Shyft Network: Alphanet.

The Shyft Network isn't hypothetical technology, it's already being built. Now, we’re calling on individuals, organizations, and companies to prove and verify identity credentials, ownership rights, and credibility between counterparties in real-time and at scale. Will you join us?

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The Shyft Ecosystem

Shyft operates with the help of a few major types of users and institutional contributors.

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01. Trust Anchors

Trust Anchors may include organizations, enterprises, institutions, public and private networks, or any other party who contribute to the network by attesting verifications.

Shyft enables any proof-of-sender rule set on the blockchain including conventional KYC, physical verification, or other compliance procedures.

Trust Anchors attest to the network and other participants that specific information about a given user has been verified. This formulates the basis for cumulative credibility.

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02. Data Holders

These are the participating trust anchors who maintain control over data via private keys, to which only they have access, and can grant access to certain data upon network request. All actions regarding the transfer and approval of data is done with informed consent.

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03. Data Users

These are the businesses, services and other network participants that neither hold nor verify data, but want to leverage the network’s ability to source data and identity verification for their prospective customers. When they request information from the network they pay a small fee to the data source and the network in exchange for the attested information.

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04. Nodes

These are network clients who run a copy of the network blockchain. Each node acts as a validator, running a single piece of software that connects to distributed peers, organizes validation efforts, and aides in recovery efforts in the case of a breach; all of these activities are incentivized by the network.

Network Architecture – Phase 1

Network Features.

ITXB

The Identified Transaction Exchange Blockchain (ITXB aka the Shyft Blockchain) is the underlying layer that makes Shyft possible. Derived from the Ethereum codebase, ITXB leverages Ethereum’s strengths as a programming platform for the blockchain while optimizing it for scalability and interoperability.

Shyft Bridge

The Bridge acts as both a gate and a gatekeeper; ambassador and guardian. It monitors Network activity in vigilant search of malicious behavior, and has the ability to slow down or pause block validation if it detects a serious threat, such as an attempted 51% attack. It also facilitates interoperability with external networks.

Smart Contracts

The Identified Transaction Exchange Blockchain (ITXB aka the Shyft Blockchain) is the underlying layer that makes Shyft possible. Derived from the Ethereum codebase, ITXB leverages Ethereum’s strengths as a programming platform for the blockchain while optimizing it for scalability and interoperability.

Shyft Safe

This is a key safety and anti-censorship feature powered by Smart Contracts. Essentially a form of long-term bookkeeping, the Safe ensures that asset records are continually synced across multiple blockchain networks, making it even more prohibitively difficult to falsify transactions.

The Shyft Block Explorer

Some blockchain networks, such as Ethereum, are hampered by the reliance on a single block explorer (such as EtherScan, in the case of Ethereum). Shyft can provide all nodes with the tools required to launch their own block explorers, thus removing a key point of failure. Additionally, 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.”

Relational Merit Scoring (RMS)

Based on the same algorithm that powers Google’s PageRank search system, RMS adds a powerful layer of functionality to the network by assigning relational metrics to all user types. RMS cannot be purchased, as it’s awarded according to the frequency and reliability with which users perform valuable tasks for the Network. Think of it as a decentralized credit score.

Shyft Token (SHFT)

SHFT is the fuel of the Network and the primary means with which attestations and other Network tasks are incentivized. It can be obtained from our Token Store.

Dive deeper into Shyft specs.

Download Whitepaper Download icon Visit GitHub Arrow icon

News & Articles

CipherTrace and Shyft Partner to Address the New FATF Virtual Currency Travel Rule

19/07/02

CipherTrace, Shyft Unveil ID Protecting Solution to FATF Crypto Guidance

19/07/02

Partnership series: Harmony X Shyft Network

19/07/02

G20 Gives Official Support to FATF Crypto-Regulation Guidelines

19/07/01

FATF's Crypto Guidelines Could Pose Serious Financial Privacy Issues: OECD Blockchain Advisor

19/06/21

FATF Recommendation 16 Could Send Bitcoin “Back To The Dark Ages”

19/05/24

Shyft’s Privacy and Consent Framework

19/05/03

Shyft Network initiates a phased mainnet rollout and announces Byfrost, its revolutionary bridging technology

19/04/17

The power of Shyft’s attestation features

19/04/02

Recognizing the value of data

19/03/10