We are pleased to announce our next AMA on March 31st 2021 at 02:00 PM UTC Time: Satoshi Club x Phala Network
⚠️Click to see the hour
⚠️Total Reward pool: $500
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Phala Network Telegram group
We will have the following structure:
Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions. 6 Questions will be selected from our website – please submit your questions in the comments section of this post.
Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. Phala Network Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about Phala Network
For more details:
Phala Network – @phalanetwork
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
Remote authentication ensures reliable execution of smart contracts, while data can be used in secret. Ubinix-warun has created an encrypted ledger for transaction logs. The ledger records when and where the transfer occurred. What data is recorded in this book? I would like to know if it is managed in a decentralized or centralized way? What is the hidden technique to keep a secret on a public blockchain?
Phala exposes the following: “If someone wants to obtain the passwords, they will have to break Phala’s TEE network, which would mean simultaneously attacking the TEE mining nodes and the gatekeeper nodes scattered all over the world, all at once. This is virtually impossible “. Technology is renewed by leaps and bounds on a daily basis. Do not trust it. Have you studied the possibility of making adjustments to your technology to accommodate improvements in future security? Do you carry out security tests?
They have recently established an alliance with Bitcoin Gold to develop lightweight cross-chain bridges to the Polkadot ecosystem for BTG and other Bitcoin-based chains. This will provide a path to liquidity of the $ 36 billion market value of this coin family in the Polkadot ecosystem for use in smart contracts, DeFi, DEXes, and more. Will only TEE-based technology be applied or will they mention your other products? Until now, how many bridges have you created, because what has to be covered with Bitcoin Gold is a great commitment?
I see that Phala already developed a new lending protocol name with ‘Worker-Nodes’ for borrowing requred PHA on stake. Have you already test and success implement it? Can you share with us the result?
I check your site, twitter and telegram got little shock because you have so much partnership from big project like DEGO, Bondly Finance, Plasm Network, Zenlink and Reef Finance. Mostly already do ama in Satoshi Club and they are great project. May i know what is your first priority while looking for a partner? Can you share with us the great progress that Phala already reach from all of this partnership?
Fortunately, with Phala Network, you can create a cloud-based laptop that will never have privacy disclosure issues. What kind of information can I upload to the cloud? If a Trojan arrives as a file saved to the cloud and it begins to interfere thoroughly, is it possible to detect it?
As results and tests, we successfully launched three test networks that comply with the Phala whitepaper design. They even exceeded what we expected: the upper limit of online miners simultaneously increased to 100,000, and on-chain extrinsics exceeded 1,000,000 times. How much do I have to pay to enjoy the Phala service? What are the conditions of use ? Apart from the benefits of excellent service and security in the cloud, will users be rewarded monetarily with any incentives?
Considering the Guanxi Chen incident, or “revenge pornography,” and the countless private photos that were made public on the Internet, as well as private business documentation. Focusing on the terrible behavior of the Internet, once data is made public, it can never be erased. How many blocks does master-davidlee’s IPFS Privacy Cloud Drive cover?
What kind of information can you save in that cloud?
What rate of irrigation does have your cloud be hacked?
What types of privacy applications can be created in Phala?
As the years go by, since its foundation, the number of commercial partners has increased, how have they managed to maintain them and how is this WIN-WIN relationship?
One of the use cases exposed on your website for your technology is artificial intelligence and healthcare, I’m involved in the healthcare world and also an enthusiastic of blockchain technologies, I wonder how you can combine the different components of your TEE to the health services, specifically for medical records and real-time statistics?
Through your collaboration with the Polkadot protocol, you have led your project to be interoperable with external blockchains through the Polkadot relay chain, what is the scope of this chain and how do you plan to incorporate other chains beyond Polkadot?
I saw that some of the products Phala offers to it’s users are two things called “Darkpool” and “DarkWallet”, but it intrigued me the fact that you presented them on your website together, do they function as one sigle product, why? Can you explain us more about this products and why are they “Dark”? What differences this DarkPool and DarkWallet have if we compare them to a normal Pool or a regular Wallet?
While reading about your project, I saw that Phala is well known for being one of the most important, if not the #1 security project for Polkadot that currently exists. But as we know, there are other really good projects that aims to provide security to the Polkadot Ecosystem as well, so, what do you think are the biggest advantages Phala has over all this other competitors that puts it as the #1 security project for this ecosystem?
I read that one of the updates you recently made to Phala was a refactored Secret Wallet to support cross-chain usage. Can you tell us more about this refactored? What changes did you had to make to be able to complete this purpose? Also, what cross-chain usage does Secret Wallet support now? Will it be able to fully support all kinds of cross-chain transactions?
The roadmap of the project catches my attention, because in Q4 2020 it says: “Testnet Vendetta and Pre-mainnet: Darth Vader”. First of all, what do these fictional characters mean in relation to the Phala Network plans? And what does this part of your roadmap consist of?
As PHA is the native utility token of Phala Network and according to your website, Pha is also the key to the world of privacy. In connection with this ,can you expand more about this description of Pha? As your main focus is privacy,how does your platform brings a highly and a very secure confidentiality to your users and to your network? Can you tell us what security measures and precautions being implemented and applied in Phala Network? Thank you
Can you tell us a little about the plans you have for this year 2021? According to your roadmap, Phala will be launched in Kusama and Phala will be Decentralized phase by phase. What does this mean? What can users expect for this year? Also, in your roadmap there is no information about plans you have for 2022, do you have plans for next year?
In Phala Network, each contract (c.) Is associated with a symmetric key called the Contract Key (k). Contract keys are generated by Gatekeepers within pRuntime. Can you explain how these keys work and what is their use in Phala Network?
As Phala Network won the Parachain Slot Auction on Polkadot Rococo testnet, together with Litentry, Darwinia Network and Bitfrost Finance. So can you explain to us more about this auction in Polkadot Rococo Testnet? What is the main purpose and goal of this event? As one of the winners,how will Phala Network utilized or give justice the Parachain Slot in Polkadot Rococo Testnet? Essentially,as a winner how did it brings impact to Phala Network ecosystem and to community? Thank you
with what objectives Phala Network decides to compose its mining structure with a system based on NPOS and not on POW for its security and Polkadot, what differences exist in NPOS that do not have POW since they are similar, because it decided to do it under NPOS, what functions and Advantages allow this NPOS system with the Phala Network mining consensus?
Phala has a reward distribution mechanism called The Phala Watchman Program, can you give us an overview of what this program consists of and who can get benefits from it?
I loved that Phala has created a Follower Portrait with the data of its most active users around the world, the results show the main countries such as The United States, Vietnam, Indonesia, India, The United Kingdom, China, Philippians, Australia, Nigeria, German, however one of the purposes of your project is “MASS ADOPTION” where would this movement begin and how long do you plan to achieve it?
How does Phala Network manage to combine scalability, interoperability and composability to interact with other blockchains, in an environment that provides security and speed in transactions?
Polkadot’s main objective is to reshape the current structure of the Internet, making it completely decentralized, what they call Web3. What would be the benefit for Phala Network, in becoming a Polkadot parachain?
One of the important aspects in the world of cryptocurrencies is the confidentiality in the handling of the data and information of each user. Could you explain in a little more detail what the role of the gatekeeper, nominator, and consensus algorithm is?
It is risky buying PHA due to is high volatility, what are your plans with PHA to make it more secure for investors?
As a privacy Network, what data and processes can be untraceable with the use of Phala Network?
Phala Network’s security architecture consists of two types of nodes; TEE workers & Gatekeepers. With particular emphasis on the TEE Workers, whose basic duties are operating the hardware that guarantees code and data loaded inside to be protected with respect to confidentiality and integrity, similar to mining operations, it’s noteworthy that these Workers are only limited to a few cites in 3 continent, which is a really small number. What are your plans to increase & expand the operations of TEE Workers to literally all corners of the earth and what are the basic and standard requirements for one to be a TEE Worker?
Is it really necessary to use the smart contracts created on the hybrid TEE-Blockchain architecture in order to have maximum privacy on the blockchain? Or really with the ZK-Rollup you would get great privacy results, but without the interoperability that only Phala provides, right?
Really the only solution to avoid scams in financial systems, is to implement private DeFi? As decentralized as it is, privacy will always be necessary to prevent such attacks, right?
I understand that the confidential data is totally isolated, which provides a guarantee to the members since only authorization actions are allowed to be able to use the data, but could you really define what those “authorization actions” that must be fulfilled would be? Are they unique or are there several actions to select?
You mention that Phala’s confidential contracts are compatible with multiple standards, including Intel SGX and AMD SEV, that will allow you to develop any project in your smart contract, right? or are there really some impediments that Phala provides to its members?
I understand that interoperstivity is extremely important to use the full potential of DeFi, but in addition to it, there is also “composability”, which represents a 90% usefulness in smart contracts, right? But could you tell us what they refer to? with composability?
Will these private smart checks provided by Phala already be fully audited? Or does it require that each project that uses its contracts be in charge of carrying out the audit process?
I read that in 2018 was the foundation of Phala and that it was in 2019 that a large community was consolidated in China, but if that community really achieved that community, then what great applications or utilities have Phala provided to the Chinese community?
After the launch of Phala in Polkadot, what other activity and objective do you have? If you have one, why don’t you indicate it on the road map of your project? or haven’t you set your goals yet?
Phala Network is hoping to define a next generation privacy protecting wallet with the use of the “Phala Dark Wallet”, whose basic functions include; Convert, Secret Transfer & Secret Token. Though these levels of security are quite intricate and trustworthy especially for someone hoping to remain totally anonymous and safe on the web, but don’t you feel a balanced and safe level of scrutinity is the best option in today’s world, and how would you uphold your reputation on security and web safety with the possibility of the Phala Dark Wallet used for illicit activities and phony transactions?
All the Worker Nodes of Phala Network are required to be registered on the blockchain before participating in mining or Gatekeeper election. What are the requirements and how fast is the processing for registration for this program? And what hardware a worker nodes should have to stat running nodes?
Phala Network was founded way back 2018. Can you tell us what major events and milestones you have reached with the development of your project for more than 2 years? On your opinion, how many percent of the development of Phala Network’s functions and original design is complete?
Privacy, i know that is your keyword and why you stand out amidst other but tell us your mode of ensuring safe protection talking from my cyber security side of view ?
Very excited to see Phala claiming compatibility with Intel SGX and AMD SEV enterprise standards. Do you think you will have a say in influencing their future hardware development to be more geared towards the decentralized networks?
How do you fight cloud computing fraud and make sure all ledgers being analyzed by blockchain is being transparent to all users? because transparency is a for of privacy also.
Phala claims to be the only confidential contract protocol that keeps interoperability and composability. Could you please make a brief comparison to the nearest competitors in the field that Phala has? What are the main unique advantages of Phala? Thank you
Privacy, i know that is your keyword and why you stand out amidst other but tell us your mode of ensuring safe protection talking from my cyber security side of view ?
I am very interested to learn about your Web3 Analytics project. How do you plan to analyze user data without invading personal privacy. Will users have a way of delisting from the analytics gathering? Thank you
Phala Dark Wallet aims to be a killer app that users can hide their private assets and data, but also means that this might be exploited by criminal entities that are lurking in the crypto space. What are the safeguards that Phala will impose to atleast try to stop this kind of users to freely use your wallet as a tool to their schemes?
We all know what “privacy” is. But what kind of privacy that Phala offers to crypto world? Could you please explain with easy language using easy analogy that we (common people) can understand.
Can you share with us how is Phala’s mining mechanism, I read that Phala using NPoS system for consensus instead of using PoW, what is the different consensus NPoS and PoW? And for part of mining it said ‘coming soon’, can you tell us what coin will be available for mining? Its kind of BTC/ETH?
Is Phala’s testnet Vendetta reward program up to date! Who is this program focused on, what are the conditions for participation, how are rewards paid and where can they be spent?
Projects that cooperate with you, as they claim, often come to AMA in Satoshi Club. Tell me, when entering into partnerships with companies, are these alliances on mutually beneficial terms for both parties? Are there projects for which you yourself are an investor, sponsor, assistant, mentor?
Confidential contracts are executed in miner nodes with equipment that support Trusted Computing standards, which guarantees the secrecy of the contract data. I would like to know in more detail what these standards are and why do you choose them?
How do you plan to spread awareness of your project in different countries / regions where English can’t be used well? Does you have a community approach for them to better understand project ?
How long does it take to develop a project? What plans do you have for the future? And what can we expect from Persistence?
How do you plan to motivate investors to participate to ksm/dot auctions knowing that pha coins is already available on exchanges ?