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Phala Network market info
Market cap
Market cap is calculated by multiplying the circulating supply of a coin with its latest price. Market cap = Circulating supply × Last price
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Total amount of a coin that is publicly available on the market.
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Been itching for something to play? Try @PixelHeroesMMO! 🎮
Here's Ryan with a quick overview of Pixel Heroes Adventure (PHA), one of the fun games LIVE on Ronin!
We're hearing something cool could be coming soon. 👀
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Phala Network
GM.
What a way to start the week!
Hang | h4x3rotab.eth ₱ 🍵💊
It’s now a part of your favorite TEE cloud.
288 cores. 3TB RAM. And 1000+ CVMs.
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Nihilus
$PHA
Longed.
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Marvin Tong (t/acc) reposted
Phala Network
GM. 🫖
Great read this morning: Phala researcher Leon, @mondaylord19, just published an article on the Flashbots forum, exploring the resilience, recovery, and service continuity of Phala’s VRF key.
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Phala Network
Great deep dive by @paramonoww on how TEE, MPC, FHE, and ZKP complement each other.
Phala is proud to be the TEE foundation layer enabling projects such as @0xfairblock, @primus_labs, etc. to enhance security and privacy in Web3.
Pavel Paramonov
TEE, MPC, FHE, and ZKP are not competitors. They're friends.
Discussions often compare this tech to determine which one is superior.
In reality, these technologies are not mutually exclusive and can function together and complement each other.
1. Each solution has trade-offs, but they are unrelated
> MPC doesn’t have a single point of failure, but requires heavy data exchange
An MPC protocol typically unfolds in three stages.
1. Users secret-share their private inputs, sending encrypted data to computing nodes, ensuring security through non-collusion or a full threshold model (all nodes must collude).
2. Nodes compute these secret shares.
3. Nodes return their shares of the output to users, who reconstruct the result.
MPC works best with well-connected nodes, but its cost comes from heavy data exchange between them, so we mainly face overhead in communication problems.
In many standard MPC protocols, each node communicates with every other node for operations like multiplication gates.
This results in quadratic communication complexity O(n²). What does it mean?
• For example, with 10 nodes and a 1 KB computational complexity, the data exchange is approximately 100 GB.
• With 100 nodes, it reaches about 10 TB.
MPC's data exchange limits practical applications to 2–10 nodes due to communication overhead. So, unlike blockchain, fast MPC with hundreds of nodes isn't yet feasible.
> FHE requires less data, but more computation resources
FHE addresses a long-standing challenge: how to enable secure computation on encrypted data without requiring decryption?
A user can encrypt their sensitive data, upload it to a server, and the server can execute computations on this ciphertext (encrypted message).
The resulting output, still encrypted, can then be decrypted by the user using their private key, unlike traditional End-to-End Encryption (E2EE) where computation on encrypted data is not feasible.
FHE uses less data transfer than MPC, but requires significantly more server-side computation.
This makes FHE generally slower than MPC, except in situations with extremely slow networks or very powerful computing infrastructure.
• Simple database query taking milliseconds unencrypted can stretch to 2–10 seconds with FHE
• AI inference with FHE takes seconds to minutes compared to milliseconds for unencrypted operations
> ZK is not about general computations, and it has a privacy problem
While all these technologies enable private computations, ZKPs specifically generate proofs with "true" or "false" (boolean) outcomes.
As most people know, ZKPs are widely used in zk-rollups, which are succinct proofs with a small, fixed size and fast verification, ideal for on-chain use.
However, zk-rollups utilize the soundness and succinctness of, but not their zk property.
While ZKPs ensure that a false proof can't appear valid (soundness) and that anyone can verify a proof, a privacy issue arises in zk-rollups.
The entity running the zk circuit has full access to the input data during computation, meaning sensitive data visible to the prover. This compromises the privacy of private user inputs.
> TEE is cheap and fast, but also vulnerable to side-channel attacks
Unlike other privacy technologies, TEEs rely on specific hardware, such as Intel’s SGX.
The security model of TEEs is less transparent than other methods, and vulnerabilities have been identified in various TEE implementations.
2. Different tradeoffs — different ways to complement them
Every technology suffers from different problems and also has different pros, so to say that some technology is far better than another without giving any context is certainly incorrect.
Each option can't perform better in certain situations than other options and vice versa.
To give an example:
• Collusion problem doesn’t relate in any way to TEE, because there is only an isolated environment where collusion is impossible
• ZKPs can’t relate in any way to MPC or FHE in terms of computations, because ZK technology is only related to generating boolean proofs
• TEE’s main trust assumption is hardware being hacked, while the main problem with hardware in FHE is that it has to be fast enough and performant
• We are talking about the same subject (hardware), but there are absolutely polar points to think about
Following this logic, I decided to take a deeper look into this and see where different technologies can complement each other and offer a better solution.
3. Synergies and Complementary Roles
Let’s take TEE as a certain foundation and see how different combinations can work and how we can fix the problems in those options.
> TEE + MPC
Issue: TEEs rely on hardware-based keys for privacy, creating issues with data portability and potential censorship.
Solution: MPC can solve this by replacing hardware keys and serving as a key management service for TEEs.
MPC solutions can run computations inside TEEs to ensure that each party’s operations are isolated and secure, making it even more secure, and there are multiple protocols doing this already.
• If we look at it from the other way around and see how TEE can benefit from MPC, it's by replicating isolated environments, making them more distributed
• Instead of trusting one TEE to handle everything, MPC spreads the responsibility across several TEEs
• TEE can distribute trust across multiple secure enclaves and reduce dependence on a single TEE instance
• Each enclave contributes to the computation without needing to fully trust the others because of MPC's cryptographic guarantees.
> TEE + FHE
Problems with TEE (side-channel attacks) and FHE (huge computation resources) are different, as are the techniques they bring.
Running code in an isolated environment is not the same as having technology to run computations on decrypted data.
Here, TEE seems like an overhead, because pure code is running in an isolated machine and requires decryption, while FHE allows developers to run computations on already encrypted data.
While it may be true in some capacity that TEE is technological overhead, using FHE has another overhead of really high computational resources.
Approximately, when using TEE, there’s a 5% overhead, while using FHE, the overhead is around 1,000,000x.
While it might seem like TEEs and FHE could create overhead for each other, I'm exploring using TEEs to securely manage decryption keys or handle performance-intensive tasks that FHE struggles with.
If we look into it from another way, FHE can allow TEE to process encrypted data directly while TEE manages the keys.
> TEE + ZK
There is also an example of how efficient the usage of TEE and ZK is using TEE for zkVM proving.
Issue: outsourcing zkVM proving to any other device is problematic, because privacy becomes at risk as the prover typically needs access to inputs.
Solution: If we run zkVM inside a TEE, the computation occurs within a secure enclave and prevents the host from accessing the data.
The TEE provides attestation that the proof was generated correctly.
For instance, @PhalaNetwork uses TEE-enabled GPUs to run SP1 zkVM, achieving less than 20% overhead for complex workloads like zkEVMs.
4. Phala as TEE Foundation
Phala builds the decentralized TEE cloud in crypto, so anyone can leverage TEE and use it for their purposes, including teams whose main product offering is either MPC, FHE, or ZK.
I wanted to learn more and explore the teams that are using Phala for these purposes.
> Phala + MPC
@0xfairblock does confidential computing to mitigate centralized risks and prevent information leakage and manipulation in apps, where their main technology is MPC.
However, they can still benefit from TEEs:
• Phala's TEE enclave generates private keys, which are then threshold-encrypted and split into shares for storage across Fairblock's MPC
• Smart contracts monitor TEE operations by requiring regular submission of encrypted keys and basically act as a failure detection mechanism
• If TEE fails, smart contracts trigger Fairblock's MPC to privately reconstruct and decrypt the keys to maintain share confidentiality.
In such a setting, keys remain encrypted within TEEs at all times, with MPC ensuring that no single party can access the complete key.
Automated recovery mechanisms safeguard against data loss due to system crashes or reboots.
> Phala + zkTLS
There are a lot of zk protocols using Phala, but I want to highlight @primus_labs, because their core offering is around zkTLS.
I already did a comprehensive article on zkTLS, but the most important thing you have to know is that in zkTLS, the attestor serves as a validator looking at encrypted data streams to verify their authenticity.
Difficulty: reducing reliance on the attestor’s trustworthiness.
• Using Phala's Dstack, attestors in Primus can run the attestations inside a TEE to make sure that every ZKP is backed by attestation issued inside a TEE.
• In that case, anyone can verify the proof using an attestation explorer.
TEE keeps latency low and doesn’t come with any time overhead.
> Phala + FHE
@sporedotfun uses both FHE on the @mindnetwork_xyz side and TEE on the Phala side.
In Spore's staking-to-vote system, attackers can stake tokens before deadlines to mislead voters, then unstake and distort outcomes and markets.
Difficulty: strike a balance between transparency and security to ensure governance decisions align with long-term contributors’ intentions.
• To counter vote sniping, Spore adopts FHE via Mind Network and enables blind voting that protects voter privacy.
• FHE keeps votes encrypted to eliminate the ability for snipers to vote maliciously.
• TEE provides a zero-trust environment for aggregation and publication of votes before final publication.
5. Possibilities are infinite, but it's worth considering the risks & performance overhead
As I said before, there are a lot of use cases possible with TEE foundation, so possibilities are infinite.
The main consideration is this one:
• The industry is currently experiencing a growing demand for complex computations, primarily driven by AI
• Rapid expansion of the AI sector increases performance requirements.
• As performance demands rise, we must consider not only the performance and security features of specific technologies but also their costs.
To provide approximate performance overhead estimates using rough figures, the following projections are:
• TEE — 5% overhead
• MPC — 100x overhead
• ZK — 1,000x overhead
• FHE — 1,000,000x overhead
As we can see, TEE introduces very little overhead to any system and is basically the most performant and cost-effective environment for complex computations like AI inference.
In current systems, and even more so in future systems, developers should consider TEE as one of the parts of the final system design, even if the core offering is not around TEEs.
TEE not only mitigates individual trade-offs of MPC, FHE, or ZK, but also unlocks a lot of possibilities for developers and users.
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Phala Network price performance in USD
The current price of Phala Network is $0.12728. Over the last 24 hours, Phala Network has increased by +4.40%. It currently has a circulating supply of 798,455,477 PHA and a maximum supply of 1,000,000,000 PHA, giving it a fully diluted market cap of $102.61M. At present, Phala Network holds the 0 position in market cap rankings. The Phala Network/USD price is updated in real-time.
The rating provided is an aggregated rating collected by OKX from the sources provided and is for informational purpose only. OKX does not guarantee the quality or accuracy of the ratings. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly, and can even become worthless. The price and performance of the digital assets are not guaranteed and may change without notice. Your digital assets are not covered by insurance against potential losses. Historical returns are not indicative of future returns. OKX does not guarantee any return, repayment of principal or interest. OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/ tax/ investment professional for questions about your specific circumstances.
By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates ("OKX") are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets.
Phala Network (PHA) is an advanced blockchain technology that enables private computing and secure software development. Built on the Substrate framework, this cloud service offers flexibility in addressing the increasing need for data privacy in today's information economy.
What is Phala Network?
Phala Network merges blockchain's decentralization and security features with the privacy offered by secure computing environments. This unique combination empowers developers to confidently build and utilize applications that handle sensitive data. With a mission to preserve the freedom and confidentiality of the Internet, Phala Network strives to become the leading infrastructure for blockchain privacy.
Phala Network team
The Phala Network is led by a team of highly skilled and experienced blockchain developers and enthusiasts. Co-founder and CEO Marvin Tong, who previously served as the technical head of the blockchain laboratory at Tencent, brings invaluable expertise to the project.
Hang Yin, another co-founder, and the chief scientist, leverages his experience as the chief blockchain scientist at Ethereum Classic Labs. The team also benefits from the contributions of Shunfan Zhou, a former project lead at DOTWallet, who adds to their wealth of knowledge and experience.
How does Phala Network work?
Phala Network operates through a confidential smart contract called "pallets." These pallets are executed within a secure environment called the Trusted Execution Environment (TEE), which resides in a protected area of the central processor. The TEE ensures data is processed securely and in isolation, safeguarding it against external exposure or leaks.
Phala Network collaborates with the Polkadot Network to enhance its security and scalability. The network architecture comprises two key components: the Phala Blockchain and the runtime. The Phala Blockchain handles consensus and on-chain governance, while the runtime operates within the TEE, executing confidential contracts and facilitating secure data processing.
Phala Network native token — PHA
The native token of Phala Network is called PHA. Within the Phala ecosystem, the PHA token serves multiple utility functions. It acts as a medium of exchange in the Phala marketplace, rewarding miners for their contributions, and can be used as a staking currency.
The road ahead for Phala Network
The future of Phala Network holds great promise as the platform aims to improve the blockchain ecosystem significantly. With ambitious growth and service enhancement goals, Phala Network is set to achieve new milestones. Notably, the upcoming integration with Polkadot and the introduction of the decentralized data analysis tool Web3 Analytics will bolster Phala's scalability and effectiveness.
One of the critical focuses of Phala Network is to enhance its privacy infrastructure. This involves refining technologies like Trusted Execution Environment (TEE) and secure zones to provide even stronger privacy measures. Additionally, Phala Network is committed to developing user-friendly tools, documentation, and resources for developers, fostering ecosystem growth and making it easier for developers to build privacy-focused applications on the platform.
Interoperability is another crucial aspect of Phala Network, recognizing the importance of seamless integration with other blockchain networks and traditional systems. The network aims to establish bridges and integration points that enable data transfer and assets between different platforms, expanding its reach and utility.
Phala Network places great emphasis on community engagement and governance. The network actively encourages community participation by organizing events, forums, and initiatives. Moreover, token holders can actively participate in decision-making processes, shaping the future direction of Phala Network.
Phala Network (PHA) is a secure cloud computing service that offers a platform for developing personal computing applications.
How does Phala Network work?
Phala Network utilizes confidential smart contracts through a Trusted Execution Environment (TEE). By employing this method, Phala Network ensures the preservation of data privacy and security while harnessing the advantages of blockchain technology.
Where to buy PHA?
Easily buy PHA tokens on the OKX cryptocurrency platform. One available trading pairs in the OKX spot trading terminal is PHA/USDT.
Currently, one Phala Network is worth $0.12728. For answers and insight into Phala Network's price action, you're in the right place. Explore the latest Phala Network charts and trade responsibly with OKX.
What is cryptocurrency?
Cryptocurrencies, such as Phala Network, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.
When was cryptocurrency invented?
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as Phala Network have been created as well.
Watch this video to learn about what happens when you move your money to a crypto exchange.
ESG Disclosure
ESG (Environmental, Social, and Governance) regulations for crypto assets aim to address their environmental impact (e.g., energy-intensive mining), promote transparency, and ensure ethical governance practices to align the crypto industry with broader sustainability and societal goals. These regulations encourage compliance with standards that mitigate risks and foster trust in digital assets.
Asset details
Name
OKcoin Europe LTD
Relevant legal entity identifier
54930069NLWEIGLHXU42
Name of the crypto-asset
Phala
Consensus Mechanism
The crypto-asset's Proof-of-Stake (PoS) consensus mechanism, introduced with The Merge in 2022, replaces mining with validator staking. Validators must stake at least 32 ETH every block a validator is randomly chosen to propose the next block. Once proposed the other validators verify the blocks integrity. The network operates on a slot and epoch system, where a new block is proposed every 12 seconds, and finalization occurs after two epochs (~12.8 minutes) using Casper-FFG. The Beacon Chain coordinates validators, while the fork-choice rule (LMD-GHOST) ensures the chain follows the heaviest accumulated validator votes. Validators earn rewards for proposing and verifying blocks, but face slashing for malicious behavior or inactivity. PoS aims to improve energy efficiency, security, and scalability, with future upgrades like Proto-Danksharding enhancing transaction efficiency.
Incentive Mechanisms and Applicable Fees
The crypto-asset's PoS system secures transactions through validator incentives and economic penalties. Validators stake at least 32 ETH and earn rewards for proposing blocks, attesting to valid ones, and participating in sync committees. Rewards are paid in newly issued ETH and transaction fees. Under EIP-1559, transaction fees consist of a base fee, which is burned to reduce supply, and an optional priority fee (tip) paid to validators. Validators face slashing if they act maliciously and incur penalties for inactivity. This system aims to increase security by aligning incentives while making the crypto-asset's fee structure more predictable and deflationary during high network activity.
Beginning of the period to which the disclosure relates
2024-06-08
End of the period to which the disclosure relates
2025-06-08
Energy report
Energy consumption
149.12207 (kWh/a)
Energy consumption sources and methodologies
The energy consumption of this asset is aggregated across multiple components:
To determine the energy consumption of a token, the energy consumption of the network(s) ethereum is calculated first. For the energy consumption of the token, a fraction of the energy consumption of the network is attributed to the token, which is determined based on the activity of the crypto-asset within the network. When calculating the energy consumption, the Functionally Fungible Group Digital Token Identifier (FFG DTI) is used - if available - to determine all implementations of the asset in scope. The mappings are updated regularly, based on data of the Digital Token Identifier Foundation.
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