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AI-focused Polkadot task Phala is acceptable to afloat migrate to its Ethereum L2, betting connected its ecosystem for confidential AI and GPU compute growth.
Polkadot parachain Phala is acceptable to go an Ethereum furniture 2 aft the assemblage voted successful favour of a caller connection aimed astatine ramping computation offerings to endeavor clients.
“Proposal Passed: Phala is Migrating to Ethereum L2!” a Phala X station from Wednesday reads, adding that it marks the adjacent section for the task arsenic it pushes for “greater scalability and enterprise-grade security.”
The station adds that Phala (PHA) tokenholders volition person the caller ERC-20 variant astatine a 1:1 ratio, the “migration” volition commencement earlier Nov. 20, and that “staking, rewards, and governance” volition proceed seamlessly connected the caller furniture 2 (L2).
Phala announces cardinal changes to its community. Source: Phala This isn’t an abrupt determination by Phala, arsenic it already has a “live and functional” Ethereum L2 that was launched successful January. As the connection explains, the task aims to afloat migrate and absorption solely connected Ethereum to maximize imaginable upside.
Phala is simply a decentralized unreality computing web that is designed to supply private, unafraid and scalable computation for AI-integrated Web3 applications. It was 1 of the archetypal projects to unafraid a parachain slot arsenic portion of the auctions held by Polkadot successful precocious 2021.
The connection was initially submitted connected Sept. 27, with the person of Phala Network ecosystem occurrence “doylegxd,” recommending the determination to consolidate staking, governance and confidential compute successful a “stronger” Ethereum Virtual Machine-aligned ecosystem.
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The connection besides argued that renewing the parachain slot connected Polkadot would fastener the task into “infrastructure with constricted scalability” that would necessitate important resources to maintain. While moving successful Ethereum would besides alteration it to utilise next-gen computation tech.
“L2 offers little operational overhead and nonstop integration with Ethereum liquidity and tooling. It is besides the earthy location for deploying TDX and GPU-based confidential compute workloads, wherever we already spot early-stage commercialized traction,” the connection reads.
Why migrate from Polkadot?
Phala appears to beryllium 1 of the fewer that person decided to wholly determination from Polkadot to Ethereum.
Other projects, specified as Astar and the KILT Protocol, opted to grow their integration to Ethereum successful a multichain attack alternatively of abandoning Polkadot.
Phala’s connection suggests the determination was aimed astatine capitalizing precise niche tech that it needs to spur further growth.
The PHALA token is the 11th largest AI-agent-related crypto-asset by marketplace capitalization astatine $80.6 cardinal and is among the apical 50 largest AI tokens by marketplace cap, according to data from CoinGecko.
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