Shift coin is a native cryptocurrency of the shift blockchain platform created on the shift blockchain network platform whose transaction takes place from one peer to another without involvement by the government thus is being considered to be a decentralized asset.As a native coin of the shift blockchain, shift coin can be used to pay for transaction cost for sending shift coin from one smart contract address to another.owners of different Dapps can use the coin to upload their file of their Dapps on the shift blockchain network as well as to create and issue the token of their Dapp on the shift network.Since shift coin serves the function of a delegated proof of stake as well as proof of capacity, users can delegate their shift hard disk space by paying a fee of 1 shift after which the delegates will use the hard disk space to rent to users who will be in need of file cloud hosting after which they will be receiving reward based on the amount of space rented.
Shift coin transaction
Shift coin transaction takes place on the shift blockchain explorer based on block height and timestamp. Here is a view of the shift coin transaction;
To view how the transaction takes place on the shift blockchain, you can follow the link below;
From the shift white paper,there project seems to have been launched in 2018.From their white paper,they are trying to tell us that they are solving the problem of website censorship where their blockchain will be integrated to IPFS.
Founder of shift coin
No founder has been indicated from their white paper.
Process of creating SHIFT coin
Unlike cryptocurrencies like bitcoin and Ethereum which are released through the mining process using power supply and internet using the proof-of-work consensus, for SHIFT coin, that is not the case. Instead, shift coin was created to become a proof-of-capacity coin as well as delegated proof of stake coin.There are 101 delegates. Delegators upon paying a fee of 1 shift,they delegate their free hard disk computing space to the top 101 verified delegates.The delegates use the computing hard disk space to store and retrieve data of different cloud files when needed by consumers of those files thus in return they receive reward in form of shift coin.The reward is distributed to the delegators based on the amount of amount of hard disk computing space delegated. The more the hard disk computing space delegated the more the reward to be received.Here is how the shift staking process looks like;
If you would like to take part in delegating your computing hard disk space to a verified delegates so that you can receive reward,then you can join from below;
Maximum circulation of shift coin
There is nothing like maximum circulation of shift coin being indicated in their white paper.There is a faucet rewarding users with 5 shift. Currently,there is over 13.5 million coins of shift circulating.
shift coin Price
Currently, 1 shift coin is worth more than $0.11 and its price is expected to increase over the next period of time. Shift coin is being abbreviated as SHIFT.
Converting my Shift coin to other cryptocurrencies
To convert your shift coin to other cryptocurrencies such as bitcoin and Ethereum, you need to have a cryptocurrency exchange account. If you don't own one then you can follow the link to open a cryptocurrency exchange account for easy conversion of your shift coin to Bitcoin or Ethereum. Here is a list of exchanges where you can easily exchange your shift coin to your favorite cryptocurrencies;
Storing my shift coin
To store your shift coin, you need a shift coin wallet. You can either store online or offline. To store your shift coin online, you can use shift web wallet at https://wallet.shiftnrg.org/ . To securely store your shift coin offline from being stolen by hackers, you can use shift nano wallet.
Transferring my shift coin to other Users
If you want to transfer your shift coin to another user, the two of you must have trust in each other. The trust should be the shift coin address provided for by the receiver while the sender must have the shift coin balance in their account to send to the receiver. For the sender, a blank space to insert the receiver address and another blank space to insert the amount to send to the receiver is indicated. Here is how it looks like;
Knowing more About Shift coin
If you feel that you need to learn more about shift coin, then you can follow them on their site. Here is the link redirecting you to shift coin platform website
You can as well read their white paper to learn more about their idea from below
You can also join as a community member in any of their social media platform from below to follow the discussion made by other community members;
Now that you know, I think that it is time for you to start earning some shift coin by simply sharing your free hard disk computing space to store the data and retrieve it when its need arises. The more your hard disk computing space you share the more reward you receive.If you feel that we should also earn some shift coin for simply helping you know more about then here is our shift address;