Phala Community

Phala FAQs - All about PHA

What is Phala?

Phala is the first confidential smart contract network built on stubstrate, aiming to provide confidential computation and data protection service for enterprises and users. Phala Network would serve the whole Polkadot ecosystem as one of the Polkadot parachains.

Who founded Phala?

Our core partners come from famous Internet companies such as Google, Tencent, etc. Hang Yin, Co-founder and Chief Scientist of Phala Network, also founded another project valuing 200 million dollars: Bitcoin Gold.

What product does Phala have?

  • pLIBRA: a confidential computation component built for Libra granted by Web3 foundation
  • Web3 Analytics: a cutting-edge data analysis tool for next generation, able to analyze user data and output results without invading personal privacy.

As Phala Network grows, there would be more amazing applications and services based on Phala to serve people and our communities.

Where does Phala’s funds come from?

We have an seed round with a German group and there would be more income and fund raising as we develop.

What is Phala’s core technology?

Phala applies TEE (Trusted Environment Execution) which allows confidential data to run in a isolated and private environment and outputs results alone with authorization.

An example:
Google wants the DAU (Daily Active User) data in recent 100 days on Facebook. Facebook is willing to share yet worrying about user data leak. Here’s how they could perfect solve the problem with Phala Network:

  1. Google writes their requests into codes and send to Facebook on network;
  2. Facebook receives the codes and started to run the codes locally in Facebook’s nodes;
  3. Results outputalone sent to Google, instead of all data of user activity.

What advantages does Phala own?

Composability and Parrallelism of contracts!
We allow different contracts to call each other before execute computation, which is hard to realize for many other projects. We’ve been discussing relevant solutions with Parity and have come out with a mature plan.
Besieds, compared with other confidential computation projects, we focus more on cross-chain of data, not only deposits and assets. Our vision is to enable ANY BLOCKCHAIN to be served with our confidential computation technology.

Is it complicated to integrate Phala’s technology?

Not at all. There are 2 options:

  1. To call Phala Network through ETH bridges
  2. To develop on Phala Network with WASM languages (try automatic transfer with a Solidity-WASM complier!)
    As for our products such as Web3 Analytics, it would only take a few more minutes to enable Phala’s function!

What is the total number of Phala’s token?

1 billion.

How is Phala’s ecomonic system designed?

Please check on our website -> Whitepaper

When will Phala’s testnet and mainnet be ready?

Testnet: by the end of March
Mainnet: by the beginning of June
Mining would be available with the mainnet launched.

Why do I need to join Phala’s official community?

First-hand news, bounties, and bonus events await!
It would also be a great channel if you want to get connected with our team member :slight_smile:

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