Shyft

What is Shyft Network?

Shyft Network is a **public blockchain protocol built for identity, trust, and compliance**, enabling enterprises to embed verified data—such as credentials, KYC/AML, and credit attributes—seamlessly into decentralized systems :contentReference[oaicite:4]{index=4}. :contentReference[oaicite:5]{index=5}

At launch in July 2021, Shyft adopted a semi-permissioned validator set—initially 21 nodes—operating with PoS-based mechanisms alongside tailored authority elements :contentReference[oaicite:6]{index=6}. :contentReference[oaicite:7]{index=7} :contentReference[oaicite:8]{index=8}.

Shyft’s **compliant DeFi features** include:

• **Identity Verification & Credentialing**: Attest credentials on-chain while maintaining user consent and data confidentiality :contentReference[oaicite:9]{index=9};
• **Compliant Asset and Pool Creation**: Only verified participants may initiate regulated assets, loans, and liquidity pools :contentReference[oaicite:10]{index=10};
• **On-chain Credit Scoring**: Under development for calculating reputation using verified on-chain data—potentially reducing over-collateralization in lending :contentReference[oaicite:11]{index=11}.

This framework enables institutions and DeFi platforms to collaborate in a permissioned-style environment: whitelisted users can access compliant products while malicious actors may be blacklisted for risk management :contentReference[oaicite:12]{index=12}.

Shyft has seen strong adoption: over 2.5 B SHFT tokens issued, support for 40+ exchanges and VASPs, and more than 2.5 M daily transactions as of mid‑2025 :contentReference[oaicite:13]{index=13}. As an identity and compliance layer, Shyft bridges the gap between regulated institutions and the DeFi ecosystem.

Integration with Cryptoworth

Shyft’s integration with Cryptoworth automates comprehensive subledger insights for identity-driven DeFi use cases:

• On-chain identity attestations and credential events;
• SHFT token issuance and bridge transactions;
• Whitelist & blacklist participation logs;
• Credit-score issuance (when available).

Cryptoworth converts these into structured journal entries—tracking cost basis, income (from credential issuance or rewards), and asset movements—exportable to GL systems like QuickBooks, NetSuite, or ERPs, ensuring **audit‑ready clarity** for institutional-led DeFi workflows.

Learn More

• Shyft Network Official Website
• Shyft Compliant DeFi Use Cases
• Shyft Whitepaper & Veriscope Protocol

Frequently Asked Questions

How does Shyft ensure both privacy and compliance?

Shyft follows a **strict opt‑in consent framework**: users explicitly authorize sharing of only necessary identity attributes. Encrypted credential attestations are recorded on-chain using bridge-watcher protocols—detected and captured by Cryptoworth. These attestations become subledger events, secured with timestamp, purpose, and consent metadata. See how this structure supports regulated workflows in our Crypto Accounting Software page.

Can Cryptoworth track whitelist, blacklist, and credential events?

Yes—Cryptoworth ingests validator event logs including which addresses were whitelisted, blacklisted, and when credentials were issued or updated. It categorizes these as compliance events, credit adjudications, or identity-token issuances—populating journal entries and audit logs suitable for GL reconciliation. Learn more in our Crypto Audit guide.

Is identity-based DeFi fully supported by Cryptoworth?

Absolutely. When Shyft enables compliant asset or pool creation, those contract deployments are captured and classified. Similarly, credit scoring outputs—once live—will flow through Cryptoworth as financial income or provisioning entries. These events are exportable to ERP or NetSuite systems, fitting into our Accounts Receivable Automation Software solution.