Cloud computing is the complex IT infrastructure behind any large business. It’s the operation that allows scalability, as well as flexibility. Leading cloud computing services of the likes of Google Cloud or Amazon AWS dominate the market as of right now, but Phala Network is here to rival them and create waves in the Blockchain world. Distinct characteristics of Phala Network’s privacy-preserving and tamper-proof cloud services separate it from the rest.
WHY IS THIS TECHNOLOGY IMPORTANT
A platform such as Instagram or Facebook takes your sensitive data and shares them with a company like google. While daily active user data is necessary, the actual contents of user information are also included in this, with most people opposed to it and believing their data should remain private. “A full 86% of the respondents said they feel a growing concern about data privacy“
It now leaves personal, sensitive information and data exposed and in the hands of unknown 3rd parties. Phala changes this. Instead, a Google developer will write a request in decodes on the Phala Network and send the request to Facebook. The Facebook developers receive the request and begin to run the codes locally in the FB nodes. Only the results are sent back to google, all activity, sensitive information, and personal data are safely secured.
HOW DOES PHALA NETWORK OPERATE
Ran as a parachain on the Polkadot ecosystem, Phala Network’s developers deploy confidential smart contracts working operating inside a secured enclave called a ‘Trusted Environment Execution’ (TEE) enveloped in the CPU. To even perform data analytics on personal data, the smart contract must receive authorization from the data owner before it can access the information. All confidential data is run inside this isolated and private environment, forming an impenetrable zone that not even the most advanced mining computer could access.
Phala aims to provide its services globally in a decentralized manner while offering the best scalability paired with the highest standard of security and confidentiality. The means of this is through two native nodes:
• Phala’s Gatekeeper nodes act as the interactivity between network users along with outside blockchains, essentially a user /blockchain broker. They also maintain the blockchain consensus rules and block directions/organization.
• The Miner nodes are responsible for the fulfillment of computation responsibilities through their computer power.
To access Phala Network’s computing resources, data storage, or services, you must use its native token PHA which has 272 million tokens in circulation and a one billion max supply. Aside from huge infrastructure upgrades, Phala Network is also set to launch its own 3D NFTs in Q2 this year, along with a Phala world game / metaverse in Q4.
