Less than 3 Days Left on First Proposal, Countdown to Mining Going Live | Phala Weekly Vol.50

Dev Updates

💯Completed

I. Mining

Refactor master key distribution mechanism PR
Fix an issue with reward dipping when miner approaches Vmax PR
Stability and code quality improvement

https://github.com/Phala-Network/phala-blockchain/pull/437
https://github.com/Phala-Network/phala-blockchain/pull/434
https://github.com/Phala-Network/phala-blockchain/pull/443

E2E now using pRPC PR
Other minor improvements PR

II. Khala

Token bridge: redesign relayer, solves compatibility problem encountered (on every chain upgrade) once and for all PR
Bridge fee into treasury PR

💻Work in progress

I. Mining Console

New features
Bug fixes and improvement

II. StakePad

Work in progress

Community & Ecosystem

Community Stats:

August 30, Khala officially deployed a democratic governance mechanism, a relatively mature mechanism inherited from Polkadot and Kusama. There are three parties: the public, the council, and the technical committee, which jointly govern the project, with the stated goal of ensure that the majority of stake can always command the network. Details
On the evening of September 1, Khala network opened the first batch of council elections to start the first stage of democratic governance. Five council members were elected; Details
On September 3, Khala launched the first on-chain governance proposal, which is currently still in the voting stage (for a period of 5 days). When the voting period ends, it will enter the implementation period (8 days for implementation and news dissemination). If the proposal passes, the Khala network will officially launch Secure Worker Mining and Token Staking functions.
The Khala roadmap was updated on September 4:

Activities & News

$PHA is listed on Binance Bridge as of Aug 30; users can swap between ERC20 and BEP20 PHA. The same day, Binance Liquid Swap opened a PHA/USDT liquidity pool. If you add liquidity to the PHA/USDT liquidity pool now you’ll get a share of 180,000 PHA in yield-farming rewards. Details
Phala Network (PHA) joined Alpaca Finance with a Grazing Range Pool on September 2nd. In this partnership, all young alpacas and Phamily can open leveraged yield farming positions up to 2.5x on PancakeSwap’s PHA-BUSD pair. As part of the Grazing Range program, Users are also able to stake ibALPACA to earn a share of $217K USD in PHA rewards which will be distributed over 4 weeks. Details
Sep. 2nd, Phala co-founder & lead developer Hang Yin attended Kusama Demo Day, an online event where he presented the Ethereum-Khala Bridge and a Phala Mining Staking Demo.
On September 4, Phala co-founder & lead developer Hang Yin was invited to the BeWater DevCon 2021 Global Developers Conference to start a roundtable discussion on Blockchain, Redefining the Value of Data. When it came to the “anti-consensus” views, Hang stressed that “Decentralization is not the goal, what Phala is doing is actually a technology called trustless computing.”

Upcoming:

9/8, Binance English community AMA
9/9, Binance Vietnam/ French community AMA
9/10, Binance Spanish community AMA

About Phala

Phala Network tackles the issue of trust in the computation cloud.

This blockchain is a trustless computation platform that enables massive cloud processing without sacrificing data confidentiality. Built around TEE-based privacy technology already embedded into modern processors, Phala Network’s distributed computing cloud is versatile and confidential. By separating the consensus mechanism from computation, Phala ensures processing power is highly scalable but not wasteful. Together, this creates the infrastructure for a powerful, secure, and scalable trustless computing cloud.

As a member parachain of the Polkadot cross-chain ecosystem, Phala will be able to provide computing power to other blockchain applications while protecting the data layer, enabling possibilities like privacy-protected DeFi trading positions and transaction history, co-computing DID confidential data, developing light-node cross-chain bridges, and more.

On-chain services currently being developed on Phala Network include Web3 Analytics: high-performance smart contracts from Phala to enable highly concurrent mass data analytics with privacy, paving the way for an alternative to Google Analytics that inherently respects individual confidentiality.