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

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

It is the native utility token of Phala Network, playing an important role in the Polkadot ecosystem. Phala Network is a privacy computing platform aimed at providing privacy-preserving 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 the PHA token:

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

2. Use:

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

- Data Exchange Fees: Used for standardized data collection, analysis, and trading protocol data exchange services.

- Security Assurance: 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 it may be compatible with AMD in the future.

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

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

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