Phala Network Expands Strategic Partnership with Plasm Network
We are thrilled to announce: Phala Network has expanded our partnership with Plasm Network, with missions to develop a functionally powerful toolkit for smart contract developers. With inborn interoperatability powered by Polkadot XCMP protocol, any DeFi/DApp developer will be able to construct Web3.0 products featured by privacy-preserving functionality based on Plasm smart contract and Phala confidential smart contract. Also, Plasm and Phala will jointly work on more user-friendly SDKs and user cases to better present the unmatched “interoperatability of Polkadot parachains”.
About Plasm
Plasm Network is a scalable smart contract platform supporting cutting edge layer2 solutions. To keep the cross-chain operations light and scalable, Polkadot Relaychain does not support smart contracts by design, so all application builders have to choose at least one Parachain which can support smart contracts.
About Phala
Phala Network is a Substrate-based interoperable cross-chain confidential smart contract platform, aiming to solve the privacy dilemma on blockchains for all users and companies through a decentralized and incentivized TEE confidential network. Empowered by the computing powers of TEEs, Phala Network will be a parachain on Polkadot and serve DeFi and data service companies with next-generation privacy protection technology.
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