Phala: 76% I
Review Date: January 21st, 2021
Phala is the first confidential smart contract networkbuilt on Substrate, aiming to provide confidential computation and data protection services for enterprises and users. Phala Network would serve the whole Polkadot ecosystem as one of the Polkadot parachains. Phala applies TEE (Trusted Environment Execution) which allows confidential data to run in an isolated and private environment and outputs results alone with authorization.
Trusted Environment Execution for confidentiality is one of the major pieces that could bring huge companies to use Blockchain technology as the amount of use cases is so vast. With the blockchain ecosystem as a whole evolving fast, Phala is doing things greatly by focusing on interoperability between different chains. We will keep an eye on the progress of the team deploying mainnet, but it is definitely a project to have in mind.
