Shyft Network (SHFT)

Shyft Network (SHFT)

Rank #938

$0.008366

2.57%

0.00000036 BTC

SHFT
USD

MARKET CAP

$5.042M

ALL TIME HIGH

$6.40

VOLUME 24H

$48.494K

CIRC. SUPPLY

602.63M

VOL/MCAP

1.00%

TOTAL SUPPLY

2.52B

DILUTED MCAP

$21.083M

MAX SUPPLY

2.52B

1H USD

0%

24H USD

2.57%

7D USD

10.1%

30D USD

16.71%

60D USD

0%

90D USD

0%

Tag:

identityalgorand-ecosystempolkastarterpolygon-ecosystemView all

Shyft Network Price Chart

24h Change

2.57 %

Shyft Network - SHFT Profiles

What is Shyft Network ?

Shyft Network is a blockchain-based protocol that enables secure and verifiable messaging between individual users and trusted parties. Shyft Network leverages the participation of parties and their user accessibility under existing compliance, and adds the ability to transmit attestation of user data to other parties upon request if required. user consent.

This functionality is intended to facilitate entirely new data markets that empower individual users through an opt-in framework to protect their personally identifiable data. The Shyft Network is built on top of a modified version of the Ethereum Virtual Machine, optimizing some of the underlying source code to facilitate the processing of higher transaction volumes and lower transaction fees.

What problem was Shyft Network created to solve?
The current DeFi ecosystem tends to suffer from trust issues as participants perform anonymous activities, in violation of the requirements of financial institutions.

Major liquidity providers are blocked from interacting with DeFi because of unclear regulatory constraints, which require them to certify the source of funds.

Similarly, platforms in DeFi face barriers when it comes to accessing larger capital.

Regulators do not understand DeFi well enough to launch appropriate policies to encourage Defi growth.

How does Shyft Network solve the above problems?
Identity verification
The project provides a platform to collect, store and share user identification data on demand. The project's platform acts as a trust anchor and bridge between users, the DeFi platform, and centralized organizations by securely delivering the requested data.

The project is able to process trustless transactions between two parties in a decentralized environment by helping parties comply with all regulatory requirements imposed on centralized systems. The platform achieves this by acting as a Trust Anchor that validates personal data and transaction details by presenting their proof on the blockchain.

Create compliant assets and asset records
Only verified individuals and organizations can create DeFi assets and asset pools such as loans, liquidity pools, derivatives, governance tokens, etc.

Shyft Network can act as an authenticator for DeFi participants. Verified users will be whitelisted, allowing them to participate, create, and gain access to content that needs to be verified.

Malicious and suspicious agents will be blacklisted as a precaution for other users to reduce risk.

Compliant decentralized credit scoring
As part of its ongoing development plan for 2021/2022, Shyft Network plans to implement a blockchain-based credit scoring method that relies on user data stored on nodes instead of using scores. their credit from the legacy financial system.

This framework will help create a better credit score for an open and independent DeFi ecosystem. The project's goal is to solve the problem of over-collateralization in DeFi, improve access to credit, and open the door for entry into the ecosystem of legacy lenders.

Who is Shyft Network operated by?
Shyft Network is operated by four actors: Trust Anchor, Data Owner, Data Consumer, and Shyft Ring Node.

Trust Anchor
Trust Anchor stores regulatory-managed data that it receives from the Data Owner's consent and stores, reviews, reads, writes, validates, and validates that data. This data forms the basis of the user's digital identity. Trust Anchor is regulated by financial institutions, cryptocurrency exchanges, regulators and social media networks, can set its own rules and work with other actors in the ecosystem. Shyft Network, while individuals enjoy data rights.

Data Consumer
Data Consumers are third-party services that do not store “hard data” and are not considered fully trusted parties on the Shyft Network. The Data Consumer will provide a pre-approved service to the Data Owner that requires trusted data authentication. When Data Customers request information from the network, they pay a small fee to the Data Owner and Trust Anchor in exchange for authenticated information.

Data Owner
The Data Owner can be an individual or an organization registered for a service at Trust Anchor or Data Consumer. These individuals or organizations have authentication-based rights to control, share and revoke personal data through private keys. Only they have access to private keys and can grant access to their data through the Shyft Network's consent-based framework, under which they are incentivized to share their data.

The Data Owner receives offers from Data Consumer for pre-approved services that require proof of reliable data. Data Consumer pays a small fee to the Data Owner and Trust Anchor for valid information.

Shyft Ring
Shyft Ring is a public blockchain powered software for global consensus. Shift Ring is part of the Ethereum source code combined with Shyft Network extensions. Shyft Ring participants validate the entire state of the network as locally connected nodes for non-full node users and complete PoW hashing steps to transmit blocks and establish security. Validators are incentivized based on the workload allocation required for optimal performance of the Shyft Network.

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People

We found 2 people related to shft-shyft-network, include Kris Coward

Organizations

We found 10 organizations related to Shyft Network has Bitfury Group, The Spartan Group, Morningstar Ventures, Maven 11 Capital, BlockTower Capital, Blockchange Ventures, Connect Capital, GSR, Shyft, CoinFund

Shyft Network Price Live Data

SHFT Price

$0.008366

Trading Volume

$48,493.71

All Time High

$6.40

1hour Change

-0.06%

24hours Change

2.57%

24hours Range

-2.57%

24hours Low

$0.39

24hours High

$0.44

Liquidity ±2%

$7.57 B

Bids -2%

$75,712.00

Asks +2%

$68,291.00

Market Cap

$5.04 M

Fully Diluted Market Cap

21.08 M

Circulating Supply

602.63 M

Total Supply

2.52 B

Max Supply

2.52 B

Shyft Network Markets

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