Live PHA Price Analysis
Phala Network’s current real-time price is US$0.1282and its trading volume is equal to US$5,963,881 in the last 24 hours. PHA price has grew by
0.38%
on the last day and increased by
3.21%
in the last 7 days. It is important to note that Phala Network’s current market capitalization is US$89,342,936Speaking of working resources, PHA has 696 789 467 coins. Phala Network’s current market rating is #375.
Fala Network price today
90.90%
below
always on top and that’s it
365.69%
higher
always at a low level.
All data and prices are updated in real time. The most active and popular exchanges for buying or selling PGA are Binance, Kucoin & Kraken. Find more cryptocurrency exchange options on our Cryptocurrency exchange tracker. The most secure hardware wallets to store your cryptocurrency: Ledger And Trezor.
What is Phala Network (PHA)?
PHA is the native token of the Phala network, which is permissionless computing protocol. Take a look at the Phala Network price chart above to see the current price of PHA.
Essentially, the Phala network allows users develop confidential smart contracts, and sell, buy or exchange data based on contracts. However, it also offers other features and services, including:
- Web3 analytics. An analytics creation center built on Web 3.0 and designed to be an alternative to Google Analytics.
- Scaffolding An inter-chain bridge that allows users to move currencies between Phala and other blockchains.
- FalaWorld. A gamification layer built on top of the Phala network.
- Fatal contract. An innovative programming model that enables off-chain computing.
Who founded the Fala network?
Cryptocurrency project Phala Network was founded Hang Yin, Marvin Tong, Zhe Wang and Jun Jiang.
Han Yin has a degree in computer science. He is also the lead developer of the Phala Network. Yin was formerly a senior software engineer at Google. In addition, he has extensive experience working with artificial intelligence.
Marvin Tong has a degree in business. Before co-founding Phala, he worked as a product manager at Tencent and DiDi.
Zhe Wang is an entrepreneur with a background in computer science. He is the former CEO of Xiaohei AI Games and CTO of Haha AI Vending Machine.
Jun Jiang is the webmaster of RubyChina. Before joining the founding team of Phala Network, he was the CTO of KnewOne and a software architect at DJI.
How does the Fala network work?
The Phala network was built using Parity Substrate, which is a blockchain development environment. This made the Phala network compatible with Dotted. However, in 2022, Phala won the 13th Polkadot slot auction and became official Polkadot parachain. Additionally, Phala has a Canarian network called Challahwhich runs on the Kusama network.
The Phala network uses a distributed computing architecture to separate computation from consensus.
To create a secure distributed computing cloud, Phala combines Hardware Trust Execution Environment (TEE) with blockchain technology. TEE is a feature CPU which can be found on computers or smartphones. Essentially, this allows Phala Network to create a secure environment for executing smart contracts while protecting against the disclosure of sensitive personal data.
Confidential smart contracts on TEE are executed working units. In general, there are three types of nodes: genesis node, gatekeepers and miners. Genesis Knot Responsible for setting up cryptographic parameters and running the network. gatekeepers ensure network availability and security. Miners fulfill confidential contracts.
Options for using PHA tokens
PHA is the native utility token of the Phala network. If you want to see the current price of PHA, be sure to check out the Phala Network price chart above. If we talk about use cases, the main ones are the following:
- Awards. PHA tokens are used to reward miners and gatekeepers.
- Payment means. PHA tokens are used to purchase computing resources, as well as pay data exchange fees.
- Control. By staking PHA tokens, users can become part of the Phala DAO and participate in the decision-making process regarding the Phala Network crypto project.
- Bid. Users who want to become gatekeepers or miners must stake PHA tokens.
PHA Tokenomics
The maximum supply of PHA tokens is 1 billion. 15% of this supply was allocated to the private sale of PHA, during which the price of PHA was $0.01. Speaking of the further distribution of PHA tokens, 70% of the supply was reserved for rewards, and the remainder was divided between developers, network testers and the PHA airdrop.
What is Phala Network’s trading volume in the last 24 hours?
PHA has trading volume US$5,963,881 in the last 24 hours.
What is the highest Phala Network price ever?
PHA has the highest price US$1.41which was achieved at May 15, 2021 (2 years 9 months ago).
What is the lowest price on Phala Network?
PHA has the lowest price $0.0275which was achieved at December 11, 2022 (1 year 2 months ago).
Which exchanges are best for buying and selling PHA?
Currently the most active and dominant exchanges for buying and selling Phala Network are Binance, Kraken & Kucoin. The most popular Fala Network trading pairs PHA/USDT
(on
Binance
),
PHA/USDT
(on
Gate.io
),
PGA/BTC
(on
Binance
). Go to Catalog of crypto trades to access customized and exclusive discounts, vouchers and welcome bonuses from the most popular exchanges.
Which hardware wallets are the most secure for storing PHA?
According to the process of in-depth analysis and testing, Ledger And Trezor are one of the most secure and popular hardware wallet options for storage Fala Network. For exclusive discounts and promotions on the best crypto wallets, visit Catalog of crypto trades.
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