Phala aims to become the privacy-protection infrastructure for Web3.0, developed based on Substrate and leveraging the TEE blockchain architecture to enable confidential smart contracts. It can provide privacy computing services to the Polkadot ecosystem.
Phala is the privacy computing infrastructure for Polkadot. The Phala Network acts as a privacy computing parachain on Polkadot, utilizing a proof-of-work-like economic incentive model. This releases the untapped privacy computation power from countless CPUs into Polkadots parachains, thereby serving applications on Polkadot such as DeFi and data services. Applications built on Phala, like pLibra and Web3 Analytics, have already received grants from the Web3 Foundation.

The Khala Network will use K-PHA as its network token. K-PHA is the Kusama version of the PHA token and can be exchanged 1:1 with both ERC20-PHA and mainnet PHA tokens.