The Polkadot parachain project focused on AI, Phala Network, will completely transition to Ethereum Layer 2 after the community agrees to the new proposal. The goal is to leverage the Ethereum ecosystem to develop secure computing services for AI and GPU, while enhancing scalability and enterprise-level security.
PHA tokens will be exchanged for ERC-20 at a 1:1 ratio, with staking, rewards, and governance remaining unchanged. Phala focuses on consolidating staking, governance, and secure computing on Ethereum, unlike projects like Astar or KILT that only expand to Ethereum but still maintain core features on Polkadot.
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