What is the current price of Phala Network?
The current price of Phala Network is $0.05821 with a 7.64% change in the last 24 hours.
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Derivatives and mapped ecosystem data, with source timings and coverage.
Phala Network is a confidential computing network that runs workloads inside trusted execution environments, or TEEs, so that code and data stay private from the machine operator while still producing a cryptographic proof that the right program actually ran. Its current focus is confidential AI: deploying containerized applications and large language models onto CPU and GPU hardware that can attest to what it executed.
The architecture changed substantially, so older descriptions are misleading. Phala began as a Polkadot ecosystem project with a Kusama canary chain called Khala and a Polkadot parachain. Khala was retired in January 2025, and after a community vote in October 2025 the Polkadot parachain was sunset on November 20, 2025 when its slot expired. Phala now runs as an Ethereum Layer 2. A live check of the network's public RPC returns chain ID 2035 and an OP Stack execution client, and the chain is described by the project as the first OP-Succinct rollup, combining the OP Stack with validity proofs from Succinct.
Official sources:
Phala was started by a team including Marvin Tong, Hang Yin, and Zhe Wang, who began building confidential smart contract infrastructure around 2018 and 2019 with the goal of giving blockchains a way to compute over private data. The project was an early Web3 Foundation grant recipient and became one of the better-known privacy and compute projects in the Polkadot ecosystem.
The technical direction has moved with the hardware. The original model relied on Intel SGX enclaves and a network of off-chain workers whose results were anchored on chain. As confidential computing matured on server CPUs and then on GPUs, Phala shifted toward Intel TDX confidential virtual machines and NVIDIA confidential GPUs, which made it practical to run whole containers and AI models rather than narrow enclave programs.
The ecosystem consolidation followed. Khala was sunset at block 7,918,688, with claims for the corresponding Ethereum assets opening on January 12, 2025. Phala Network 2.0 launched as an Ethereum Layer 2 in early 2025 in partnership with Succinct and Conduit. The Polkadot parachain was retired on November 20, 2025, with staking, governance, and confidential compute moving to the new network in the days that followed.
Three ideas carry most of the design.
Confidential virtual machines A developer takes an existing Docker Compose workload and deploys it into a confidential VM on Phala Cloud. The deployment path stays familiar, but the runtime becomes verifiable. The platform supports Intel TDX processors and NVIDIA confidential computing GPUs, with H100, H200, and newer generations named on the site, at a reported overhead of roughly 5 to 10 percent versus native execution.
Remote attestation Every execution produces a hardware quote and runtime measurements that a third party can verify. This is the part that makes the network more than rented servers: you are not asked to trust the host, you are given evidence about what the host ran. Attestation reports can be checked from outside the platform.
dstack dstack is the open-source TEE application layer beneath Phala Cloud, shipped as OS images, an SDK, a command-line interface, and key management services in both hosted and on-chain variants. It is what lets an application inside a confidential VM hold secrets that the operator cannot read.
For AI workloads specifically, Phala exposes OpenAI-compatible endpoints so that models can be served with private prompts and a verifiable runtime state, which is the practical shape of "confidential AI" for most developers.
PHA is documented with a maximum supply of 1 billion tokens, and the ERC-20 contract on Ethereum at 0x6c5bA91642F10282b576d91922Ae6448C9d52f4E reports exactly that issuance at 18 decimals, which is a rare case of the cap and the deployed contract matching cleanly.
Staking works through a vault. Depositing PHA into the staking contract on Ethereum mainnet mints vPHA, an ERC-20 named Phala Vault. Rewards accrue by exchange rate rather than by rebasing, so a unit of vPHA redeems for a growing amount of PHA over time instead of your balance increasing. Documented roles are:
vPHA can be held on the Layer 2, but unstaking is initiated on Ethereum mainnet, so tokens must be bridged back first. Note that gas on the Layer 2 is paid in ETH, not in PHA.
Most privacy projects in crypto are built on cryptography such as zero-knowledge proofs or multi-party computation, which are elegant but expensive for general computation. Phala took the hardware route, which trades a different set of assumptions for the ability to run ordinary containers and large models at close to native speed. Very few networks let a developer take an existing Docker Compose file, deploy it unchanged, and receive an attestation proving what ran. That combination of a familiar deployment path with verifiable execution is the distinguishing feature.
Compared with Oasis or Secret Network, which also use TEEs, Phala has moved furthest toward being a general compute cloud rather than a confidential smart contract platform, and it now settles on Ethereum rather than running its own base layer. Compared with decentralized compute markets such as Akash or Render, the differentiator is not price or raw capacity but confidentiality and attestation. Compared with zero-knowledge approaches, Phala offers far broader workload support at the cost of trusting silicon vendors and their attestation services.
Security rests on three layers. The chain is an Ethereum Layer 2 using the OP Stack with validity proofs, so settlement inherits Ethereum, and readers evaluating exit guarantees should check the current proof and sequencer configuration. The compute layer depends on the integrity of Intel TDX and NVIDIA confidential computing, including their attestation services, so a vulnerability in that silicon or firmware is a systemic risk rather than an application bug. The economic layer depends on staking and collateral requirements for workers and GPU miners, which give operators something to lose for misbehavior.
As AI moves toward handling sensitive data and holding real credentials, the question of who can see a model's inputs stops being academic. Phala is one of the few networks answering it with hardware attestation and a deployment experience close to ordinary cloud infrastructure. Its willingness to abandon a parachain slot and rebuild as an Ethereum Layer 2 also makes it a notable case of a project restructuring around where its users and liquidity actually are.
PHA is listed on major centralized exchanges, with pairs and availability varying by jurisdiction. Because of the migration history, confirm that a venue supports the current Ethereum contract before withdrawing.
PHA has been available on venues including:
Listings change, so verify current support on the venue itself.
Keep ETH available for gas on whichever network you use, and verify the contract address before deposits or withdrawals.
You can compare PHA with related projects on Coinrithm:
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Read the complete paper trading guideThe current price of Phala Network is $0.05821 with a 7.64% change in the last 24 hours.
The daily trading volume is $15,776,450 representing a 7.62% change in the past 24 hours.
The market capitalization of Phala Network is $49,957,767, ranking #313 globally.
The fully diluted valuation (FDV) of Phala Network is $58,212,550, calculated assuming the maximum supply of 1,000,000,000 PHA is in circulation.
Circulating: 858,195,821. Total: 1,000,000,000. Max: 1,000,000,000.
In the last 24 hours, Phala Network traded between a low of $0.05720 and a high of $0.06603.
PHA/USDTTether USDT0.05821 USDT
As per the data from Phoenix Group, other than $TAO and $RENDER, the prominent names on the top-10 list include $FIL, $ANKR, $ATH, $AKT, $PHA, $AR, and $SKR.
ChainGPT has partnered with Phala Network to deploy its open-source SolidityLLM on a decentralized, privacy-focused AI cloud.
