Focus on Growth - The Past and Present of PHA Token (Research)

Has everyone noticed the PHA token that has increased fivefold in a week?

It is the native functional token of Phala Network, playing an important role in the Polkadot ecosystem. Phala Network is a privacy computing platform aimed at providing privacy protection infrastructure for Web3.0. It is developed based on the Substrate framework and implements confidential smart contracts through a Trusted Execution Environment (TEE) blockchain architecture.

Some key information about PHA:

1. Total Supply: The total supply of PHA is 1 billion tokens.

2. Purpose:

- Trusted Computing Resources: Users can purchase trusted computing resources in the network using PHA.

- Data Exchange Fee: Used for data exchange services related to standardizing data collection, analysis, and trading protocols.

- Security Guarantee: Miners or validating nodes need to stake PHA as a security deposit.

- Governance: Users holding a certain amount of PHA can participate in network governance.

3. Mining Mechanism: Phala Network has adopted a TEE-blockchain integration architecture to implement confidential smart contracts, allowing miners worldwide to participate in the privacy computing cloud network. Currently, mining only supports Intel CPUs, but future compatibility with AMD may be possible.

4. Value and Prospects: With the growing demand for privacy protection and the collaboration between Phala Network and other projects like Polkadot and Chainlink, PHA has certain investment potential.

5. Circulation Status: As of early 2024, the circulating supply of PHA is approximately 170 million tokens, with a specific proportion allocated to TEE mining, private placements, ecological development, and parachain slot auctions.

In summary, PHA is not only a digital asset but also an important component of the operation and development of Phala Network. The strong surge in the past couple of days has also caused some fear of heights.