Today, what I want to introduce to you is PHA currency, which may be unfamiliar to some novice investors. Phala is a TEE blockchain hybrid architecture protocol based on Substrate. According to the innovative design, the composability between contracts, even across chains, has been completed. So, what exactly is PHA currency? What are its future prospects? Next, let's have a look.

What is PHA currency?

It is understood that PHA coin belongs to token, which is one of the tokens in the ecological concept of Poka. It aims to become an extensible heterogeneous multi chain architecture. Under the basic functions of ensuring security and transmission, it can weaken the internal correlation according to the incentive system of non trusted nodes.

Phala aims to become a Web3.0 privacy protection infrastructure. It is developed based on Substrate and completes confidential smart contracts through TEE blockchain architecture, which can provide privacy computing services for Poka Ecology.

Phala is Poka's private computing infrastructure. Phala Network is a parallel chain of privacy computing on the wave card. Based on the economic incentive mode like pow, Phala releases the hidden and private computing rates in numerous CPUs and applies them to the parallel chain of the wave card, thus serving other applications such as Defi and network services on the wave card. The applications pLibra and Web3Analytics based on Phala have obtained the grant of web3 Foundation.

PHA is the native functional token of the platform and has the following use cases:

1. Trusted computing resources: PHA tokens are used to purchase trusted computing resources (such as trusted computing capacity, on chain computing and storage resources and their off chain storage) in the network and data transmission.

2. Data transmission fee: Phala brings a contract based data transmission infrastructure to standardize data collection, analysis and transaction protocols. Using Phala's agreement, we have established a confidential but trustworthy trading ecosystem for both parties.

3. Security guarantee: Gatekeeper must pledge a certain amount of PHA tokens, which may be punished due to improper behavior.

4. Remediation: A certain number of PHA holders can add Phala DAO to participate in community governance.

What is the future prospect of PHA coin?

Phala is really a very good project. You can often see them. After all, it is the most important privacy protection agreement for WEB3.0 infrastructure. As we all know, foreigners pay much attention to privacy, so Phala is very popular abroad.

In terms of token distribution, 70% of PHAs are produced by miners, and 9% are obtained free of charge by parallel chain slot bidding. In this way, 79% are distributed to communities, and only 5% are occupied by teams. After the main network is online, 1% is released. It can be said that token distribution is full of conscience. The founding team has a layout and is willing to return most of the cakes to the community.

Therefore, the information obtained by the small editor is that Phala just released a small circulation, and Phala's investment organization lineup is also very luxurious, such as Candaq, IOSG, SNZ and other organizations.

It is also found that Fire Coin has opened the Poka ecological section separately, which indicates that Fire Coin also measures the situation of the Poka ecological layout. In terms of hot speculation, Phala, as the first Poka ecological project to release Fire Coin, is still worth looking forward to.

Speaking of this, I believe you have a certain understanding of what PHA currency is and what its future prospects are. In general, Xiao Bian also reminds investors that although the prospect of PHA coin is promising, we should not expect to get a return soon after investment, which is unrealistic. Moreover, any investment is accompanied by a certain risk. Before entering the site, everyone must have a comprehensive understanding, and do not invest blindly.