Phala Network PHA – Best Polkadot Altcoins 2024 – Phala News & PHA Price Prediction

Phala Network PHA – Best Polkadot Altcoins 2024 – Phala News & PHA Price Prediction

Phala Network, one of the top AI projects built on Polkadot!
A new breed of crypto projects is emerging that allows users to earn passive income by contributing physical resources. These projects, known as Decentralized Physical Infrastructure Networks (DePINs), leverage real-world devices to generate and transmit data, creating lucrative opportunities for participants.

The DePIN sector has a strong flywheel effect, with the potential for significant growth as it gains traction. By contributing hardware or software resources, users can earn tokens, making the barrier to entry relatively low.

And one of those projects is Phala Network (PHA), a coprocessor for blockchains, allowing developers to deploy “Phat Contracts” – off-chain programs that enhance decentralized applications (dApps) with connectivity, internet access, and heavy computation. Users with SGX-capable CPUs, stable networks, and sufficient RAM and storage can become computing power providers and earn PHA tokens.

As a member parachain of the Polkadot cross-chain ecosystem, Phala is 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.

Phala Network is one of the strongest projects in the Polkadot ecosystem.

Phala is the leader of the ‘Total Signed Extrinsic in 7 Days’ and also this parachain was leading the pack in transaction volume and activity in March with 4.3 Million Transactions.

Phala Network also in TOP AI-RELATED PROJECTS ON POLKADOT

LATEST Phala NEWS

In April the Phala team announced a pivotal advancement in their platform: the shift from the Phat Contract to the AI-Agent Contract. This change signifies a strategic pivot towards fully integrating AI into the Web3 ecosystem. Through the introduction of the AI-Agent Contract, they are paving the way for the development, ownership, and monetization of AI agents in a decentralized setting.

Just recently Phala introduced the first application of its innovative AI-Agent Contract in a proof-of-concept game they’ve developed called “Agent Wars”.

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