What is Phala Network ? | All about Phala Network in Short | Crypto Currency Phala Network

What is PHALA NETWORK?

Phala Network is a privacy-preserving cloud computing service, which offers computing power comparable to existing cloud services and protects the privacy of managed programs. Based on TEE-Blockchain Hybrid Architecture, developers can deploy confidential smart contracts running inside the TEE Enclaves in the CPU.

Importance of PHALA NETWORK?

Trusted Computing Resources: Purchase trusted computing resources in the network and the data exchanges (e.g. trusted computing power, on-chain computing and storage resources, and off-chain storage) using PHA tokens. Data Exchange Fee: Phala provides a contract-based data exchange infrastructure for standardized data collection, analysis, and trading protocols. With Phala’s protocol, a confidential but trusted exchange ecosystem is built for both buyers and sellers.

Future of PHALA NETWORK?

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