Why is the PHA project mentioned today? That's because news came out recently: PHA is about to start mining! As the most potent and well-known star project in the current Polkadot ecology, PHA has attracted the attention of many miners. Before introducing PHA, we must first mention Polkadot. The Polkadot project was launched in May last year and was founded by Ethereum co-founder Gavin Wood, who served as the CTO of Ethereum during 2013-2015. There is absolutely no doubt about his technical ability. It is generally believed in the blockchain circle that he is another great technical master after Satoshi Nakamoto and V God. PHA chose to develop the Polkadot because of its technical strength. It was recognized.
How to allocate PHA token details
According to phyla’s white paper, the total issuance of PHA is 1 billion pieces, which are used in five significant aspects:
(1) 70% is used for TEE mining: This part of the reward is allocated to TEE miners, data owners, and data users. This part is fixed in quantity and does not participate in inflation distribution.
(2) 15% is used for private equity financing: mainly used for Phala development funds, operation promotion, etc.
(3) 9% is used for Polkadot community construction and para chain auctions: users are encouraged to use ETH and DOT tokens to participate in mortgages and get airdrops.
(4) 5% is used for team rewards: 10% will be unlocked after the mainnet is launched, and 5% will be unlocked every month after that.
(5) 1% is used for testnet rewards: this part is used to reward early test users.
How to participate in PHA mining
According to the data, Phala is expected to be available for mining on the mainnet in July 2021. At that time, PHA miners need to run the Phala mining pool protocol component to participate in PHA mining.
The Phala mining pool protocol component is an open-source development component for miners designed to assist public mining pools and cluster mining farms in managing TEE equipment. A public mining pool is a public mining pool system operated by a third party that provides access services for users' mining; a cluster mining farm is a network of multiple TEE devices that are private to users and require cluster management.
PHA recommended hardware configuration
To run the Phala mining pool protocol components, the CPU, RAM, storage, system, and network need to meet the following conditions:
CPU: Intel E5/8th Core I7
Storage: ≥ 1TB SSD with large cache (NVME PCI-E 3.0*4)
System: Ubuntu 18.04 server or Ubuntu 20.04 server
Network: LAN bandwidth ≥ 1GB
It should be noted that the Phala mining pool protocol component does not process TEE operations during operation, so SGX support is not required.