Please welcome Phala Network as a new member of BerChain e.V.!
For a better understanding about the focus of Phala Network and their decision to join us, we prepared a small interview.
Phala Network is a Web3.0 computing cloud that supports data privacy while remaining trustless. Unlike centralized cloud service, Phala doesn’t own any server or data center. Anyone can provide permissionless servers into Phala Network, and because of a clever combination of blockchain and trusted execution environments (TEE), we can make sure the servers can’t be evil even when they are in an edge network situation. Together, this creates the infrastructure for a powerful, secure, and scalable trustless computing cloud.
As a technology-driven project, Phala firmly believes in taking a collaborative approach to community is the best way to get close to blockchain supporters, and we are working on expanding its influence around the world. So when we get an opportunity to build further connections with German blockchain developers and community at the same time through Berchain’s support, we know there is nothing better than that! Furthermore, we also plan to hold some local events here in the future, Berchain is experienced and we can learn a lot.
Traditional smart contracts still have great limitations and cannot drive most real-world applications. Although decentralized storage protocols such as Arweave and Filecoin have been widely used, the corresponding decentralized computing service field is still empty. We firmly believe that Web 3.0 requires a more versatile, easy-to-use, and sharing economy-based solution to achieve high availability and supercomputing power. Phala is committed to providing a universal decentralized computing network that can be freely combined with decentralized smart contracts, storage protocols, and data indexing services.
We would talk about technology trends rather than the industry( industry is big), such as serverless, edge computing, federated learning, etc., as a matter of fact, it is data sharing ready to move. Speaking from a macro point of view with popular language, it is an ascending spiral among new technology- partial efficiency improvement- safety & ethical legitimacy.
The underlying logic of this technological trend partially tends to guarantee security and human rights. Local efficiency is limited but the overall basis is better. After that, it may be the rise of new scenarios based on new digital infrastructure.
We announced the Fat Contract weeks ago, it’s a smart contract product based on the Phala privacy contract concept. In short, this is a new type of smart contract product that focuses on serving Web 3.0 back-end function-level services.
Different from the EVM “traditional smart contract”, it has the following characteristics: low latency, asynchronous Interoperability, high-performance computing and mature developer ecology, trustless and data confidentiality.
After two years of exploration and development, we recommend the scenarios below:
We expect to launch the V0 version of Fat Contract in December 2021. You can get more details from this article.
In addition, the Secure Worker Mining mechanism has been running steadily on Khala Network for over two months. Although Khala’s Mining reward is only 10% of Phala’s, there are still more than 20,000 computing nodes successfully registered on Khala. Among them, more than 15,000 servers are running on Khala steadily for some time. These servers provide more than 120,000 vCPUs, which contribute large-scale computing services for the Web 3.0 world — such computing resource scale is second to none in the Crypto field! On Khala Network alone, we already have nearly 1% of the AWS computing power.
There is no doubt that it is a mature ecosystem with fruitful resources. Berlin, with natural geographical advantage, many blockchain companies come from different countries with different cultures but settle here too. Given its unique attractiveness by sparking the inspiration under the faith of creating a brand new world with blockchain technology, sharing the completed industry infrastructures, connecting all startups, its potential is unestimated. We believe that Phala can find mentors and friends her