Phala Network Enters Strategic Partnership with MathChain
We are excited to announce Phala has expanded its strategic partnership with MathChain. Through this partnership, MathChain can enhance cross-chain privacy protection for transactions and data services for DeFi and NFT by integrating Phala Network confidential contracts.
This kind of cooperation can solve a dilemma that DeFi Apps now face. DeFi users can leverage MathChain to achieve interoperability with Polkadot parachains, and Phala Network can provide the privacy solution to protect transaction data from being revealed on the expanding and permissionless Polkadot ecosystem.
In the future, MathChain and Phala will work together to provide data privacy protection and build deep collaboration on infrastructure construction to enrich the Polkadot ecosystem.
About MathChain
MathChain is a layer 2 blockchain based on Substrate to allow for massive adoption, easy go-to-market, and inclusivity for diverse blockchain applications. Its core product is MathWallet, which has millions users around the world.
MathWallet is a multi-platform universal crypto wallet that enables token storage of 60+ chains, including BTC, ETH, Polkadot, Filecoin, EOS, Solana, BinanceChain, and Cosmos. The project supports cross-chain token exchange, multi-chain dApp storage, and operates nodes for POS chains.
MathChain is a selected project for the Parity Substrate Builders Program and Web3.0 Bootcamp.
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About Phala
Phala Network tackles the issue of trust in the computation cloud.
This blockchain is a trustless computation platform that enables massive cloud processing without sacrificing data confidentiality. Built around TEE-based privacy technology already embedded into modern processors, Phala Network’s distributed computing cloud is versatile and confidential. By separating the consensus mechanism from computation, Phala ensures processing power is highly scalable. Together, this creates the infrastructure for a powerful, secure, and scalable trustless computing cloud.
As a member parachain of the Polkadot cross-chain ecosystem, Phala will be able to provide computing power to other blockchain applications while protecting the data layer, enabling possibilities like privacy-protected DeFi trading positions and transaction history, co-computing DID confidential data, developing light-node cross-chain bridges, and more.
On-chain services currently being developed on Phala Network include Web3 Analytics: high-performance smart contracts from Phala enable highly concurrent mass data analytics with privacy, paving the way for an alternative to Google Analytics that inherently respects individual confidentiality.
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