Phala (PHA) currently has a price of €0.12 and is up 2.84% over the last 24 hours. The cryptocurrency is ranked 479 with a market cap of €77.5M. Over the last 24 hours, it saw €5.8M of trading volume. The token has a circulating supply of 639.2M tokens out of a total supply of 1B tokens.
Phala (PHA) is a cryptocurrency token associated with the Phala Network, a decentralized privacy-preserving blockchain platform. The Phala Network aims to enable developers to build confidential smart contracts, applications, and services while ensuring secure data privacy. The platform leverages TEE (Trusted Execution Environment) technology to facilitate the execution of smart contracts while protecting sensitive data from tampering or unauthorized access. PHA is the native token of the Phala Network and serves as a utility token within the ecosystem for activities such as staking, transaction fees, and governance. The network aims to provide a scalable and secure infrastructure for the development of privacy-focused applications in various industries.
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