Phala Network (PHA) crypto asset is now listed on INDODAX on the ERC-20 network.

 

Interested in Phala Network (PHA)  and how to buy it? Learn more before investing by reading below!

 

About Phala Network (PHA) 

Phala Network is a decentralized cloud computing protocol that aims to rival traditional cloud computing services. Phala utilizes a global, decentralized network of computing resources from participant nodes to provide data storage and processing power services like typical cloud computing services. Phala aims to provide these services through a decentralized, global network of computing resources with the ability to scale for performance while also optimizing for confidentiality and security.

 

For more information, visit the official website of Phala Network (PHA) at https://phala.network/

 

Challenges, Opportunities, and Utilities

One of the main problems Phala Network tries to address is privacy and security of user data. By using Trusted Execution Environment, Phala strives to provide confidential and secure cloud computing services, where any computation run on the platform, whether it be machine learning data for enterprises or smart contract execution for DeFi apps, is private and versatile across use cases.

 

PHA differentiates itself from other protocols in a few different ways. 

 

• Scalable through a decentralized global network of computing resources. 
• Focuses on user privacy and data security with confidential computations. 
• Uses Trusted Execution Environments for private and secure computations. 
• Flexible use for machine learning, smart contracts, and other applications.
• Supports privacy and security in accordance with regulations.

 

Here are some of the utilities of the PHA token:

 

• Used as a payment method to transact and purchase services in Phala Network’s cloud-based economy. 
• Used by gatekeeper and miner nodes for staking as collateral when performing their duties. 
• Plays a role in Phala Network’s governance, where PHA holders can participate with voting rights to approve changes. 
• Acts as a medium of exchange within the Phala Network ecosystem. 
• The native and dedicated token to be used on the Phala Network platform.

 

Founder and Investor of Phala Network (PHA)

Phala Network was founded in 2018 by Phala Network Foundation and is led by former Google Software Engineer Hang Yin, former Tencent Product Manager Marvin Tong, among others.

With fundraising of $11,430,000.00, PHA is backed by investors and venture capitals such as IOSG Ventures, SNZ Holding, Waterdrip Capital.

 

Crypto Asset Ranking Information

As of July 8, 2024, the CoinMarketCap ranking of Phala Network (PHA)  is #365, with a market cap of USD 91,551,667. It has a circulating supply of 734,686,256 PHA and a maximum supply of 1,000,000,000 PHA.

 

How to Buy Phala Network (PHA)  on INDODAX 

Now that you’ve discovered more about Phala Network (PHA) , you can start investing in Phala Network (PHA)  easily and securely on INDODAX. 

You can access INDODAX via the INDODAX Mobile App, which can be downloaded from the App Store or Google Play Store, or by visiting the INDODAX website.

To buy Phala Network (PHA)  crypto asset on INDODAX, follow the steps below:

1. Register on INDODAX if you are not yet an INDODAX Member or login to your INDODAX account
2. Then, deposit by reading how to make a deposit below
3. After making a successful deposit and the balance has been credited to your INDODAX account, visit the INDODAX market
4. Search for PHA in the IDR market, and click to visit the crypto asset page
5. On the crypto asset page, enter the balance and desired PHA purchase price, or buy instantly at the current price
6. Next, you should wait for the price to increase for some time
7. Once the price increases, your assets can be sold at a higher price with the Instant method
8. If you use the Limit method to sell, make sure to place a sell order after purchasing the asset and enter a higher sell number

 

INDODAX also offers other features than trading, such as INDODAX Earn which allows you to lock crypto assets and earn interest rewards, and INDODAX OTC for large crypto transactions in a more personalized and secure way.

 

Let’s invest in Phala Network (PHA)  on INDODAX now!