Buy PHALA (PHA)
What is PHALA?
Phala Network is a decentralised cloud computing platform that combines artificial intelligence with blockchain technology to enhance and streamline user experiences within the Web3 ecosystem. It offers a decentralised execution layer for AI and blockchain integration, enabling confidential smart contracts and secure data processing.
How does PHALA work?
PHALA operates by leveraging blockchain technology and Trusted Execution Environments (TEEs) to deliver a secure and private distributed computing platform. The Phala Blockchain is built on the Substrate framework, providing secure infrastructure for decentralized transactions. It uses a Nominated Proof of Stake (NPOS) consensus mechanism to maintain network security and decentralisation. TEEs are employed to ensure confidential computing by executing smart contracts in secure enclaves, preventing data leaks. Components like the Phala Node, pRuntime, and Pherry bridge work together to facilitate these secure operations.
What are the potential use cases for PHALA?
Phala Network's potential use cases range across various industries due to its integration of AI and blockchain. Applications include secure financial transactions, confidential medical data handling, and supply chain optimisation with AI. The network supports platforms like Agent Wars for AI agent monetization and Redpill for AI model aggregation. Partnerships with Polkadot and SubBridge enhance interoperability, while the PhalaWorld gamification layer offers unique engagement through NFTs.
What is the history of PHALA?
Phala Network was founded in 2018 by Marvin Tong, Hang Yin, Zhe Wang, and Jun Jiang, with a vision for enabling private computations in blockchain infrastructure. The project's significant milestones include launching several testnets in 2020 and securing over $10 million in funding. Initially, the PHA token was launched on Ethereum and Kusama networks. Technological evolutions like Phat Contracts and AI-Agent Contracts have been key developments, enhancing the network's focus on integrating AI with blockchain for secure and efficient computing solutions. Phala Network reached another milestone with the mainnet launch as a parachain on Polkadot.
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Frequently Asked Questions (FAQs)
What is the current price of PHALA (PHA)?
The PHALA price is $0.19197067 AUD, representing a -6.21% from the day prior.
Where is the best place to buy PHALA (PHA) in Australia?
The best place to buy PHALA (PHA) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell PHALA (PHA) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of PHALA (PHA)?
The trading volume of PHALA (PHA) is $20.5M AUD in the last 24hrs, representing a -6.21% from the day prior.
How can I buy PHALA (PHA)?
PHALA (PHA) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of PHALA (PHA)?
The current market cap of PHALA (PHA) is $146.3M AUD.
Can I convert PHALA (PHA) to cash?
Yes - With Coinstash you can convert your PHALA (PHA) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many PHALA (PHA) are there?
The current circulating supply of PHALA (PHA) is 770.8M.
Is Coinstash a safe place to buy PHALA (PHA) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling PHALA (PHA) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.