Market Cap
$198,708,525.0
Fully Diluted Valuation
$255,154,000.0
24 Hour Trading Vol
$68,430,197.0
Circulating Supply
775,169,661.1
Total Supply
1,000,000,000.0
Max Supply
1,000,000,000.0
Phala Network Price
$0.255
24h Range
$0.242 - $0.291
Percent Change 1h
-0.32%
Percent Change 24h
-10.77%
Percent Change 7d
-5.9%
All-time high
$1.39
All-time low
$0.065
1D
7D
1M
1Y
All
Phala Network (PHA) is a decentralized cloud computing platform built on the Polkadot ecosystem. It aims to provide a secure, privacy-preserving environment for applications utilizing confidential computing. The network leverages Trusted Execution Environments (TEEs) to ensure data privacy during processing. Phala enables developers to deploy applications that can handle sensitive data without exposing it to the public, thus addressing concerns related to data privacy and security in cloud computing. As of early 2024, Phala Network has made significant strides in enhancing its infrastructure and expanding its user base.
Phala Network was co-founded by a group of talented individuals, including Dr. Yifan He, who serves as the CEO, and Dr. Jianxiong Wang, the CTO. Dr. He has a background in computer science with a focus on blockchain technology, while Dr. Wang specializes in cryptography and secure computing. Together, they have brought extensive expertise to the project, aiming to push the boundaries of privacy in the blockchain space.
Phala Network operates by utilizing a combination of blockchain technology and TEEs. The primary components include:
Phala Network employs a unique consensus mechanism that combines Proof of Stake (PoS) and a specialized version of Proof of Authority (PoA) to maintain security and efficiency. The overall architecture allows developers to create decentralized applications (dApps) that require privacy and security, thus broadening the scope of blockchain use cases.
Phala Network supports various use cases, including:
Ensuring the safety of your Phala Network experience involves several best practices:
Investing in Phala Network (PHA) or any other cryptocurrency involves several steps:
1. Choose a Reliable Exchange: Select a reputable cryptocurrency exchange platform like Coinbase, Binance, or Okx. These platforms allow you to buy, sell, and trade cryptocurrencies.
2. Create an Account: Sign up for an account on your chosen exchange by providing the necessary personal information and completing the verification process.
3. Fund Your Account: Deposit funds into your exchange account using various methods like bank transfers, credit/debit cards, or wire transfers.
4. Buy Phala Network: Once your account is funded, you can purchase Phala Network directly from the exchange. Choose the desired amount and complete the transaction.
Botsfolio is a platform that automates cryptocurrency investments using trading bots. To invest in Phala Network using Botsfolio, follow these steps:
Botsfolio allows you to automate your cryptocurrency investments, potentially saving time and effort while optimizing your trading strategies.
Phala Network (PHA) is currently trading at $0.255 and exhibits good potential for future growth. Check the latest Phala Network (PHA) price prediction.
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