Everyone in the crypto world knows smart contracts. But what is your expectation of smart contracts? Ours would be: Provide rich features like normal programs but with better performance and larger computing power by the concurrency of multiple computing nodes.

Smart contracts introduced by Ethereum blockchain are really an innovation to extend the capability. But now we see that with the development of blockchain applications, smart contracts have certain usage restrictions, which cannot perfectly satisfy developers' high demand for smart contract performance.

In order to solve this problem, improve the effectiveness of smart contracts, and serve more applications and developers, Phala team is launching a new open-source product called Fat Contract.

Fat Contract is a kind of decentralized program instead of the smart contract, which supports real-time computation-intensive tasks and has access to all the services even if they are out of the blockchains.

Why is Phala able to do Fat Contract, and what kind of issues can be solved by Fat Contract?

Will Fat Contract’s target be instead of Smart Contract？

Welcome to ask any questions about Fat contracts in Tech Talk 05.

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.

Tech Talk 05 ｜Get to Know Your New Phat Friend — Fat Contract