Why do we need
The backbone of the Phala network is a highly scalable distributed network of worker nodes powered by TEE-capable CPU's, working to ensure the secure, reliable operation of confidential Smart Contracts.
70% of the initial supply (i.e. 700M) is reserved for mining.
At beginning, it has a fixed amount of daily supply, 720,000 PHA. Among them 144,000 PHA goes into the treasury, and all the rest is divided proportionally to the miners.
Phala has two kinds of reward for miners: online rewards and computation rewards.
For more details, such as the halving rule and the algorithm, please refer to the Miner Guide.
Hardware: Computer with Intel SGX enabled CPU
Software: SGX-enabled Linux (REC. Ubuntu 18.04)
Public IP for solo mining, or join a Phala-enabled mining pool otherwise
In Phala's token economics model, worker nodes have to mine with some PHA staked. To lower miners' entrance barrier, Phala implements a risk-free lending protocol similar to Polkadot's NPoS. PHA holders can lend their token to worker operators at an interest rate agreed by both parties, leading to the creation of an interest rates market.