Phala Network
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Phala Network

Less than 6 Days Left to Secure Worker Mining | Phala Weekly Vol.51

Proposal

Khala’s first referendum Voting Period ended on September 8, and officially entered the Enactment Period (8 days). At time of writing, less than 6 days remain in the Enactment Period. After the referendum is passed, Khala will officially launch Secure Worker Mining.

https://polkadot.js.org/apps/?rpc=wss%3A%2F%2Fkhala-api.phala.network%2Fws#/democracy/dispatch

Dev Updates

💯Completed

  1. Khala
  • Redesign confidential smart contract query interface
  • Introduced certificate chain support

https://github.com/Phala-Network/phala-blockchain/pull/455

  • Fix an issue on pRuntime syncing RelayChain data

https://github.com/Phala-Network/phala-blockchain/pull/457

  • Initial implementation of worker privacy-protecting Geolocation report confidential smart contract. Thanks to community contributor @Soptq

https://github.com/Phala-Network/phala-blockchain/pull/445

  • Finish design side Inputs for Oracle and long-running job support

https://github.com/Phala-Network/phala-blockchain/issues/450

  • Para-2 mining testnet online

2. Console

  • New feature: proxy support allowing separation of miner owner and miner operator
  • Bug fixes and stability improvements

💻Work in progress

1.Khala

  • Side Task (Side Inputs) programming mode
  • Integrating XCM and XCMP
  • Designing cross-chain confidential assets protocol
  • Integrating ChainBridge with 3rd assets

2. Confidential smart contract client SDK

Community & Ecosystem

  • Community Stats
  • Sep 8, Para-2 testnet is now live! We’ve fixed most problems from Para-1 and we’re (theoretically) more stable. On the Para-2 testnet, you can experience every facet of secure worker mining, simulating the real mining environment. In the Console, you can even set staking parameters and check profits.
  • Phala summited a proposal for XCM transfer & listing on Karura Network on September 10, asking to list Khala Network native token $PHA on Karura, and list a PHA/kUSD pair on Karura Swap. This proposal also includes some future plans based on top of the first move.
https://acala.discourse.group/t/enable-pha-list-pha-kusd-pair/271/2

Activities & News

  • On September 7th, Kaco Finance Farm launched the PHA-DOT. Users can earn $KAC by adding liquidity; the current APY is over 690%.
https://www.kaco.finance/farms
  • On September 8, Phala Network was invited to attend the Fly Underwater-Web 3 DeFi Privacy Forum, organized by Manta Network. Together with 13 project parties/organizations including W3F, Polychain, Acala, etc., we discussed the impact of privacy on the future of DeFi.
  • From September 9th to September 10th, Phala conducted 3 online AMAs in Binance’s English, Spanish and Vietnamese communities, introducing Binance users to Phala’s recent democratic governance, Secure Worker Mining, and other recent updates.
  • In the early morning of September 10, Beijing time, the 2021 Polkadot Encode Hackathon officially opened. As a partner of this event, Phala will work with Acala, Astar, Interlay, Moonbeam, and subQuery to release tasks and provide event rewards to developers.
  • September 10, Phala co-founder Marvin was invited to participate in a conference organized by Centrifuge, Odaily, and PolkaWorld: Interstellar Cruise — Explore the New Paradigm of Polka DeFi with Centrifuge, and Altair Parachain Auction Conference. In the roundtable session, Marvin stressed that Phala’s main focus this year is to provide sophisticated services to everyone, including solving problems such as asset shortages, inconsistent versions, and insufficient bridges. At the same time, Phala will try to do some complex cross-chain message transfers. Phala hopes to prove the superiority of Polkadot’s cross-chain transfers and the superiority of the parachain mechanism. Following on from this, Phala plans to put out various rewards, building communities and team resources to help each parachain expand its DeFi ecosystem, jointly helping Polkadot find and feature advantages and improve on shortcomings.

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.

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Phala Network is a privacy-preserving cloud computing service, based on Substrate, and will run as a parachain in the Polkadot ecosystem to offer computing power comparable to existing cloud services but which protects the privacy of managed programs.

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