Although Shift, which uses SHIFT as its ticker symbol, was developed earlier than most of the other altcoins, it is rarely known. It is an open-source blockchain application platform. This means you can use it to build decentralized new apps. Coming with an inbuilt ‘killer dApp’, SHIFT is regarded as the first next-generation blockchain. Furthermore, this blockchain has a technology superior to many of the other blockchains such as Ethereum and Bitcoin. Shift will be used in the development of new apps that will be adopted by masses.
The New Web Revolution
When websites close, they take with them independent writers’ data. Shift and Phantom allow for the storage of user content in a decentralized fashion. This will enable users to always retain access.
Shift utility token will be used in the decentralized system to allow participation and give benefits to users. The token can be used to secure storage on the Phantom dApp or even to pay for other services. Those who participate in the voting process will be able to benefit, thanks to the use of Proof-of-Stake consensus algorithm on the system.
Net neutrality is a major challenge as the current system enables the providers to slow connectivity or engage in other activities that limit the access to some services. Given that data will not be centralized under Phantom, it will now be possible to circumvent the impacts of such behaviors.
Shift Crypto has been designed with the aim of disrupting the web-hosting sector. The firm has already developed a decentralized app called Phantom to host websites. Unlike the normal way websites are hosted, Shift uses Shift IPFS. The company relies on the ‘killer dApp’ and is optimistic that it will create an opportunity for businesses to succeed in the current competitive market.
How Shift Works
Data storage will not be an issue for those who create dApp using the Shift script on this platform. This is because they will access the IPFS cluster. The company has created a P2P hypermedia distribution protocol, which is an interplanetary file system that will give accessibility to this storage.
Shift has created a flagship dApp named Phantom. The dApp works as a user interface for file management. Moreover, the users will be able to host and support its websites using the dApp.
Inside the main Shift blockchain will be Phantom’s own chain. This will enable Phantom to act independently although it is part of the main blockchain. This means it will not share rules and transactions with the Shift. This feature will enable each project to benefit from the capability of blockchain while maintaining its own qualities.
Despite the Crypto being around since 2016, the whitepaper was only released at the beginning of this year. The Crypto has been developed mainly for dApp developers. If you are a web designer, Shift could be the best decision for you. The company promises to enable users to create their own “executioner dApp” which will be of great benefit for designers.