dev/).

## Who Are the Founders of Phala Network?

- **Marvin Tong**: CEO of Hash Forest Technologies. Senior Product Manager. Ex Tencent and Didi. 【[X](https://twitter.com/marvin_tong)】【[LinkedIn](https://www.linkedin.com/in/marvintong/)】

- **Hang Yin**: CTO of Hash Forest Technologies. Founder and Lead Developer of Bitcoin Gold. Senior Developer at Google. 10 years of coding experience. 【[X](https://twitter.com/bgmshana)】【[LinkedIn](https://www.linkedin.com/in/hang-yin-167012a7/)】【[Github](https://github.com/h4x3rotab)】

### Where Can I Buy Phala (PHA)?

As one of the most potential Polkadot  and EVM ecosystem projects in terms of coprocessor, PHA is available on some top-ranked exchanges below 

- [Binance](https://www.binance.com/en-GB/how-to-buy/phala-network)
- [Kraken](https://www.kraken.com/en-gb/prices/phala.network)
- [OKX](https://www.okx.com/price/phala-network-pha)
- [Kucoin](https://www.kucoin.com/how-to-buy/phala)
- [Uniswap](https://app.uniswap.org/tokens/ethereum/0x6c5ba91642f10282b576d91922ae6448c9d52f4e)
- [1inch](https://app.1inch.io/#/1/simple/swap/PHA)
- [HydraDX Omnipool](https://app.hydradx.io/trade/swap)

For the full list, please visit [here](https://coinmarketcap.com/currencies/phala-network/markets/).

## PHA resources

- [Introduction to PHA the native token of Phala Blockchain](https://docs.phala.network/pha-token/introduction)
- [PHA Governance](https://docs.phala.network/pha-token/governance)

## What Makes Phala Unique?

Phala Networks pioneers DePIN for CPUs, optimizing performance. Decentralized compute enhances blockchain coprocessors, ensuring secure transactions. The future entails AI-Web3 synergy, with Autonomous Agents providing scalable, autonomous data processing. 

Phala Network distinguishes itself through its **[Phat Contracts](https://docs.phala.network/developers/phat-contract)**, a paradigm-shifting concept in decentralized off-chain computation. The key uniqueness of Phat Contracts lies in their role as decentralized computation units, surpassing the limitations of on-chain smart contracts. These contracts run off-chain, facilitating complex computations seamlessly and cost-effectively. Unlike traditional on-chain solutions, Phat Contracts enable connections across diverse blockchains, supporting EVM and Substrate-based chains like Ethereum, Polygon, Polkadot, and [more](https://docs.phala.network/developers/phat-contract/supported-chains).

Phat Contracts empower developers with a range of tools—such as the Rust SDK and JavaScript and TypeScript—providing flexibility based on their programming background.

[Phat Contract applications](https://phala.network/posts/phat-contract-20-smart-contracts-now-connected) include [Zurf](https://phala.network/posts/monetizing-social-interactions-phala-and-zurf-parnership) for web3 social rewards, Phat OTP for secure on-chain authentication, Phat Strategy in GameFi, Lens Phite for [dynamic NFTs](https://phala.network/posts/Dynamic-NFT-Web3-Game-Changer), Smart Cookie for AI-driven content tailoring, and LensAPI Oracle for seamless integration of Lens data in smart contracts.

## PHA is the native utility token that is used for:

- [Trusted Computing Resources](https://docs.phala.network/developers/phat-contract/pay-for-cloud-service): Phala Networks empowers users with $PHA to access TEE computation resources. Seamlessly deploy Phat Contracts, supporting smart contracts as self-host oracles on various EVM blockchains.
- [Security Guarantee](https://docs.phala.network/developers/phat-contract/pay-for-cloud-service#security-and-computing-power): [Gatekeepers](https://docs.phala.network/compute-providers/gatekeeper/gatekeeper) must stake a certain amount of PHA tokens, which may be slashed for misbehavior.
- [Governance](https://docs.phala.network/pha-token/governance): Stakeholders who own a certain amount of PHA are able to join the Phala DAO to participate in community governance.

## Phala products include:

- [Phat Contract](https://docs.phala.network/developers/phat-contract)
- [SubBridge](https://docs.phala.network/other-products/subbridge)
- [inDEX](https://index.phala.network/)
- [PhalaWorld](https://phala.world/)

## Related Pages:

[X](https://twitter.com/PhalaNetwork)

[Discord](https://discord.com/invite/phala)

[Phala Network Blog](https://phala.network/blog)

[Phala Network Docs](https://docs.phala.network/introduction/readme)

[GitHub](https://github.com/Phala-Network/)

[YouTube](https://www.youtube.com/@PhalaNetwork)

[CMC community](https://coinmarketcap.com/community/profile/PhalaNetwork/)

Trust Wallet

MetaMask

Ethereum

Shiba Inu

Chainlink

UNUS SED LEO

Uniswap

HashAI

Zignaly

Covalent

Powerledger

Numeraire

Node AI

inSure DeFi

Oraichain

Velar

Wrapped TAO

Mars Battle

X2Y2

Fideum

Polkastarter is a decentralized fundraising platform empowering Web3 projects to launch and raise funds through multi-chain token pools whilst significantly growing their communities.

The platform supports initial dex offerings (IDOs) across major blockchains, including Ethereum, BNB Chain, Solana, Polkadot, Polygon, Avalanche and Celo.

The platform enables investors to secure early access to IDOs, NFTs and Gaming Web3 innovation. It is most commonly used by early-stage blockchain projects that want to raise capital and easily distribute their tokens at the same time.

Through Polkastarter, blockchain projects can easily create their own fixed-chain swap pools, which allow them to securely raise funds, while users can invest without risks, since swaps are automatically executed by smart contracts.

POLS is the native utility token of the Polkastarter platform. Its main utility is gaining access to pools and giving projects the option to give priority access to POLS holders. Users are incentivised to stake POLS, rewarding the most loyal members.

In Q4 2022, Polkastarter will release new community utility features, such as governance and POLS Power Boosters (increasing your allowlisting success). The platform first went live in December 2020, and has quickly grown to become one of the most commonly used platforms for initial DEX offerings (IDOs) operating on the Ethereum blockchain.

Polkastarter

Dvision Network

Litentry

Acala Token

Ocean Protocol

Moonbeam is an Ethereum-compatible smart contract parachain on Polkadot. Moonbeam makes it easy to use popular Ethereum developer tools to build or redeploy Solidity projects in a Substrate-based environment.

Moonbeam is much more than just an EVM implementation: it’s a highly specialized parachain that mirrors Ethereum’s Web3 RPC, accounts, keys, subscriptions, logs, and more. The Moonbeam platform extends the base Ethereum feature set with additional features such as on-chain governance, staking, and cross-chain integrations.

Moonbeam’s Ethereum compatibility is unmatched:

Minimal Changes: developers can use existing Solidity smart contracts right away, with no need to rewrite or reconfigure

Use Existing Developer Tools: connect popular tools like MetaMask, Hardhat, Waffle, Remix, and Truffle via a complete set of Web3 RPC endpoints. Use well-known Javascript libraries such as Web3.Js or Ethers.Js.

Unified Accounts, Addresses, and Signatures: use your existing Ethereum H160 accounts & ECDSA signatures to interact with Moonbeam

Tap into the Most Integrations on Polkadot: use existing oracles, bridges, wallets, and other tools that are already building on Moonbeam

Moonbeam provides integration and connectivity between Polkadot Parachains as well as with other chains such as Ethereum and Bitcoin via bridges. Moonbeam was started in 2019 by Derek Yoo of Pure Stake.

Moonbeam

Launched in September 2020, BakeryToken (BAKE) is a part of the BakerySwap ecosystem. Liquidity providers are rewarded with BAKE tokens which can be used to earn a share of BakerySwap’s trading fees and to participate in voting as part of BakerySwap’s governance process.

BakerySwap is a decentralized automated market-making (AMM) protocol that is based on the Binance Smart Chain (BSC). The BAKE token is a native BEP-20 governance token on the platform.

Users have the ability to earn BAKE tokens by providing liquidity on BakerySwap, and BAKE holders can use their tokens for governance voting and to receive transaction fee dividends. The BAKE rewards are offered in several liquidity pools, initially including BTC, ETH, DOT, LINK, BUSD and BAKE versus BNB.

BakeryToken

MDEX is a new decentralized trading protocol that launched in January 2021.

MDEX is an automated market making (AMM) decentralized exchange protocol that operates on the concept of fund pools, sharing some similarities with standard DEXs, but differentiating itself from competitors by using a dual-chain model modeled on both the Ethereum network and the Huobi Ecological Chain (HECO), which gives it access to the liquidity of the Ethereum ecosystem.

A trading platform built on top of HECO, MDEX has an estimated cost for token swaps at $0.001 for each trade, with a transaction speed of three seconds.

Mdex

Self-described as "Polkadot's wild cousin," Kusama is an experimental blockchain platform that is designed to provide a massively interoperable and scalable framework for developers.

Kusama is built on Substrate — a blockchain building kit developed by Parity Technologies. Kusama has almost the same codebase as Polkadot — one of the most successful interoperable blockchains.

By deploying on Kusama, fast-paced projects gain access to a highly scalable, interoperable sharded network, with features that are not yet available on Polkadot. To that end, Kusama describes itself as a “canary network.”

The platform is designed to provide a testbed for developers looking to innovate and deploy their own blockchain and can be used as a preparatory network before launching on Polkadot — though many projects opt to stick with Kusama for their final product.

Kusama benefits from a low barrier to entry for deploying parachains, low bond requirements for validators, and is most commonly used by early-stage startups and for experimentation.

Kusama

COTI markets itself as the first enterprise-grade fintech platform that empowers organizations to build their own payment solutions as well as digitize any currency to save time as well as money.

COTI is one of the world’s first blockchain protocols that is optimized for decentralized payments and designed for use by merchants, governments, payment DApps and stablecoin issuers.

COTI Pay is the first application. It describes itself as a fully encompassing finance on the blockchain. The COTI Group launched in March of 2017, while the Staking Platform Launched on Jan. 1, 2020.

It is an ecosystem that is designed specifically to meet all of the challenges associated with traditional finance, including latency, fees, global inclusion and risks. This is done through the introduction of the DAG-based protocol as well as infrastructure that is completely scalable, private, inclusive and fast.

The ecosystem has DAG-based blockchain, proof-of-trust consensus algorithm, multiDAG, GTS (Global Trust System), a universal payment solution and a payment gateway.

COTI

Oasis is the pioneering layer 1 blockchain designed to enable scalability and confidential compute. Oasis is home to Sapphire, the first confidential EVM that empowers Web3 and Decentralized AI developers to build dApps with Smart Privacy natively on Oasis or other EVM-based chains.

ROSE is the native token of the Oasis Network used for gas fees, staking, delegation and governance. With a unique layered architecture, Oasis presents the optimal building and execution environment for DeFi, AI, GameFi, NFTs, the metaverse, data tokenization and DAO governance. Oasis also has native support for rollups at the consensus layer.

Oasis

Moonriver is an Ethereum-compatible, smart-contract parachain on Kusama. It is intended to be a companion network to Moonbeam, where it will provide a permanently incentivized canary network. New code will ship to Moonriver first, where it can be tested and verified under real economic conditions. Once proven, the same code will ship to Moonbeam on Polkadot.

It does this by providing a full EVM implementation, a Web3-compatible API, and bridges that connect Moonriver to existing Ethereum networks.

This allows developers to deploy existing Solidity smart contracts and DApp frontends to Moonriver with minimal changes.

Moonriver

Celer is a blockchain interoperability
protocol enabling a one-click user experience accessing tokens, DeFi, GameFi, NFTs, governance, and more across multiple chains. Developers can build inter-chain-native Dapps using the Celer Inter-chain Messaging Framework to gain access to efficient liquidity utilization, coherent application logic, and shared states. Users of Celer-enabled dApps will enjoy the benefits of a diverse multi-blockchain ecosystem with the simplicity of a single-transaction UX, all from a single chain.

Celer Network

iExec is the leading provider of blockchain-based decentralized computing. Blockchain is utilized to organize a market network where people can monetize their computing power as well as applications and even datasets.

It does this by providing on-demand access to cloud computing resources. IExec can support applications in fields such as big data, healthcare, AI, rendering and fintech. IExec was founded on Oct. 16, 2016, with the goal to reinvent cloud computing through the creation of a new cloud computing paradigm.

As such, iExec relies on the XtremWeb-HEP, an open-source desktop grid software that implements features such as multi-applications, fault-tolerance, multi-users, deployment of virtual images, private infrastructure, data management, security and much more.

iExec RLC

Covalent leverages big-data technologies to create meaning from hundreds of billions of data points, delivering actionable insights to investors and allowing developers to allocate resources to higher-utility goals within their organization.

Instead of painstakingly sourcing data from a small handful of chains, Covalent aggregates information from across dozens of sources including nodes, chains and data feeds. The Covalent API then sources end-users with individualized data by wallet, including current and historical investment performance across all types of digital assets. Most importantly, Covalent returns this data in a rapid and consistent manner, incorporating all relevant data within one API interface.

Having achieved product-market fit, we are now planning to execute the next phase of Covalent, which is a progressive decentralization that will enable the Covalent Network to be owned and operated by its users. Of course, a critical piece to this is CQT.

CQT is the native token of the Covalent Network. It has three primary purposes:

CQT is a governance token, whereby token holders vote on proposals to change the system parameters.

CQT is a staking asset. Validators will earn fees for answering queries.

CQT is a network access token that fulfills data queries for users of the API.

Developer resources include:

Covalent Knowledge Base for extensive guides on how to use the Covalent API. 

Covalent API Documentation.

Arweave is a decentralized storage network that seeks to offer a platform for the indefinite storage of data. Describing itself as "a collectively owned hard drive that never forgets," the network primarily hosts "the permaweb" — a permanent, decentralized web with a number of community-driven applications and platforms.

To learn more about this project, check out our deep dive of Arweave.

The Arweave network uses a native cryptocurrency, AR, to pay "miners" to indefinitely store the network's information.

The project was first announced as Archain in August 2017, later rebranding to Arweave in February 2018 and officially launching in June 2018.

Arweave

Secret (SCRT) is a privacy-oriented blockchain built on Cosmos. Its smart contracts are called Secret Contracts and allow DApps to use private data on Secret, similar to how smart contracts operate on other blockchains. However, Secret Contracts transfer encrypted inputs into encrypted outputs without exposing data. This is made possible thanks to the encrypted contract states during the execution.

Data privacy is guaranteed by combining encryption protocols and key management within a Trusted Execution Environment (TEE). This allows Secret Contracts to compete for several privacy-related use cases that traditional blockchains have found difficult to accommodate. For instance, private voting mechanisms or credit scoring applications become possible since they do not expose sensitive user data on-chain with Secret.

Secret

Cartesi is an app-specific rollup protocol with a virtual machine that runs Linux distributions, creating a richer and broader design space for DApp developers.

Cartesi Rollups offer a modular scaling solution, deployable as L2, L3, or sovereign rollups, while maintaining strong base layer security guarantees.

Cartesi

The Graph is an indexing protocol for querying data for networks like Ethereum and IPFS, powering many applications in both DeFi and the broader Web3 ecosystem. Anyone can build and publish open APIs, called subgraphs, that applications can query using GraphQL to retrieve blockchain data. There is a hosted service in production that makes it easy for developers to get started building on The Graph and the decentralized network will be launching later this year. The Graph currently supports indexing data from Ethereum, IPFS and POA, with more networks coming soon.

To learn more about this project, check out our deep dive of The Graph.

To date, over3,000 subgraphs have been deployed by thousands of developers, for DApps like Uniswap, Synthetix, Aragon, AAVE, Gnosis, Balancer, Livepeer, DAOstack, Decentraland and many others. The Graph usage has been growing at over 50% MoM and hit over 7 billion queries during the month of September 2020.

The Graph has a global community, including over 200 Indexer Nodes in the testnet and more than 2,000 Curators in the Curator Program as of October 2020. To fund network development, The Graph raised funds from community members, strategic VCs and influential individuals in the blockchain community including Coinbase Ventures, DCG, Framework, ParaFi Capital, CoinFund, DTC, Multicoin, Reciprocal Ventures, SPC, Tally Capital and others. The Graph Foundation also successfully completed a public GRT Sale with participation from 99 countries (not including the U.S.). To date as of November 2020, The Graph has raised ~$25M.

The Graph

Reef is a Reliable Extensible Efficient Fast Layer-1 Blockchain for DeFi, NFT & Gaming. Built using Substrate Framework, it provides high scalability, enabling almost instant low-cost transactions, and supports Solidity and EVM, allowing developers to seamlessly migrate their DApps from Ethereum without any change in the codebase.

Reef Chain is the most advanced EVM-compatible blockchain. It's self-upgradable and has on-chain governance. Its infrastructure also allows for EVM extensions which allows for native token bridge, scheduled calls (ie. recurring payments), and smart contract in-place code upgrades. In the near future, it will support additional VMs which will allow developers to write code in multiple programming languages. The network runs on a Nominated Proof-of-Stake (NPoS) consensus mechanism, which offers scalability and low fees.

REEF is the native token that is used for:

Fees for processing transactions and storing data.

Running validator nodes by staking REEF tokens.

Nominating which validator nodes should be part of the network.

Reef is backed by multiple leading funds and venture capitalists including NGC, QCP, Bitcoin.com, Kenetic Capital, LD Capital, TRG Capital, Krypital Group, Genesis Block, Woodstock Fund and others.

Reef Chain development tools include:

Remix and EVM integrated development environments for uploading and deploying smart contracts.

Reefscan blockchain explorer to assist with deploying validators, bonding and nominating validators, debugging contracts, and understanding network performance.

Reef command line tools that allow developers deploy applications from local environments.

Reef wallet for accessing and interacting with the blockchain