Daily Research Series - Today's Top Gainers
Current Circulating Market Value: $474 million #152
Project Background: Phala Network is a privacy computing infrastructure in the Polkadot ecosystem, dedicated to becoming a privacy protection tool in the Web 3.0 era. As people pay more attention to data privacy protection and the development of Web 3.0 applications, there is a need for reliable privacy computing technology to ensure the security and privacy of data. Phala Network was born to address the contradiction between the public and transparent nature of traditional blockchain and data privacy protection.
The token mechanism is quite common where holders can participate in governance and have voting rights. As a network security token, nodes need to stake PHA as collateral. If a node exhibits improper behavior, its staked tokens will be confiscated. The use cases are broad, serving as a medium for various settlements, for paying privacy computing service fees, cross-chain service fees, and other related costs.
Currently, this round of increase is part of the rotation in the Web 3.0 sector, with the top four gainers also belonging to the Web 3.0 sector or related fields.
