Phala Network, part of the Polkadot ecosystem, announced a new Layer 2 launch on Ethereum, broadening its cryptographic solutions to a wider audience.
A New Step Towards Ethereum Integration
Recognized as a parachain on Polkadot, Phala Network aims to expand its reach by integrating with the Ethereum platform.
Introducing TEE Technology for Smart Contracts
Phala Network is renowned for its use of Trusted Execution Environments (TEE) technology to ensure security in decentralized computing solutions.
Collaboration and Future Prospects
Phala Network collaborates with ai16z to develop a TEE system named Eliza, ensuring private interactions for AI agents. With its transition to Ethereum, the company aims to present its innovative technologies to a broader audience.
By launching a new network on Ethereum, Phala Network hopes to strengthen its position and offer innovative solutions on the largest smart contract platform.
