Phala Network has migrated from the Polkadot ecosystem to Ethereum by launching a new Layer 2 network on Ethereum. The new network aims to provide innovative solutions for secure and private smart contracts using OP Succinct technology. This step will allow Phala to bring TEE (Trusted Execution Environment)-based cryptographic computation technologies to Ethereum users.
New Network Uses OP Succinct Technology
Phala Network operates as a parachain in the Polkadot (DOT) ecosystem, and aims to join the Ethereum ecosystem with this new Layer 2 network. Launched on Ethereum, the network was developed in collaboration with Phala (PHA) and infrastructure providers Succinct Labs and Conduit. The new rollup uses the "OP Succinct" technology, which combines optimistic and zero-knowledge proofs. With this step, Phala has joined Ethereum's rapidly growing Layer 2 ecosystem and contributed to the growth of the network.
Phala's Migration to Ethereum and Cryptographic Solutions
Phala Network aims to make its cryptographic computational solutions available to a wider audience by migrating from Polkadot to the Ethereum ecosystem. Ethereum’s Layer 2 solutions have gained momentum in recent years, reaching over 100 rollup chains by 2024. Phala’s move to Ethereum will allow the company to implement its cryptographic computational solutions in a wider area.
“This move on Ethereum provides an opportunity to bring our innovative solutions to the largest smart contract platform,” the project said in a statement regarding this expansion. The company stated that this transition will increase performance and security for Ethereum users.
Secure Calculation Solutions with TEE Technology
Phala Network is known for using Trusted Execution Environments (TEE) technology to provide secure decentralized computation solutions. TEE allows developers to create smart contracts that interact with sensitive data by enabling code to be executed securely and privately. In this way, Phala will enable smart contracts that perform secure and private data transactions to become more widespread.
Phala and ai16z Collaboration: Eliza TEE System
Finally, Phala Network has partnered with AI agent development platform ai16z to develop a TEE system called Eliza, which allows AI agents to interact securely and privately. With the move to Ethereum, Phala aims to make its innovative technology available to a wider range of users and to apply it in more areas.
With this strategic move, Phala Network plans to gain a bigger foothold in the Ethereum ecosystem and aims to increase innovation in the industry by making their technology available to a wider user base.