Phala Network (PHA)
Rank #617
Market snapshot
- Price
- $0.02594
- Market cap
- $21.8M
- 24h volume
- $14.3M
- Circulating supply
- 840,496,260.4928
- Total supply
- 1,000,000,000
- Max supply
- N/A
What is Phala Network?
Phala Network (PHA) is a cryptocurrency designed to provide privacy and security for decentralized applications. It leverages zero-knowledge proofs to ensure that data can be processed without revealing the underlying information. This enables secure interactions in various applications, particularly in areas where data confidentiality is.
How Phala Network works
Phala Network operates on a decentralized architecture that utilizes cryptographic attestations. These attestations allow users and systems to verify the workload and runtime state of applications without exposing sensitive data. The network is integrated with the Ethereum platform, and it supports smart contracts, facilitating interoperability with other blockchain systems.
Key information
- Symbol
- PHA
- CMC rank
- #617
- Network / platforms
Ethereum
- Categories
- N/A
- Date added
- Sep 13, 2020
Contract address
Contract addresses are stored from CoinMarketCap metadata and are shown as recorded. CoinLoom does not independently certify them as official.
Ethereum
0x6c5bA91642F10282b576d91922Ae6448C9d52f4E
Key characteristics
Phala Network features cryptographic attestations that enhance privacy by allowing verification without data exposure. It is open-source, enabling developers to participate in its ecosystem. The network is categorized under several tags by CoinMarketCap, including zero-knowledge proofs, smart contracts, and distributed computing.
Official resources
Risks
Digital asset prices can be volatile and can change materially. Users should verify the contract address and network before transferring assets. Self-custody requires secure private-key and recovery-phrase handling. Centralized platforms can involve operational, custody, and counterparty risk. Availability and regulatory treatment can vary by jurisdiction. Transaction finality and reversibility can differ by network.
Transfer and custody notes
Verify the asset name, network, and any supplied contract details before transferring. Verify destination address and network before sending assets. Review the custody method, including self-custody versus a third-party platform. Understand that transfers may be irreversible and that CoinLoom does not confirm exchange availability.
FAQ
- What is Phala Network?
- Phala Network (PHA) is a cryptocurrency focused on providing privacy and security for decentralized applications.
- How does Phala Network operate?
- Phala Network operates on a decentralized architecture utilizing cryptographic attestations to verify workloads without exposing sensitive data.
- What are the key technical features of Phala Network?
- Phala Network features cryptographic attestations and is open-source, allowing developers to participate in its ecosystem.
- What are the risks associated with transferring Phala Network assets?
- Digital asset prices can be volatile, and users should verify contract addresses and custody methods before transferring assets.
- How can I safely acquire Phala Network assets?
- Verify the asset name, network, and contract details before transferring, and review custody methods.
- Where can I find official resources for Phala Network?
- Official resources for Phala Network can be found on their website and GitHub repository.
Related cryptocurrencies
Listed from stored network and category relationships, not a similarity score.
