What is PHA?

Phala is a public chain, built in the Polkadot system ecology, focusing on privacy computing, and its official website slogan is "mosaic for the blockchain".

Basically this slogan looks pretty good, but it only expresses "privacy" without mentioning "calculation".

There are many features, the key points are as follows:

1. The consensus and calculation of PHA are separated.

Phala is a parallel chain on Polkadot. Its consensus is completed by Polkadot, and calculations are completed by all connected computing cores. Even if there is only one CPU running PHA in the entire network, it will not be attacked, because the consensus is built on Poka.

2. PHA is not traditional mining in theory

Because its "block reward" is not derived from mining blocks (such as BTC and ETH public chains), but "calculated reward". However, in the design of the economic model, as the block is generated, it will be distributed to the computing core token, which is similar to mining in terms of revenue. It can be understood as mining.

In detail, it can be considered that each epoch (period, time point) will have a reward distribution, or it can be considered that it will be accompanied by the KSM and DOT block .

Why: What problems can PHA solve?

Web3 cloud computing, or distributed privacy computing -- this is Phala's vision. It's hard to say whether Phala's can do it or not.

For now it can be assumed: it's hard to do.

The difficulty of distributed computing is much higher than that of distributed storage. The solution of distributed storage was only initially solved after the two mechanisms of proof of replication and proof of time and space were proposed by IPFS. However, privacy computing currently has no unified standard low-cost solution to verify the correctness of "arbitrary computing tasks".

There are many factors for the success of the project. For example, there is currently no commercial application cases for filecoin, which does not affect the fact that filecoin is an important encryption asset. Blockchain projects are all figuring out how to move forward.

Distributed privacy computing is currently difficult to provide a complete set of solutions (currently there is no project in the world that can really do it), but for the currently unconnected blockchain mining industry, PHA is an important target.

How: How to do it?

The consensus is handed over to the NPoS and Polkadot network, and the calculation is handed over to the CPU (a CPU that can perform TEE calculations is required).

Then the miners who provide TEE can also get calculation rewards, in order to gather computing resources when there is no ecological access and no practical computing tasks in the early stage, so in the early stage and for a long period of time, the main benefit of TEE miners is the so-called "Mining subsidies".

There are many teams doing privacy computing, such as PlatON (LAT), Oasis (ROSE), etc., which are all projects with strong technical strength and good background.

There are currently no refreshing solutions for privacy computing.

On the whole, Phala is still a good project in terms of current popularity and economic model. The influx of miners has various factors, and the influx of miners represents a certain guarantee for the stability of this mining currency project.