Recap: Phala Chamber #3— Khala Secure Worker Mining
This is the Q&A collection for Phala Chamber 003 in case you missed the live stream. Note: the following text is an excerpt, enjoy it~
Q. : Since few of the stakers seem to be using handlers to contact pool/worker-node owners. What do you think is the best way to communicate with delegators?
I think communication is very important, personally, I think it’s nice if we can have a link for each pool so that the pool’s owner can put some introduction and their’s contact information there, or even create their own chat room to better communicate with delegators. In other staking systems, for example, the Polkadot, many delegators have their profiles and contact shown. Some of the professional stakers even have their own websites. Also, self-marketing and self-promotion are important too.
Q. : APR & claimable rewards: At the launch of staking, claimable rewards were higher than in given APR calculation. Recently the APR claimable rewards are lower than in given APR calculations. Was the high reward paid out a mistake and now lower to makeup for this mistake?
I think the APR on the delegation board is the true reflection of the APR when you stake. We are also improving and updating something on the pool. Another thing is, there are reasons why the system is not called staking but delegating because there are multi-layers for APR. For the miners, the real APR is based on flat calculation. For workers, however, it’s a true APR because no matter how the delegators acting on their work, it only reflects the total pool share rather than some specific workers who are already bonded with PHA tokens.
Q. : Is there a limit to those online/active pools? If there is no limit, how can pool-owners ensure their profit/motivation to recoup their node operational costs?
None of the mining ecosystem guarantee profit, but miners always can find ways to make the best profit. As for the cost, including geography, power fees and equipment cost, etc. is different based on your reality. The energy cost for Phala is not meant to be high, but now it’s not cheap, but we believe it will be cheaper in the future. We meant to build a friendly and easy operation system for miners. For the staking cost, there is DeFi feature in it: participate and get rewards from it.
In the long run, the ecosystem may involve on its own and we may have a better way to allow the different pool owners to advertise their pools. Some pools, among them, if they run smoothly with professional operation, they can get a bit larger rewards. But at the same time, people still want to contribute. Regarding the consumption, the CPU consumption now is 100% CPU if you give all your cores, but in the future, the very important thing is to lower down on that because we don’t want to just burn down the power for no sense, right? After we launch the computation task or confidential smart contract, then the exception of the smart to get rewarded not just for staying idle, if you check the Polkadot.js page, and the mining state, you will see there are 2 mining states, one is mining idle, and now, everyone who is mining is mining idle. Idle means doing nothing it’s just waiting for tasks. But there is also another state called mining active, which means the miner is running a real smart contract. It hasn’t been enabled yet, but in the future, it will be something. So I think, in the long run, the wasting of the power will be mitigated first and completed removed.
Q. : What additional key features will be added to the APP UI? For example, a button to “Hide Inactive Pools” / “Hide Inactive Workers” / set “Alarm Messages” etc.
Our team already made the future discussions last week, we put it into the to-do list based on the discussion. Hide inactive pools and hide inactive workers are something that should be considered, if you check the filters, something is already there now, there will be some filters you can manually choose. For the bad behavior of the pools, we also brainstormed something. For example, we can put an information card at the top of it so that everybody can check which pools were already reported as bad behaviors, then you can avoid them. But all the decisions we are considering right now are to show all the features of the activities of data for each pool, so that can help people make their best choice. But if there is too much power in StakePool, we should give a chance to those inactive pools and workers too. Because someday, there are always some pools on the top and the others at the bottom.
*For the full version, please check the video below.
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 but not wasteful. 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 to 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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