Phala Network is building a platform that provides users with specialized infrastructure for trading computing resources and for data collection, analysis, and marketplace activities. The process works as follows: users who need specific computational tasks purchase the required computing resources (e.g., compute power and storage) through the Phala Network platform. Within the Trusted Execution Environment (TEE) provided by Phala Network, computing resource providers process users’ workloads while keeping the data private. Anyone can connect to the TEE to perform computing tasks, which enables the network to operate in a decentralized manner. Gatekeepers are nodes that run Phala Network’s blockchain and manage the keys required to execute smart contracts privately. They also verify the security of providers’ hardware and software, handle worker replacement and replication factoring, and organize and store related records. The PHA token is used to purchase various computing resources on Phala Network and to pay transaction fees for processing on-network transactions.

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