Khala Network Has Won The 4th Parachain Slot On KusamaNetwork

Published on: 14.07.2021

Khala Network has Won the 4th Parachain Slot on KusamaNetwork with 132,280 $KSM bid.

Khala will connect to Kusama as a parachain and network tests will be started. After a period of smooth block generation, the referendum for the new economic model and the TEE mining test will be started. TEEs will be evaluated based on the voting results and test results. All of this will be done on-chain

In addition to the Khala Crowdloan Dapp, third-party organizations with custodial KSM that are following this auction have also opened voting channels for Khala. Per public data, there are more than 17,000 KSM from MEXC, Kraken, OKEx, KuCoin, Nutbox, and Gate.

About Phala Network

Phala Network tackles the issue of trust in the computation cloud.

This blockchain is a trustless computation platform that enables massive cloud processing without sacrificing data confidentiality. Built around TEE-based privacy technology already embedded into modern processors, Phala Network’s distributed computing cloud is versatile and confidential. By separating the consensus mechanism from computation, Phala ensures processing power is highly scalable but not wasteful. Together, this creates the infrastructure for a powerful, secure, and scalable trustless computing cloud.

As a member parachain of the Polkadot cross-chain ecosystem, Phala will be able to provide computing power to other blockchain applications while protecting the data layer, enabling possibilities like privacy-protected DeFi trading positions and transaction history, co-computing DID confidential data, developing light-node cross-chain bridges, and more.

On-chain services currently being developed on Phala Network include Web3 Analytics: high-performance smart contracts from Phala to enable highly concurrent mass data analytics with privacy, paving the way for an alternative to Google Analytics that inherently respects individual confidentiality.