Phala Network is a Web3.0 computing cloud that supports data privacy while being trustless. Current blockchains provide a trustless way to store transactions, and execute smart contracts, however all these data are made available to the public, making it unsuitable for managing confidential data on blockchains. Phala solves this problem through its Trusted Execution Environment (TEE). There are three main entities in Phala; Client, Worker and Gatekeeper. Both worker and gatekeeper operate on TEE, but the workers serves as the computation nodes for confidential smart contract while gatekeeper serves as the authorities and the key managers. 

PHA is the native utility token of the Phala Network. It has five utilities; confidential computing resource, native token for confidential contracts, security guarantee, governance and other payments. PHA lives on its own network with no known total supply. 

Hang Yin.

IOSG Ventures.