On-chain validation and verification
Many key network functions are regulated by a set of purpose-built Smart Contracts. For example, certain contracts facilitate KYC/AML checks, satisfying the needs of cross-jurisdictional regulators and required compliant entities across crypto and blockchain.
Your assets under lock and key
The Shyft Safe is a smart contract-powered bookkeeping software that manages and protects certain assets on the network, enabling users to control their assets. Safe assets verify data across blockchains and address single-point-of-failure problems.
Transparency over transactions
Some blockchain networks, such as Ethereum, are hampered by relying on a single block explorer (such as EtherScan). Shyft can provide all nodes with the tools required to launch their block explorers, thus removing a key point of failure. The Shyft Block Explorer offers a feature set previously unavailable to the ecosystem, such as the ability to view the individual transactions that make up “internal transactions” in a token economy.
Incentivize your cryptocurrency
SHFT is the fuel of the Shyft Network and the primary means with which attestations and other network tasks become incentivized. As the network evolves, SHFT’s use cases will also ensure that the token is always core to network activities. Some examples of how SHFT will be used in Phase 1 include:
Core network partners, such as Trust Anchors and government partners, will buy and stake SHFT to secure their role in the network. Data Owners (users) are rewarded in SHFT for the sharing of their data attestations and data with Data Consumers (VASP’s, DeFi).