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TürkçePHALA Information
Phala Network aims to revolutionize cloud computing by leveraging blockchain technology to ensure data privacy and security. By utilizing a unique combination of trusted execution environments and a decentralized network, Phala enables developers to create privacy-preserving applications with ease. This innovative approach positions Phala as a key player in the growing demand for secure and confidential digital solutions.
Introduction to PHALA: A Unique Player in the Crypto Space
Phala Network is a privacy-focused blockchain project designed to enable secure and confidential computation on the web. Utilizing a model that combines public and private blockchain technologies, Phala allows decentralized applications (DApps) to execute and protect sensitive data without compromising user privacy. The native token of the Phala Network, PHA, plays a fundamental role in this ecosystem.
Historical Performance: From Launch to Present
Since its inception, PHA has experienced significant volatility. The all-time high (ATH) was reached on May 15, 2021, when the coin was priced at $1.39. However, this remarkable peak was followed by a prolonged bearish trend, and as of October 2023, the coin is trading around $0.11, reflecting a decrease of approximately 92% from its ATH. Conversely, the all-time low (ATL) was observed on September 12, 2020, at $0.064594, demonstrating a remarkable recovery of 73.67% since then.
Advantages of PHALA
1. Privacy and Security: Phala's primary appeal lies in its emphasis on privacy. With an architecture that allows for confidential smart contracts, it stands out from many other blockchains that prioritize transparency over privacy.
2. Interoperability: Phala is built on the Substrate framework, making it compatible with the Polkadot ecosystem. This integration allows for interactions with other blockchains, enhancing its utility and potential user base.
3. Use Cases: The Phala Network enables various applications that require data privacy, such as decentralized finance (DeFi) applications and information-sensitive DApps. This broadens the scope for real-world applications, potentially attracting more developers and businesses to the platform.
Challenges and Risks Associated with PHALA
1. Market Competition: The crypto landscape is increasingly saturated with privacy-focused projects. Phala must continuously innovate to differentiate itself from competitors like Monero and Zcash.
2. Market Volatility: As with many cryptocurrencies, PHA is subject to market fluctuations, which can lead to significant losses for investors. The coin's history of extreme price volatility can deter potential investors looking for stability.
3. Adoption and User Engagement: For projects like Phala, gaining traction and user adoption is vital. The success of its DApps and privacy solutions relies heavily on developers embracing the platform. Continued efforts to foster a robust community and enhance user experience are essential.
Future Outlook: What Lies Ahead for PHALA?
The future for Phala Network appears promising, driven by its strong technological foundation and the growing demand for privacy solutions in the blockchain space. As privacy concerns continue to escalate globally, Phala’s unique offerings position it well to capture a niche market. If the development team successfully addresses scalability issues and fosters partnerships within the crypto ecosystem, there's potential for significant growth in the coming years.
Moreover, with continuous updates and developments as detailed in their whitepaper, and a strong community presence as palpable in their community forum, Phala Network is equipped to adapt to the ever-evolving crypto landscape.
Conclusion
Phala Network, with its focus on privacy and secure computing, offers intriguing possibilities within the blockchain realm. While it faces challenges typical of emerging tech, it holds potential for growth as market demands shift towards privacy-centric solutions. As always, investors should perform due diligence and consider the risks inherent in cryptocurrency investments.
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from price
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General Information |
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Title
PHALA
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Symbol
pha
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Whitepaper
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Website
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Community
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Last Updated
2025-01-21 23:51
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Price Data |
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Current Price $
0.252559
$
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High 24h
0.261543
$
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Low 24h
0.234491
$
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Price Change 24h
0.00154838
$
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Price Change % 24h
0.61686
%
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Market Data |
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Market Cap
196046277
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Total Volume
54737202
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Market Cap Change 24h
-536999.78276074
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Market Cap Change % 24h
-0.27317
%
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Return on Investment (ROI)
-
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Supply and Availability |
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Circulating Supply
775776820.82973
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Total Supply
1000000000
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Max Supply
1000000000
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Historical Data |
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All Time High (ATH)
1.39
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ATH Change %
-81.82199
%
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ATH Date
2021-05-15 04:20
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All Time Low (ATL)
0.064594
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ATL Change %
291.35998
%
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ATL Date
2020-09-12 12:15
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