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πŸ€” What is Phala Network?

A Modular Coprocessor

Phala Network introduces a decentralized, trustless coprocessor computing framework pivotal for advancing web3 applications. A coprocessor, like Phat Contracts, empowers developers to build efficient, friendly, and secure, decentralized applications (dApps) with read, compute and proof functionalities bundled together as a service in a modular coprocessor tech stack.

What is a Coprocessor?

In the blockchain context, a coprocessor, exemplified by Smart Contracts, collaborates with blockchains to offload complex computations to an off-chain layer. This is achieved through the power of ZKPs and MPC with SGX, ensuring data validation with privacy. This strategic move enhances security, scalability, and reduces costs by separating data access and computation from blockchain consensus. The result? An overall boost in efficiency for blockchain networks.

Trustless Computation. Verifiable Results.

Phala Network is designed with multiple layers of security guarantees to provide fully verifiable computation. Anybody with the correct hardware can become a compute providing β€œWorker” for the network and earn rewards, and Phala has an array of mechanisms in place to ensure Workers always carry out computation faithfully and securely. Tokenomic incentives, hardware-based assurances, and cryptographic evidence of execution published and verified on the Phala blockchain enable Phat Contract to seamlessly extend blockchain-level security to the off-chain realm.

Coprocessors: Advancing Web3

The role of Phala Network as a blockchain coprocessor is pivotal in addressing the scalability and computational limitations of current blockchain ecosystems:

  1. Data Access and Processing into Any Chain: By allowing more sophisticated data analysis and processing, Phala Network enables the development of more complex and useful decentralized applications.
  2. Offloading Computation: Phala Network acts as a specialized processor that takes on complex computational tasks from the main blockchain. This offloading significantly improves the efficiency and scalability of the network.
  3. Generating Verifiable Results: The results of such off-chain data access, process and compute should be verifiable by ZKP or Trustless Environment. And they can be used for smart contracts on any chain.
  4. Maintaining Security and Decentralization: Phala Network achieves this enhanced functionality while still upholding the principles of decentralization and security intrinsic to blockchain technology, often using advanced cryptographic methods like zero-knowledge proofs, MPC and TEEs.

A Coprocessor to Supercharge Web3 dApps

Developers can use Phala Network by deploying Phat Contracts, a coprocessor that run on Phala Network’s off-chain Workers that can interface with Smart Contracts on any chain.

For developers with experience using Rust, ink!, JavaScript, or TypeScript, Build Your Own Coprocessor and develop a custom coprocessor for your targeted use cases.