Phala Network price today, PHA live price chart, marketcap and news

What Is Phala Network (PHA)?

Phala Network is the Execution Layer for Web3 AI. By enabling AI to understand and interact with blockchains, it unlocks the barrier for the first billion users to join Web3.

Phala Network's multi-proof system is the answer to the AI execution problem. On top of the Phala Network, you can easily build tamper-proof and unstoppable AI Agents that are closely integrated with on-chain smart contracts by AI-Agent Contract

Agentize smart contracts: Create AI Agents for smart contracts using natural and programming languages.
Connect to the internet of multi-agents: Make your agents accessible by other cross-chain AI Agents.
Launch AI Agents and get incentivized: Own your agents and build a profitable token economy.

PHALA is the AI Execution Layer

With the advancements of autonomous AI Agents, a new paradigm had started to form, and thought leaders in Blockchain started to realize the potential synergies that AI x Blockchain can offer. For example, Vitalik's blog post about AI x Blockchain sparked a new realization. AI Agents can serve as an intelligent interface to Blockchain, and help AI understand the blockchain world while ensuring their behavior (i.e. signed messages and transactions) matches their intentions and avoid being tricked or scammed.

https://vitalik.eth.limo/images/cryptoai/ueth.png

In this intersection of AI x Blockchain, AI Agents are missing some key elements that Blockchain could solve given the right architecture. Phala's Blockchain-TEE hybrid system has the answer to make AI Agents act like Smart Contracts by providing the following features for AI Agents:

Hosted on decentralized platform to ensure service availability.
Governed by smart contracts. This involves prompt management and access control.
Free to call each other to form complex applications, while the callers need to cover the cost during callee execution.
The secrecy of prompts are protected by TEE.
Highly user interactive with low latency requirements and require no gas fee.

All of these leads to a system that allow AI Agents to run in TEE workers, but are fully controlled by on-chain smart contracts. This is what Phala is good at.

How is the PHALA Network Secured?

Why build AI Agents on Phala Network?

As an AI execution layer Phala Network has various advantages for those keen on building Web3 services with AI

Agentize Smart Contracts: Create smart contract centric AI Agents for popular web3 services and smart contracts.
Decentralized and Private by Default: Powered by the largest TEE network, fully transparent & privacy preserving.
Incentivized: Get funded and profit on Agent Wars with innovative ideas.
Powerful: Code in fully customizable Javascript & WASM runtime.
Rich Integration: OpenAI, LangChain, io.net, etc.

How Many PHA Coins Are There in Circulation?

There is a maximum supply of 1 billion PHA. As of May 29th, 2024, the circulating supply of PHA tokens is 724,199,827 PHA. Please note that the circulating supply is dynamic. For the most up-to-date information on the circulating supply, please visit the API here.

Who Are the Founders of Phala Network?

Marvin Tong: CEO of HashForest Technologies. Senior Product Manager. Ex Tencent and Didi. 【X】【LinkedIn】
Hang Yin: CTO of HashForest Technologies. Founder and Lead Developer of Bitcoin Gold. Senior Developer at Google. 10 years of coding experience. 【X】【LinkedIn】【Github】

Where Can I Buy Phala (PHA)?

As one of the most potential Polkadot and EVM ecosystem projects in terms of coprocessor, PHA is available on some top-ranked exchanges below

For the full list, please visit here.

PHA resources

Phala Network’s AI ecosystem

Phala Network is at the forefront of the Web3 and AI intersection, creating an ecosystem that leverages advanced AI and decentralized technology. Our comprehensive approach includes the AI Agent Contract, Agent Wars, and Redpill, each serving a distinct purpose within our network:

AI Agent Contract: This contract allows web3 developers to build decentralized AI applications. By providing a framework for creating autonomous AI agents, it empowers developers to innovate without centralized constraints.
Agent Wars: This proof-of-concept game fosters a multi-agent ecosystem where users can create, interact with, and monetize their AI agents. Agent Wars demonstrates how social presence can be monetized in a fun and interactive way.
Redpill: Redpill is an AI aggregator that optimizes the use of multiple AI models, including those from OpenAI and Claude. It utilizes Phala’s AI Agent Contract to ensure requests are autonomous and unstoppable. Redpill is designed to increase network usage and computation power, benefiting the Phala ecosystem significantly.

PHA is the native utility token that is used for:

Trusted Computing Resources: Phala Networks empowers users with $PHA to access TEE computation resources. Seamlessly deploy Phat Contracts, supporting smart contracts as self-host oracles on various EVM blockchains.
Security Guarantee: Gatekeepers must stake a certain amount of PHA tokens, which may be slashed for misbehavior.
Governance: Stakeholders who own a certain amount of PHA are able to join the Phala DAO to participate in community governance.