Phala Network company info

What does Phala Network do?
Phala Network (CRYPTO:PHA) is a blockchain-based privacy protocol that enables secure, confidential communication and data transfer for enterprises and individuals. It was built with a focus on scalability and privacy, providing users with a secure, private, and easy-to-use platform. Phala Network is powered by Substrate, a secure, lightweight blockchain platform developed by the Web3 Foundation. Substrate provides the foundation for Phala’s advanced privacy protocol, combining secure data encryption with blockchain technology. Phala's protocol is designed to provide end-to-end encryption for data and communications, allowing users to securely send and receive data and messages without fear of anyone intercepting their data. Phala Network is set to revolutionize the way data is shared and managed on the blockchain. With its innovative privacy protocol, Phala Network can be used to build a wide range of privacy-preserving applications, such as secure messaging, private data storage, and confidential data analytics.
Phala Network company media
Company Snapshot

How many people does Phala Network employ?

people
Employees
11-50

What is the market cap for Phala Network?

bag
Market Cap
$136.2M

Where is the head office for Phala Network?

location pin
Head Office
Singapore

What year was Phala Network founded?

founded flag
Year Founded
2019
What does Phala Network specialise in?
/Account Abstraction /AI & Big Data /Data Availability /Distributed Computing /DWF Labs Portfolio /Ethereum Ecosystem /Generative AI /Interoperability /Metaverse /Oracles /Polkadot /Polkadot Ecosystem /Polygon Ecosystem /Privacy /Rollups /Scaling /Smart Contracts /Substrate /Web3 /Zero Knowledge Proofs

What are the products and/or services of Phala Network?

Overview of Phala Network offerings
Cloud Computing Privacy: The network offers cloud computing services that prioritize data privacy, ideal for organizations seeking secure data processing and storage solutions.
Confidential Smart Contracts: Phala Network enables developers to create smart contracts that preserve user data privacy, making it ideal for applications that require confidentiality, such as healthcare or finance.
Data Privacy Services: PHA provides data privacy solutions for businesses and developers, ensuring that sensitive information remains confidential during processing and storage.
Decentralized VPN: Users can utilize Phala Network as a decentralized VPN to enhance their online privacy and security while using the internet.
Incentive Mechanisms: Phala Network incorporates various incentive mechanisms to encourage participation, including staking and mining rewards, fostering a robust and decentralized ecosystem.
Privacy-First Computing: PHA facilitates privacy-preserving computations, allowing users to securely process sensitive data without exposing it, thus enhancing data protection and security.