As some of you may know, the team has a big interest in cryptocurrency. Crypto is an entirely new market with projects and ideas the world has never seen. They are revolutionizing the financial and legal systems as we know it. Which is why we think it is important to diversify your investments and have some crypto assets. Our new coin is “Phala Network.” ($PHA).
Before I tell you what Phalas goals are, I must explain what Polkadot and smart contracts are. Think of Polkadot as a blockchain for different blockchains. It is an ecosystem which has projects being created on it, similar to the way Ethereum works. The blockchain is a public network in which transactions are made. Everyone is able to see transactions that anyone makes. But is does so securely.
Smart Contracts, are an agreement between two parties that will be carried out when certain conditions are met run on the blockchain. Essentially, any legal document, monthly payments, brand deals, policies, etc. can be made in the form of a smart contract. Why would someone want this? When a smart contract is made, it guarantees that transactions will occur based on if conditions are met. For example, say a landlord and a tenant agreed on a $1,500 monthly rent payment. Under a normal contract the tenant can always just not pay the monthly rent. Then the two parties go to court, get in a fight, thus just making the situation difficult to deal with. BUT, if the 2 parties agreed on a a smart contract based on the blockchain. The landlord and tenant would connect their online wallets; once the pay date rolls around, funds are automatically transferred like they should. NO HASSLE WITH A 100% GUARANTEE.
Now we can talk about Phala and its revolutionizing goal. The problem with smart contracts is anyone around the world can see your transaction history. They can see balances, payments and other sensitive information. Although it is 100% secure through cryptic code so no one can hack it. It is still something that SHOULD be kept private. Phala is a network where you can make smart contracts on the blockchain without letting other people see your sensitive information. The public can still see the transaction was carried out, but Phala will hide the details while still making a secure network. It is a no brainer to use in my opinion as trusted confidentiality is something everyone wants. In the words of Phalas creators, “Smart contract is 90% less useful without composability. Phala is the only confidential contract protocol that keeps interoperability and composability.” By acquiring Phalas coin you are investing in their project and projected growth.
The Phala project is still very new, and not so popular yet. But I believe in due time it will grow. Crypto is more volatile and riskier than the stock market so maybe don’t put a large percentage of your portfolio into Phala. But right now a coin is 70 cents!! Elites all over like Elon musk are saying the blockchain and smart contracts will revolutionize the world. Why not take a chance and see. If you have any questions on how to acquire Phala coins DM me @tj.brescia because it can be confusing. I will be happy to help. Also DM me if you have anymore questions, I know crypto can be hard to understand at first.
Check out Phalas Website: https://phala.network/