Privacy smart contract platform Phala Network test network POC-1 officially launched

The privacy smart contract platform Phala Network has released the test network POC-1. At this stage, the test network has not yet opened nodes and TEE miners, but it has already supported functions such as transaction transfer in a private environment and one-click release of private assets. Earlier news, Phala Network received funding from the Web3 Foundation in August 2019, and is the first confidential smart contract platform of Boca Ecology, dedicated to becoming the infrastructure for Web 3.0 data privacy computing. The data transaction protocol under the premise of confidentiality can be realized through the TEE blockchain structure. Phala developed based on Substrate will become a Polkadot parachain in the future, providing privacy smart contract capabilities for any blockchain through cross-chain protocols.