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Phat Contract: Smart Contracts. Now Smarter.

Tuesday, 06 June 2023 09:00

Connect your smart contract anywhere. The Web3 Builders Stack just got a major upgrade.

SINGAPORE / ACCESSWIRE / June 6, 2023 / - With the rapid growth of the Web3 ecosystem, smart contracts have emerged as a powerful tool to automate transactions, decentralize systems, and rebuild trust. Despite their groundbreaking potential, smart contracts are often constrained by the difficulty of performing computation and storing data on blockchains, as well as an inability to communicate with off-chain networks.Phat Contract, a next-generation off-chain program running on the Phala Network, empowers smart contracts, allowing them to interact with the real world more efficiently.

Phala Network, Tuesday, June 6, 2023, Press release picture

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 enables smart contracts to extend their capabilities to the rich off-chain world, making smart contracts even smarter.Experience the next generation of no-code applications with Phat Contract, reshaping the landscape from this point forward.

An Innovative Solution for Implementing Web3 Functions

In Web3, ensuring efficient interaction with massive off-chain data while maintaining trustworthy and secure information has become exceedingly challenging. Achieving both convenience and efficiency in application deployment adds an extra layer of complexity, but that does not mean it is impossible.

Phala Network, Tuesday, June 6, 2023, Press release picture

Benefits of Phat Contract Solution

Phala's solution is designed to significantly enhance development efficiency for Web3 developers while securely enabling off-chain computation. By offering a virtually cost-free computation, Phala's solution spurs the rapid advancement of Web3 applications.

Accelerate your Web3 App development with One Click Deploy Blueprints

Phala delivered Phat Contract to help developers build next-generation applications by introducing the capability of off-chain computing with composability in December, 2021. Additionally, its Closed Beta was launched at the end of 2022, which has been used by 48 applications, like InvArch, W3A and PrivaDEX as their infrastructure.

The mainnet version of Phat Contract has made significant improvements in optimizing user experience.

1. A No-Code Experience - "Blueprints"

For Web3 developers, speed is essential in catching up with the crypto market. The ability to deploy applications without the need for coding greatly enhances application deployment efficiency and productivity. Phat Contracts provide pre-defined components (Phat Bricks), and customizable templates (Blueprints) to effortlessly construct functional and efficient dApps.

Deploy an LensAPI Oracle in just 5 minutes!

Phat Contract has launched a customizable LensAPI Oracle Blueprint that requires no coding LensAPI Oracle. SocialFi users can easily tailor the Oracle to their needs.

Phat Contract realises 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 like never before.

Phala Network, Tuesday, June 6, 2023, Press release picture

How Phat LensAPI Oracle works

2. Omnichain Compatible

Phat Contract now supports all EVM-compatible chains, such as Ethereum, BSC, and all layer-2 chains like Polygon, StarkNet, etc. It also supports all Substrate-based chains, like Polkadot, Moonbeam, Astar, and more. It can support all blockchain ecosystems as users need.

Phala Network, Tuesday, June 6, 2023, Press release picture

Network support

3. User-customizable Modules are available

From no code to full code, we have got you covered. Users can interact with Phat Contract on the level that works for them.

Phala Network, Tuesday, June 6, 2023, Press release picture

Phat Contract customized modules ladder

Phat Contract offers three different deployment scenarios to cater to various user needs. For beginners, they can directly build applications using pre-defined blueprints, enjoying the convenience of not needing 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. The above image shows the different modules in the entire Phat Contract system, and each module supports customization.

4. Multi-languages support

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.


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SOURCE: Phala Network

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