Phala Network is the decentralized cloud for secure, trustless and generic computation, which tackles the issue of trust in the computation cloud.
PHA is the native utility token of the platform and has the following use cases:
Phala Computing Service: under Phala's stake-to-compute model, the PHA corresponds to the amount of computing power a user can rent. For example, users can stake PHA to rent miners to form clusters, developers pay PHA to cluster owners to deploy the contracts.
Governance: Phala community members can use PHA for governance and vote for decisions on Phala.
Pay gas fee: PHA acts as the gas fee when users claim spirit NFT in Phala World or transfer assets on SubBridge