A non technical guide to Phala Network
So we are talking about the Phala technical paper. So in this piece we are talking about the data trust problem, the help of blockchain so far, why current blockchain sucks, the influx of privacy crypto, their limitations, Phala solutions, pLibra, Web3 analytics, and so on and so forth.
Data Trust Problem
The internet-enabled what we called permissionless innovation where people can build Apps or can create contents in different forms. It could be a podcast, images, audio/visual, it could be in sharing, likes, comments, or whatsoever in such a way that everybody all over the world can get to be entertained, educated or get information, etc.
But with this innovation comes the data privacy issue or much of this, there is a war right now that is not fought on the physical terrain,it is the battle for the data of the people so it's like saying it’s the battle for the souls of men like God versus the devil problem, where they are fighting for the souls of men.
However in this case, many platforms are actually fighting for attention.
Everything revolves around attention. How much data to gain from an image. So right now, how much data can we actually extract from a person spending time. How do we get people to spend more time on this platform because the more time people spend in our platform, the more data will be actually generated and the more data generated the more money we can actually make.
So there is a data trust problem.
The help of blockchain
Now blockchain has come to help in some ways, there is transparency, there is decentralized computing, there are some forms of things, but blockchain has not really been so good because it sorts its own ways.
The current blockchain design is not good for confidential transactions. So businesses for example and also individuals.
Let’s take, for example, now you are Facebook, somebody can go there, look through your photos, see where you have been, see what you have liked and what you do not like. See who you have talked to or comments on whatsoever. But there are cases where you just want your own stuff to be private. Right? That is where you have things like telegram, status but that is at the personal level.
We are talking about businesses, the businesses will not deploy their contract on something like Ethereum. And that is why Ethereum is working so hard and is bringing so many inventions like the baseline protocol to enable businesses to transact in a private way. So when it comes to privacy, there are those who have built private messengers like status and all that, the approach so far has been fragmented and there are those who have built stuff like private exchanges, we have the likes of Deversifi where you can hide balances and all that and there are those that have built stuff like privacy marketplaces like Syscoin, Particl and there are those who have built privacy coins like Monero,Zcash etc, so you can see there are different, different cases right?
But how about we build a kind of blockchain in a smart contract and decentralized application layer, where you can build anything. So rather than building things in silos, we can build something like an Ethereum version that is built specifically for confidential transactions and that is where the Phala system comes in.
It gives developers the opportunity to build a decentralized confidential contract.
Different roles in Phala
Users: the users are basically individuals who invoke, query, and deploy smart contracts on the platform
Worker nodes: The worker nodes are divided into different groups:
— Genesis notes: these are participants who will help boostrap the network but once the network goes live the genesis nodes will have to be deleted and taken from the network.
— Gatekeepers: They are involved with the security and validation of blocks of the network.
— Miners: They help with the execution of these contracts.
Remote attestation service: And then there is this remote attestation service to check if the pRuntime was deployed successfully.
Blockchain: And then we have the Phala blockchain itself.
The pLibra project is a privacy layer to help developers who seek to build on Facebook libra but want some element of privacy, the pLibra token is pegged on a 1:1 to the libra coin, the team believes that even if there are many hurdles and mountains that Facebook may have to cross, the libra project may come to fruition.
There are many people who are already learning the Move programming language( Libra own smart contract language).
The Web3 analytics is for businesses who want a decentralized alternative to a platform like Google analytics. So you can see a lots of platforms, in the blockchain circle that are still using web2 tools like google analytics.
So the web3 analytics is a platform that provides data analytics as Google does but in such a way that it is so private, you can say its privacy over its kind of analytics over private data.
That a brief about the Phala network. So there are a number of things you can do right now, there are testnet incentives, you can deploy contracts, you can create a privacy token and get a reward, you can be a watchman.