Polkadot parachain Phala developers have launched an Ethereum-based L2 network

Solutions from infrastructure providers Succinct Labs and Conduit were used for the launch

09.01.2025 - 10:00

2 min

What’s new? The Polkadot-based Phala (PHA) platform team has launched a Layer 2 (L2) network on the Ethereum blockchain in collaboration with infrastructure providers Succinct Labs and Conduit. Phala operates as a parachain in the Polkadot ecosystem, and the launch will allow it to expand on Ethereum. “Phala Network’s move to Ethereum signifies a bold shift to deliver its cryptographic computing solutions on the largest smart contract platform,” the developers note.

Material by The Block

What else is known? The Ethereum L2 scaling network utilizes Succinct Labs’ OP Succinct technology to improve the efficiency of OP Stack-based rollups by utilizing zero-knowledge (ZK) proofs.

Phala developers also used Conduit’s rollup-as-a-service platform to launch the new network.

Phala provides a network for deploying applications, including decentralized computing and artificial intelligence. Security is provided through trusted execution environments (TEEs), a specialized hardware technology for secure and private code execution.

TEEs allow developers to deploy confidential smart contracts in decentralized applications (dApps) such as AI agents.

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Phala recently partnered with the AI agent development platform ai16z to integrate TEE technology into the Eliza platform to enhance the privacy and security of interactions between AI agents.

Phala’s (PHA) native token ranks 318th overall cryptocurrency by market capitalization at $242,14 million and is trading at $0,3129, having lost 6,7% overnight. The weekly drop amounted to 15,5%, but the asset has risen by 84% over the month.

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