Phala Network$PHA

What is this network?

Phala Network is a decentralized cloud computing network that provides off-chain compute infrastructure for dApp developers. It is designed to be truly decentralized and trustless, allowing developers to supercharge their dApps with seamless cross-chain integrations, connectivity to the internet, and heavy computation. The network uses trusted execution environment (TEE) technology found in computer processors to provide secure and private cloud computing capabilities. It is built on the Polkadot blockchain as one of its parachains.

How can I mine tokens?

To mine tokens on the Phala Network, you need to become a compute-providing Worker for the network. This involves allowing Web3 applications to run programs on your hardware. Anybody with the correct hardware can become a Worker for the network and earn rewards. To participate in PHA mining, it is necessary to stake 1.620 PHA tokens for each CPU core used in mining.

How can I optimize my mining rewards?

Optimizing mining rewards on the Phala Network involves understanding the network's tokenomics and how rewards are calculated. The network uses a system called Gemini Tokenomics, which defines how workers get their rewards by sharing computing power. A worker's rewards are influenced by several factors, including their stake, their performance score, and the network's tokenomics parameters. Understanding these factors and adjusting your mining strategy accordingly can help optimize your mining rewards.

How can I use the network?

Developers can use the Phala Network by deploying Phat Contracts, programs that run on Phala Network’s off-chain Workers that can interface with Smart Contracts on any chain. The network offers a no-code experience, Phat Bricks, which uses pre-written, audited Phat Contracts to form complex functions called Blueprints that developers can integrate with their Smart Contracts in minutes. Developers with experience using Rust, ink!, JavaScript, or TypeScript can jump into Native Phat Contract and write their own custom programs to service any number of use cases.

Who governs this network?

The Phala Network's development is overseen by the Phala Network Foundation as well as users participating in the network's governance. The network is designed to be a public good network, meaning that it is built and maintained by a community of users who have a stake in its operation and success.