The Shyft Network Ecosystem

Shyft Network participants are core to the growth of our decentralized data network. Through powering the exchange of verifiable identity, and thus growing our network, they’re rewarded for their contributions.

Virtual Asset Service Provider

VASPs regulated under the FATF Travel Rule guidance, including cryptocurrency exchanges, OTC desks, custodial wallets, etc.

Government Partnerships

Shyft partners with governments to build digital identity solutions, and works closely with technology partners to build relevant components on Shyft’s public network infrastructure.

Technology Partnerships

Shyft provides a public infrastructure oriented around data attestation and validation.

Data & Analytics Partnerships

Suppliers of data to the Shyft Network. For example, KYC providers and identity verification companies play a crucial role in providing additional identity-related data sources to contextualize Shyft identities and enhance the reliability of the network.

Network and Ecosystem Partnerships

Partners that provide data and network analytics services.

Trust Anchors

When privacy is the mission, trust is the anchor

Trust Anchors are predominantly regulated entities which hold, maintain, review, read, write, and confirm the validity of data which they receive from data owners, formulating the basis for digital identity. Each Trust Anchor sets their own rules and is fully interoperable with other actors in the Shyft Network ecosystem (see below), helping us build the next generation of economic and systemic stability for data rights, centered on the individuals themselves.

Data Owners

Authentication that keeps your data, your data

Data Owners are individuals or entities that sign up for a service with a Trust Anchor or Data Consumer. These parties have the authentication-based right to control, share, and revoke private data, which they maintain sole control over via private keys. Only Data Owners can grant data sharing access via our consent-based framework (an incentivized action). The only data shared on public blockchains are the data users directly consent to — no private data lives on the public blockchains (only references to where it resides). Shyft aims to enable the next generation of secure and trusted quality data markets by expanding users' rights over what's shared — and where.

Data Customers

Creating integrations for your data privacy

Data Customers are third-party services that do not control “hard data” (quantitative) and are not regarded as fully-trusted parties. These parties hold and share “soft data” (qualitative), providing context to “hard” user data and network activity.

Data Customers will offer Data Owners pre-approved services that require verification. When doing so, they pay a small fee to the Data Owners and Trust Anchors in exchange for the verified information, ultimately expanding the data marketplace and enabling new consumer and business opportunities across the ecosystem.

Shyft Ring Nodes

When we are all connected, the possibilities are endless

The Shyft Ring is the public-facing blockchain-enabled software for global consensus, the base of which functions exactly like the Ethereum network. Using a fork of ETHs codebase, Ring participants (nodes) run on secure, open-source code with Shyft-specific extensions that benefit the entire blockchain and cryptocurrency ecosystem.

Smart Contracts

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.

Shyft Safe

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.

Shyft Block Explorer

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.

SHFT Token

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).

Shyft Federation

The Shyft Node Federation

The Federation is the collective of Shyft Network validator nodes who operate independently. The Federation ensures the security, stability, and advancement of the Shyft Network. The chain provides censorship resistance, high throughput, high uptime, and permissionless deployment of smart contracts.

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