PHA
PHA

Phala Network price

$0.095709
-$0.00650
(-6.37%)
Price change for the last 24 hours
USDUSD
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Phala Network market info

Market cap
Market cap is calculated by multiplying the circulating supply of a coin with its latest price.
Market cap = Circulating supply × Last price
Circulating supply
Total amount of a coin that is publicly available on the market.
Market cap ranking
A coin's ranking in terms of market cap value.
All-time high
Highest price a coin has reached in its trading history.
All-time low
Lowest price a coin has reached in its trading history.
Market cap
$75.68M
Circulating supply
787,488,159 PHA
78.74% of
1,000,000,000 PHA
Market cap ranking
--
Audits
CertiK
Last audit: Jul 17, 2021
24h high
$0.10361
24h low
$0.094609
All-time high
$1.4560
-93.43% (-$1.3603)
Last updated: Feb 25, 2021
All-time low
$0.070000
+36.72% (+$0.025709)
Last updated: Oct 13, 2022

Phala Network price performance in USD

The current price of Phala Network is $0.095709. Over the last 24 hours, Phala Network has decreased by -6.36%. It currently has a circulating supply of 787,488,159 PHA and a maximum supply of 1,000,000,000 PHA, giving it a fully diluted market cap of $75.68M. At present, the Phala Network coin holds the 0 position in market cap rankings. The Phala Network/USD price is updated in real-time.
Today
-$0.00650
-6.37%
7 days
-$0.02499
-20.71%
30 days
-$0.04049
-29.73%
3 months
-$0.24099
-71.58%

About Phala Network (PHA)

4.0/5
CyberScope
4.0
04/02/2025
The rating provided is an aggregated rating collected by OKX from the sources provided and is for informational purpose only. OKX does not guarantee the quality or accuracy of the ratings. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly, and can even become worthless. The price and performance of the digital assets are not guaranteed and may change without notice. Your digital assets are not covered by insurance against potential losses. Historical returns are not indicative of future returns. OKX does not guarantee any return, repayment of principal or interest. OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/ tax/ investment professional for questions about your specific circumstances.
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Phala Network (PHA) is an advanced blockchain technology that enables private computing and secure software development. Built on the Substrate framework, this cloud service offers flexibility in addressing the increasing need for data privacy in today's information economy.

What is Phala Network?

Phala Network merges blockchain's decentralization and security features with the privacy offered by secure computing environments. This unique combination empowers developers to confidently build and utilize applications that handle sensitive data. With a mission to preserve the freedom and confidentiality of the Internet, Phala Network strives to become the leading infrastructure for blockchain privacy.

Phala Network team

The Phala Network is led by a team of highly skilled and experienced blockchain developers and enthusiasts. Co-founder and CEO Marvin Tong, who previously served as the technical head of the blockchain laboratory at Tencent, brings invaluable expertise to the project. 

Hang Yin, another co-founder, and the chief scientist, leverages his experience as the chief blockchain scientist at Ethereum Classic Labs. The team also benefits from the contributions of Shunfan Zhou, a former project lead at DOTWallet, who adds to their wealth of knowledge and experience. 

How does Phala Network work?

Phala Network operates through a confidential smart contract called "pallets." These pallets are executed within a secure environment called the Trusted Execution Environment (TEE), which resides in a protected area of the central processor. The TEE ensures data is processed securely and in isolation, safeguarding it against external exposure or leaks.

Phala Network collaborates with the Polkadot Network to enhance its security and scalability. The network architecture comprises two key components: the Phala Blockchain and the runtime. The Phala Blockchain handles consensus and on-chain governance, while the runtime operates within the TEE, executing confidential contracts and facilitating secure data processing.

Phala Network native token — PHA

The native token of Phala Network is called PHA. Within the Phala ecosystem, the PHA token serves multiple utility functions. It acts as a medium of exchange in the Phala marketplace, rewarding miners for their contributions, and can be used as a staking currency.

The road ahead for Phala Network

The future of Phala Network holds great promise as the platform aims to improve the blockchain ecosystem significantly. With ambitious growth and service enhancement goals, Phala Network is set to achieve new milestones. Notably, the upcoming integration with Polkadot and the introduction of the decentralized data analysis tool Web3 Analytics will bolster Phala's scalability and effectiveness.

One of the critical focuses of Phala Network is to enhance its privacy infrastructure. This involves refining technologies like Trusted Execution Environment (TEE) and secure zones to provide even stronger privacy measures. Additionally, Phala Network is committed to developing user-friendly tools, documentation, and resources for developers, fostering ecosystem growth and making it easier for developers to build privacy-focused applications on the platform.

Interoperability is another crucial aspect of Phala Network, recognizing the importance of seamless integration with other blockchain networks and traditional systems. The network aims to establish bridges and integration points that enable data transfer and assets between different platforms, expanding its reach and utility.

Phala Network places great emphasis on community engagement and governance. The network actively encourages community participation by organizing events, forums, and initiatives. Moreover, token holders can actively participate in decision-making processes, shaping the future direction of Phala Network.

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Phala Network FAQ

What is Phala Network (PHA)? 

Phala Network (PHA) is a secure cloud computing service that offers a platform for developing personal computing applications.

How does Phala Network work? 

Phala Network utilizes confidential smart contracts through a Trusted Execution Environment (TEE). By employing this method, Phala Network ensures the preservation of data privacy and security while harnessing the advantages of blockchain technology.

Where to buy PHA? 

Easily buy PHA tokens on the OKX cryptocurrency platform. One available trading pairs in the OKX spot trading terminal is PHA/USDT.

You can also swap your existing cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC), for PHA with zero fees and no price slippage by using OKX Convert.

How much is 1 Phala Network worth today?
Currently, one Phala Network is worth $0.095709. For answers and insight into Phala Network's price action, you're in the right place. Explore the latest Phala Network charts and trade responsibly with OKX.
What is cryptocurrency?
Cryptocurrencies, such as Phala Network, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.
When was cryptocurrency invented?
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as Phala Network have been created as well.
Will the price of Phala Network go up today?
Check out our Phala Network price prediction page to forecast future prices and determine your price targets.

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ESG Disclosure

ESG (Environmental, Social, and Governance) regulations for crypto assets aim to address their environmental impact (e.g., energy-intensive mining), promote transparency, and ensure ethical governance practices to align the crypto industry with broader sustainability and societal goals. These regulations encourage compliance with standards that mitigate risks and foster trust in digital assets.
Asset details
Name
OKcoin Europe LTD
Relevant legal entity identifier
54930069NLWEIGLHXU42
Name of the crypto-asset
Phala
Consensus Mechanism
The Ethereum network uses a Proof-of-Stake Consensus Mechanism to validate new transactions on the blockchain. Core Components 1. Validators: Validators are responsible for proposing and validating new blocks. To become a validator, a user must deposit (stake) 32 ETH into a smart contract. This stake acts as collateral and can be slashed if the validator behaves dishonestly. 2. Beacon Chain: The Beacon Chain is the backbone of Ethereum 2.0. It coordinates the network of validators and manages the consensus protocol. It is responsible for creating new blocks, organizing validators into committees, and implementing the finality of blocks. Consensus Process 1. Block Proposal: Validators are chosen randomly to propose new blocks. This selection is based on a weighted random function (WRF), where the weight is determined by the amount of ETH staked. 2. Attestation: Validators not proposing a block participate in attestation. They attest to the validity of the proposed block by voting for it. Attestations are then aggregated to form a single proof of the block’s validity. 3. Committees: Validators are organized into committees to streamline the validation process. Each committee is responsible for validating blocks within a specific shard or the Beacon Chain itself. This ensures decentralization and security, as a smaller group of validators can quickly reach consensus. 4. Finality: Ethereum 2.0 uses a mechanism called Casper FFG (Friendly Finality Gadget) to achieve finality. Finality means that a block and its transactions are considered irreversible and confirmed. Validators vote on the finality of blocks, and once a supermajority is reached, the block is finalized. 5. Incentives and Penalties: Validators earn rewards for participating in the network, including proposing blocks and attesting to their validity. Conversely, validators can be penalized (slashed) for malicious behavior, such as double-signing or being offline for extended periods. This ensures honest participation and network security.
Incentive Mechanisms and Applicable Fees
Ethereum, particularly after transitioning to Ethereum 2.0 (Eth2), employs a Proof-of-Stake (PoS) consensus mechanism to secure its network. The incentives for validators and the fee structures play crucial roles in maintaining the security and efficiency of the blockchain. Incentive Mechanisms 1. Staking Rewards: Validator Rewards: Validators are essential to the PoS mechanism. They are responsible for proposing and validating new blocks. To participate, they must stake a minimum of 32 ETH. In return, they earn rewards for their contributions, which are paid out in ETH. These rewards are a combination of newly minted ETH and transaction fees from the blocks they validate. Reward Rate: The reward rate for validators is dynamic and depends on the total amount of ETH staked in the network. The more ETH staked, the lower the individual reward rate, and vice versa. This is designed to balance the network's security and the incentive to participate. 2. Transaction Fees: Base Fee: After the implementation of Ethereum Improvement Proposal (EIP) 1559, the transaction fee model changed to include a base fee that is burned (i.e., removed from circulation). This base fee adjusts dynamically based on network demand, aiming to stabilize transaction fees and reduce volatility. Priority Fee (Tip): Users can also include a priority fee (tip) to incentivize validators to include their transactions more quickly. This fee goes directly to the validators, providing them with an additional incentive to process transactions efficiently. 3. Penalties for Malicious Behavior: Slashing: Validators face penalties (slashing) if they engage in malicious behavior, such as double-signing or validating incorrect information. Slashing results in the loss of a portion of their staked ETH, discouraging bad actors and ensuring that validators act in the network's best interest. Inactivity Penalties: Validators also face penalties for prolonged inactivity. This ensures that validators remain active and engaged in maintaining the network's security and operation. Fees Applicable on the Ethereum Blockchain 1. Gas Fees: Calculation: Gas fees are calculated based on the computational complexity of transactions and smart contract executions. Each operation on the Ethereum Virtual Machine (EVM) has an associated gas cost. Dynamic Adjustment: The base fee introduced by EIP-1559 dynamically adjusts according to network congestion. When demand for block space is high, the base fee increases, and when demand is low, it decreases. 2. Smart Contract Fees: Deployment and Interaction: Deploying a smart contract on Ethereum involves paying gas fees proportional to the contract's complexity and size. Interacting with deployed smart contracts (e.g., executing functions, transferring tokens) also incurs gas fees. Optimizations: Developers are incentivized to optimize their smart contracts to minimize gas usage, making transactions more cost-effective for users. 3. Asset Transfer Fees: Token Transfers: Transferring ERC-20 or other token standards involves gas fees. These fees vary based on the token's contract implementation and the current network demand.
Beginning of the period to which the disclosure relates
2024-04-01
End of the period to which the disclosure relates
2025-04-01
Energy report
Energy consumption
300.53846 (kWh/a)
Energy consumption sources and methodologies
The energy consumption of this asset is aggregated across multiple components: To determine the energy consumption of a token, the energy consumption of the network(s) ethereum is calculated first. Based on the crypto asset's gas consumption per network, the share of the total consumption of the respective network that is assigned to this asset is defined. When calculating the energy consumption, we used - if available - the Functionally Fungible Group Digital Token Identifier (FFG DTI) to determine all implementations of the asset of question in scope and we update the mappings regulary, based on data of the Digital Token Identifier Foundation.
Disclaimer
The social content on this page ("Content"), including but not limited to tweets and statistics provided by LunarCrush, is sourced from third parties and provided "as is" for informational purposes only. OKX does not guarantee the quality or accuracy of the Content, and the Content does not represent the views of OKX. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly. The price and performance of the digital assets are not guaranteed and may change without notice. OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. For further details, please refer to our Terms of Use and Risk Warning. By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates (“OKX”) are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets. Product may not be available in all jurisdictions.