From April 18th, we officially list Phala.Network Token (PHA) on the ONUS application. Soon after PHA is added, users can perform the following features:
- Off-chain transactions: Send and receive PHA with other users in the ONUS network.
- Exchange: Swap from VNDC or USDT to PHA and vice versa.
About Phala Network
Phala Network is a privacy-preserving cloud computing service that is designed to offer computing power comparable to existing cloud services and protects the privacy of managed programs. Phala Network aims to provide these services through a decentralized, global network of computing resources with the ability to scale for performance while also optimizing for confidentiality and security. Phala Network is based on Substrate and will run as a parachain of the Polkadot ecosystem. Therefore, Phala Network benefits from Polkadot’s and Kusama’s base features such as security and cross-chain interoperability with other parachains on Polkadot. In addition, Phala Network applies TEE (Trusted Environment Execution) which allows confidential data to run in an isolated and private environment and outputs results alone with authorization.
What is PHA Token?
PHA is a native token of the Phala Network ecosystem and can be used to:
- Purchase trusted computing resources in the network and the data exchanges (e.g. trusted computing power, on-chain computing and storage resources, and off-chain storage).
- Stakeholders who own a certain amount of PHA are able to join the Phala DAO to participate in community governance.
- Name: Phala.Network Token
- Symbol: PHA
- Platform: Ethereum
- Standard: ERC20
- Type: Utility, Governance
- Smart Contract Address: 0x6c5bA91642F10282b576d91922Ae6448C9d52f4E