Enhanced Smart Contracts for Web3 Builders

[PRESS RELEASE – Singapore, Singapore, June 16th, 2023]

Web3 infrastructure provider Phala Network has launched Phat Contract, an enhanced smart contract solution for blockchain builders. Phat Contract makes it easier for developers to connect a smart contract to virtually any blockchain ecosystem.

Phat Contract is an off-chain program running on Phala Network. It connects smart contracts, allowing them to interact with the real world more efficiently. Engineered to bridge the gap between web2 services and the web3 universe, Phat Contract enables effortless integration across EVM and Substrate blockchains in a trustless environment. This allows smart contracts to extend their capabilities to the off-chain world, making smart contracts even smarter.

An innovative solution for implementing web3 functions, Phat Contract ensures efficient interaction with off-chain data while maintaining trustworthy and secure information. Phala’s solution is designed to significantly enhance development efficiency for web3 developers and securely enable off-chain computation. By offering a virtually cost-free computation, Phat Contract spurs the rapid advancement of web3 applications.

Phat Contract helps developers build next-generation applications. It’s built upon Phala’s closed beta, which launched at the end of 2022 and has been used by 48 applications, including Apillon, InvArch, W3A, and PrivaDEX. The mainnet version of Phat Contract has made significant improvements in optimizing user experience.

The ability to deploy applications without the need for coding greatly enhances application deployment efficiency and productivity. Phat Contracts provide predefined components (Phat Bricks) and customizable templates (Blueprints) to effortlessly construct efficient dApps.

Phat Contract has launched a customizable LensAPI Oracle Blueprint that requires no coding. It means that SocialFi users can easily tailor the Oracle to their needs. Phat Contract realizes the possibility of bridging any API from the web2 to the web3 world. Users can dive into the future of Oracle Integration with Phat Contract, empowering no-code applications.

Phat Contract offers different deployment scenarios to cater to various users. Beginners can directly build applications using pre-defined blueprints, enjoying the convenience of not requiring any programming skills. Advanced users, who usually have a solid background in writing smart contracts and a basic understanding of Rust, can customize contracts according to their needs.

Phat Contract enables smart contracts to run conventional code in languages like JavaScript, TypeScript, and Rust. This allows them to carry out familiar web2 tasks, such as invoking an API and executing code based on the returned data. Build innovative applications via Phat Contract, developers also can apply for grants in the Phala builder program.

Phala’s Phat Contract transforms smart contracts into a powerful tool to automate transactions, decentralize systems, and rebuild trust while communicating with off-chain networks.

About Phala Network

Phala Network is a decentralized off-chain compute infrastructure. With its off-chain programming model Phat Contract running on Phala Network, it enables developers to make smart contracts even smarter.