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Phala Monthly Newsletter: January 2024


Top News

Product Roadmap 2024

We unveiled our product roadmap for 2024, and there are numerous key highlights. One of the main focuses is redefining our positioning as a Modular Coprocessor of blockchains.

As a Coprocessor, we aim to address the following three areas:

  • Coprocessor for Smart Contracts
  • Coprocessor for DePIN
  • Coprocessor for AI

For more information, please visit our blog here and our interactive roadmap here.

Product Updates:

LIP-8 Proposal for Lens Protocol:

We submitted a Lens Improvement Proposal (LIP) inspired by Ethereum's EIPs to improve decentralized governance by bridging on-chain and off-chain data. It proposes an attestation-based oracle system using Phat Contract for integrating off-chain Momoka data with on-chain Open Actions, overcoming traditional oracle limitations.

This enables new functionalities for Lens Protocol, supports various Momoka publication use cases, and promotes scalability, deeper web3 integration, and innovation, advancing towards a unified web3 ecosystem.

Explore the early demo and specifications for insights into its transformative potential in this thread.

Ink! Dev Hub Mid-Term Report: Pioneering Wasm Smart Contract Development

We're excited to announce a significant milestone in ink! Smart Contract development, achieved through our collaboration with Aleph Zero, Astar Network, and Phala Network. This partnership has been instrumental in advancing Wasm smart contract technology within the Polkadot and Kusama ecosystems.

The mid-term ink! Dev Hub report is now available, showcasing our progress and the collaborative efforts behind these developments.

We encourage the community to explore the report and share their insights on the Polkadot Forum: ink! Dev Hub Report.

Growth Updates:

Unlocking dApp Power: The Graph & Phat Contract Workshop

Our dev-rel expert, Josh, collaborated with The Graph for an interactive workshop. Web3 developers can now index relevant data through The Graph using Phat Contracts, enhancing their on-chain dApps.

Phala's Presentation at Polkadot Blockchain Academy

At the Polkadot Blockchain Academy, our Lead Developer Shelven Zhou showcased Phala Network's role as a co-processor in DePIN, AI, and more. He also teased upcoming web3 social and DeFi Phat Contract applications, highlighting Phala's expanding impact in blockchain innovation.

Discussing DePIN's role in the Data Economy

We recently engaged in a stimulating discussion with Dmail, IoTeX, and Dfinity, focusing on the transformative potential of Hardware Decentralization and its role in driving a new era of the data economy through DePIN infrastructure.

The conversation, titled "In-depth Look at DePIN: Decentralized Hardware Meets New Data Economy," promises to usher in exciting developments in how we approach data and hardware in the decentralized world.

Phala's Highlights from Lens Protocol Community Call

At the Lens Protocol Community Call, we celebrated nearly a year of collaboration by sharing key updates and insights. Our VP of Growth Zoe highlighted our journey, starting with the LensAPI Oracle that introduced innovative blockchain data integration.

Josh presented four demos from our three-day hackathon, demonstrating the versatility of OpenActions in the Lens Protocol:

  1. Recipe Open Actions: A dynamic NFT platform for trading recipes, showcasing the culinary creativity within the blockchain space. View on GitHub
  1. Lens Smart Post Red Envelope: A digital token red envelope system, innovating the traditional gift-giving practice for the digital age. View on GitHub
  1. Proof-of-Shilling Gas Sponsor AA DApp: Encourages engagement by sponsoring gas fees, highlighting a novel approach to community interaction. View on GitHub
  1. Lens Smart Post with Automated Action Arguments UI: Elevates UI/UX by enabling standard frontend components in smart contracts, streamlining developer work. View on GitHub

These contributions underscore our commitment to fostering innovation and community engagement within the Lens ecosystem.

Strengthening Polkadot: Phala's Security Initiative with PAL and C4

Phala Network, in collaboration with Polkadot Assurance Legion (PAL) and Code4rena (C4), aims to boost Polkadot ecosystem security. An audit scheduled for March 1st, 2024, with a $60,500 prize pool, underscores our commitment to high security standards and efforts to protect the network, benefiting both developers and users.

Read more here.

$PHA Success

New Metrics Page: simplifying $PHA tokenomics

We've simplified navigating $PHA tokenomics! Access insights across Ethereum, Phala Network, and Khala Network. Our new metrics page now clearly displays $PHA's allocation and distribution. Check it out here.

DWF Invests In $PHA

The global digital asset market maker and multi-stage web3 investment firm DWF Labs has invested in Phala Network to power-boost Phat Contracts adoption in the wider Web3 world.

Through this collaboration, DWF Labs will provide market making services to improve trading executions for $PHA and better liquidity performances on global exchanges. Our team is convinced the new investment will benefit Phala ecosystem and our investors.

PhalaNetwork Secures Polkadot Slot

Phala Network clinched slot 58 in Polkadot's's slot auction, guaranteeing an additional 2 years of secured blockspace.


Pinkonomic Now Listed on Phala Network

Community Request Fulfilled 🔨 Pinkonomic is now listed on Phala Network, as seen here: We've made it to the top 5 parachains with XCM channel and AssetHub. This listing empowers our community to make informed decisions on utilizing our PINK points.

Pioneering Secure Blockchain Futures with TEE Technology

Phala Network, leveraging Trusted Execution Environment (TEE) technology, has consistently led in securing blockchain's future despite skepticism. Our dedication to establishing TEE standards and reshaping its narrative, in partnership with experts like Flashbots, is evident in our joint efforts to debunk TEE myths.

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Phala Network Drives Over 4 Million Monthly Transactions

Messari's latest report highlights that Polkadot parachains averaged 12 million transactions monthly in Q4 2023. Thanks to incentives for computing power, staking, and Phat Contract usage, Phala Network contributed over 4 million transactions each month!

About Phala

Phala Network is a decentralized cloud that offers secure and scalable computing for Web3.

With Phat Contracts, an innovative programming model enabling trustless off-chain computation, developers can create new Web3 use cases.

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