What is PHA crypto and Phala network, and why use them?

Have you ever wondered what PHA crypto is and why it has recently reached its peak popularity? Why does it seem like the entire crypto community has taken an interest in this specific cryptocurrency in particular?

First, all serious crypto investors are always looking for profitable and interesting cryptocurrencies worth investing in and owning in their valuable collections.

There are numerous reasons why the PHA crypto and Phala network are at the center of the crypto public lately. Given the great opportunities in the crypto market, it is not surprising that the interest of crypto enthusiasts is in valuable cryptocurrencies such as the PHA coin.

In order to understand all about the PHA crypto and the Phala network, let’s start with the basic definitions and explanations, shall we?

PHA crypto – definition and explanation

PHA crypto or PHA coin represents the native utility token of the famous Phala Network with a maximum supply of one billion PHA. Crypto enthusiasts mostly utilize it for its cloud-based economy. This token assists in securing the network and maintaining the Phala network’s governance mechanism.

It’s also used by miner nodes and gatekeepers who are responsible for staking their PHA tokens in order to perform their duties successfully. Staking is there to ensure that in case they act maliciously, their staked PHA crypto will undoubtedly be considered a serious penalty.

Those owning PHA tokens could become stakeholders, allowing them to participate in on-chain governance of the para chain. That means these individuals can vote on any changes to the famous Phala network.

What is paid in PHA crypto?

Anyone interested in buying computing services and resources is able to do so with PHA coin, whether it’s an individual searching to store data securely or an external blockchain that has to add resources. In turn, individuals who enable resources for securing the network are paid in PHA crypto.

What is the PHA crypto price prediction?

The current price of the PHA crypto is $ 0.188957. In 2025, the PHA crypto price prediction is around $ 0.3960. The PHA crypto price prediction in the next five years, i.e., until 2027, will be worth approximately $0.3938.

When it comes to Phala Network, by 2030, according to our forecasts, the Phala Network will reach $0.9900.

How to buy PHA crypto?

As someone interested in buying PHA crypto, we advise you to use a legitimate crypto exchange such as Kraken. Note that these exchanges are specialized marketplaces that allow you to purchase or sell cryptocurrencies that function as stock trading platforms.

Once you have created your account by filling in the info that is required, you are able to buy some PHA tokens. Keep in mind that the Phala blockchain refers to a privacy-focused project for smart contracts and data protection. So, let’s find out more about all that, shall we?

What is the Phala network exactly?

The Phala network refers to a specific decentralized, so-called “cloud computing protocol”. The main goal of this protocol is to become more successful than other services of cloud computing such as Google Cloud or Amazon AWS. For newbies in this industry, cloud computing means the maintenance of huge, web-based data repositories that enable computing resources for end users such as:

• Data storage
• Computing power.

This specific network is created to excess capacity from computers to be put to work while simultaneously developing a more distributed approach to cloud storage and computing.

The main goal of the Phala network

Undoubtedly, the Phala network’s goal is to enable users of all these services via a global, decentralized network of computing resources that can scale for performance and optimize security and confidentiality simultaneously.

To do so and make the network operate without any issues, the network is using two different types of participants:

• Miner nodes: They run a CPU network and do numerous computations by renting the power of their computer to the network.
• Gatekeeper nodes: These nodes are responsible for organizing all the interactions among Phala network users and their interactions with other blockchains. Gatekeepers exist to maintain the consensus rules and the blockchain state.

With Gatekeeper and Miner nodes in the Phala network, it helps separate computation and consensus responsibilities across the network.

Who created the Phala network?

The Phala Network Foundation founded the Phala network back in 2018. It was a project led by Hang Yin, a former Google Software Engineer, and Marvin Tong, the former Product Manager of Tencent. This project got the amazing three Web3 Foundation grants, among other things.

Since 2019, over two rounds of token sales that are private, this network foundation has managed to raise an incredible amount of $1.68 million. It was 15% of the primary token supply that’s been distributed to the investors.

PHA crypto token as Ethereum and Kusama token

The famous PHA crypto token was launched in the month September of 2020 as an Ethereum token. One year later, in 2021, it was launched as a Kusama token. Ethereum is undoubtedly one of the most ambitious cryptos to date, launched in 2014 with the aim to decentralize services and products in a wider array of use cases.

On the other hand, Kusama is a crypto asset intended for pre-production versions of the Polkadot blockchain. It enables developers increasing flexibility while they’re about to test and finalize new technologies.

Kusama developers can build and deploy some Polkadot blockchains while simultaneously testing how they could utilize the network’s functionality and governance.

In which way does the Phala network work?

Before understanding how the PHA crypto token has value, it’s essential to understand how the Phala network works. Primarily, it’s crucial to understand that Phala was created as a Polkadot para chain. It’s a custom blockchain included in the main Polkadot blockchain named “The Relay Chain.”

The Relay chain is crucial because it guarantees Polkadot’s transaction settlements, security, and consensus. Via integration with this chain, the Phala network benefits from the base features of Polkadot.

In addition to that, as a para chain, the Phala network will quickly connect to the other parachains created in Polkadot’s ecosystem. All those participating in the Phala network, meaning those who send requests to the network as the miner nodes and transactions, will conduct the computations needed in order to provide network integrity and transaction validity.

How is confidentiality provided?

In order to provide confidentiality successfully, the miner node’s CPU work is completed within a TEE, i.e., the Trusted Execution Environment, which is a secure enclave or the encrypted area within the majority of modern computer’s processors. These areas ensure that no one can tamper with or even see what’s stored inside their computers’ enclaves.

Phala gatekeeper nodes

It’s crucial to comprehend that the Phala gatekeeper nodes function as a broker responsible for creating the end-to-end encryption between CPU Miners and users. At the same time, the transaction remains 100% private.

The information becomes decrypted and executed when it is in the secured enclave. So, before being sent out of the enclave, these information requests are re-encrypted.

Computation runs on the platform.

According to the official Phala network, each of these computation runs on its platform is versatile and private in all use cases, whether a smart contract execution for famous DeFi apps or enterprise machine learning data.

Here is one great example of it: Phala network leveraged its technology to develop Web3 Analytics. It’s a platform that’s responsible for collecting and processing personal data in a secure and confidential manner. All confidential smart contracts are able to perform analyses of that data only once they get authorization from the users.

When done so, they’ll have unlimited control over their data. So, what else is crucial to know regarding the PHA crypto token?

Is PHA crypto a good investment or not?

As mentioned above, PHA crypto is Phala’s network native utility token that users use for the cloud-based economy of the network. According to our expert’s prediction, the general Phala Network price sentiment prediction is bullish. It includes 24 tech analysis indicators that are, without a doubt, signaling bullish signals, while three are signaling bearish signals.

If we observe the following 30 days, according to the Phala Network forecast by our experts, the price of Phala Network will undoubtedly increase by 31.50%. It means that by the following month of November 2022, the price will reach $0.248472. Thus, it makes the PHA crypto investment to be more than valuable and recommended.

According to the 50-day simple moving average, the Phala Network is currently $0.120053.

Key Notes

• PHA Crypto represents the native utility token of the Phala network. The total supply of this token is $1 billion.
• In order to buy the PHA crypto, you should visit and open your account at one of the legitimate crypto exchanges, such as Kraken.
• Phala network represents the specialized decentralized cloud computing protocol. The main goal of the Phala Network is to overcome the success of other cloud computing services.
• The network uses two work nodes: The gatekeeper node and the Miner node.
• In the following five years, the PHA crypto price prediction will be worth around $0.3938.
• By 2030, the Phala network’s price will reach around $0.9900.
• According to 50-SMA, the Phala network is currently $0.120053.