PHALA

PHALA, ticker PHA, is the native token of the Phala Network, a project that describes itself as a privacy-preserving cloud computing platform built on the Polkadot ecosystem. It aims to let developers run confidential smart contracts and process sensitive data without exposing that data to the nodes handling the computation. The intended users are developers and organizations that need verifiable, private computation in a decentralized environment.

Phala Network uses a combination of blockchain coordination and Trusted Execution Environments, a hardware-based technology that keeps data encrypted even while it is being processed. PHA is used within the system to pay for computation, to stake by node operators who contribute processing power, and to participate in governance decisions. The data on file does not specify a consensus algorithm or block time, so a fuller mechanical description is not possible from what is stored here.

The data stored for this asset does not include a fee stream, revenue figures, or information about who pays or collects fees within the protocol. This means that the fee-based measures commonly found on this research site, such as protocol revenue or fee yield, are absent for PHALA and cannot be reported. At the point-in-time measurement recorded here, 840,496,260 PHA are in circulation out of a maximum supply of 1,000,000,000, representing 84.05 percent of the maximum supply already issued.