What is PHA coin? Introduction to the issue price, total amount and white paper of PHA coins

By leveraging blockchain technology, PHA Coin offers privacy-preserving computation services, enabling users to run computation tasks securely off-chain at a lower cost.

Nov 04, 2024 at 01:14 am

What is PHA Coin?

1. Definition

PHA Coin, also known as Phala Network, is a decentralized cloud computing platform that utilizes blockchain technology to provide secure and privacy-preserving computation services.

2. Key Features

Privacy-Preserving Computation: Enables users to run computation tasks on the network without revealing sensitive data.
Secure Off-Chain Execution: Tasks are executed off-chain, reducing blockchain transaction costs and network congestion.
Worker Incentive Model: Provides financial incentives to workers who contribute computing power to the network.

3. Issue Price and Total Supply

Issue Price: $0.06 (Initial Coin Offering, May 2021)
Total Supply: 970,306,600 PHA

4. White Paper

The PHA Coin white paper, published in May 2021, outlines the following key aspects:

Problem and Solution: Addresses the need for secure and efficient off-chain computation in a decentralized setting.
Technology: Describes the underlying blockchain and privacy-preserving computation mechanisms used by the network.
Tokenomics: Explains the distribution and use of PHA coins within the Phala Network ecosystem.

5. Conclusion

PHA Coin plays a crucial role in the Phala Network platform, enabling the participation of stakeholders, the execution of computation tasks, and the maintenance of the network's security and efficiency. Its privacy-preserving capabilities and secure off-chain execution make it a promising solution for various industries, such as healthcare, finance, and supply chain management.

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