Phala Network
PHA
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Phala Network price
₺1.507
-- (--)
TRY
Last updated on --.
About Phala Network
PHA (Phala Network) is a cryptocurrency that powers a privacy-focused cloud computing platform. It enables secure, decentralized data processing by using advanced hardware technology called Trusted Execution Environments (TEEs), which keep computations private while still being verifiable. PHA is used within the Phala ecosystem to pay for services like confidential smart contracts, AI model training, and secure data storage. Its key applications include protecting sensitive information in DeFi, healthcare, and AI—making it valuable for users who prioritize privacy. Recent partnerships with projects like ChainGPT highlight Phala's role in enabling trustless AI tools for developers. PHA offers a unique solution for keeping data secure in an increasingly transparent blockchain world.
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Phala Network’s recent prices
Past year
-65.41%
₺4.36
3 months
-10.44%
₺1.68
30 days
-5.60%
₺1.60
7 days
-2.00%
₺1.54
Phala Network performance
₺1.507
Phala Network price today
Phala Network price today is ₺1.507, marking a -7.98% over the past 24 hours. On OKX TR, today’s Phala Network trading volume reached 381,878,850, worth over ₺575.64M.
₺64.74
Phala Network all-time high
Phala Network achieved its all-time high price of ₺64.74 on Feb 25, 2021, (UTC+8). At today's price of ₺1.507, Phala Network price is now -97.68% lower than its historic high.
$0.0339
Phala Network in USD
The current Phala Network to USD conversion rate is $0.0339 per Phala Network.
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Learn more about Phala Network (PHA)
What's Phala Network?
Phala Network is a blockchain platform designed to provide secure and private cloud computing services. It addresses the need for data privacy by enabling confidential smart contracts, which protect sensitive information from unauthorized access. Phala Network's primary use cases include privacy-preserving applications and decentralized cloud computing, offering a secure environment for developers to build and deploy applications without compromising user data privacy.
How does Phala Network work?
Phala Network operates on a blockchain that utilizes a unique consensus mechanism called Nominated Proof of Stake (NPoS). It combines blockchain technology with Trusted Execution Environments (TEEs) to ensure data privacy and security. TEEs are hardware-based secure areas that execute code in a protected environment, preventing unauthorized access. This approach allows Phala Network to offer confidential smart contracts, ensuring that sensitive data remains private while still enabling decentralized applications.
What's the total supply of Phala Network?
Phala Network has a total supply of 1 billion PHA tokens. The circulating supply is subject to change as tokens are distributed and utilized within the network. The tokenomics of Phala Network include mechanisms for inflation, as new tokens are minted to reward network participants. There are no current mechanisms for token burning, focusing instead on incentivizing network growth and participation.
What determines Phala Network's price?
The price of Phala Network is influenced by several factors, including its utility in providing privacy-focused cloud computing services and the demand for such services. Network usage, market sentiment, and the broader regulatory environment also play roles in price fluctuations. Additionally, competition from other privacy-focused blockchain platforms can impact its market position. These factors collectively determine the token's market value without any speculative elements.
Pros and cons of Phala Network
- Pros:
- Provides privacy-preserving cloud computing services
- Utilizes secure Trusted Execution Environments
- Supports confidential smart contracts
- Cons:
- Competition from other privacy-focused platforms
- Regulatory challenges in certain jurisdictions
- Complexity in understanding and implementing TEEs
How do I store my Phala Network?
Users can acquire Phala Network tokens through exchanges like OKX, where they can trade PHA. Tokens can be stored in compatible wallets that support ERC-20 tokens, ensuring private key security. Phala Network is used for deploying privacy-focused applications and participating in network governance. Users should be cautious of phishing attempts and ensure they use secure storage solutions. Availability of Phala Network may vary by jurisdiction, so users should verify local regulations before engaging with the platform.
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View Phala Network’s price history
Track your Phala Network’s price history to monitor your holdings’ performance over time. You can easily view the open and close values, highs, lows, and trading volume using the table below.
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Phala Network FAQ
Phala Network can offer strong returns, but is also subject to market volatility. Whether it’s a good investment depends on your risk tolerance, goals, and market conditions. Phala Network’s price can be influenced by various factors such as adoption, regulation, technological advancement, and overall market sentiment. Always do your own research before buying Phala Network and never buy more than you can afford to lose. This content is for informational purposes only and isn’t financial advice.
To buy Phala Network at a low price, monitor the market closely and use tools like price alerts and technical indicators to keep you updated on price trends. Always do your own research and use secure platforms. This content is for informational purposes only and isn’t financial advice.
Depending on where you’re located, you can use bank transfer, credit/debit card, or Peer-to-Peer. Read our guide on how to use these different payment methods to buy Phala Network PHA safely on a trusted exchange like OKX TR.
Currently, one Phala Network is worth ₺1.507. 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 TR.
To read this Phala Network price chart, hover over or click on the time period you want to view. Hover over the chart to view the corresponding price, displayed in your local currency.
Yes, Phala Network’s price is updated in real-time on our Phala Network price page. You can view the current price and historical price data here at all times.
Countries and regions differ on how digital assets transactions and holdings are taxed and how they view digital assets in general (money, property, commodity). In general, it is expected that you will pay capital gains tax when selling or swapping Phala Network PHA. Refer here for a more detailed guide.
Staking and earning rewards with Phala Network are subject to local restrictions. Log in or sign up to view products available in your country, region, or state of residence.
Phala Network (PHA) is a secure cloud computing service that offers a platform for developing personal computing applications.
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.
Easily buy PHA tokens on the OKX TR cryptocurrency platform. One available trading pairs in the OKX TR 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 TR Convert.
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OKX TR 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 TR and its affiliates (“OKX TR”) are not in any way associated with the owner or operator of the TPW. You agree that OKX TR 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.
Market cap
₺1.26B #203
Circulating supply
832.77M / 1B
All-time high
₺64.74
24h volume
₺575.64M
Rating
0.0 / 5
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