Public Blockchain protocol Shyft Network is next to join the Cudos network as a partner. Shyft Network is a public blockchain protocol designed to aggregate, embed trust on public and private ecosystems, and permissioned and permissionless networks.
Latest to join the Cudos network, Shyft Network is one of the latest technologies Cudos is adding to its network. It is a KYC and financial compliance framework for DeFi assets, which falls under the Digital Identity and Compliant DeFi categories of the digital space.
The Shyft Network and its fast-expanding network of financially regulated and compliant digital asset issuers is ideally suited for the upcoming Cudos Network Public Testnet. Cudos’ VP of Sales has this to share on the matter:
“In Shyft Network, we have a partner who will bring enormous value to our network and DeFi ecosystem. Our vision to build a new cloud, a decentralized one, stretches beyond our own engineering efforts. Security and compliance are essential for bringing mainstream adoption, and like traditional centralized cloud platforms that rule the market today, we must have the tools to empower those developing on Cudos. Shyft Network services are an important addition to that toolbox ” — Yves Messy, Head of Blockchain, Cudos
Issuers of digital assets such as Stablecoins, NFTs, Synthetic or DeFi assets, will be able to benefit from the Shyft Network’s set of digital identity and Virtual Asset Providers Rule compliance solutions.
In this way, assets issued on the Cudos Network’s Proof of Stake Blockchain will benefit from a superior level of compliance and identifiability than is common in the blockchain space today, making a larger set of regulated DeFi solutions possible as a result.
“When we set out to build the Shyft Network, we understood that cooperation and interoperability were essential for a globally distributed ecosystem of opt-in regulatory compliant networks. We are very excited to partner with the Cudos Network, to bring our trust aggregation frameworks and enable a broader ecosystem of DeFi service providers,” — Juan Aja Aguinaco, Co-Founder of Shyft Network.
The Cudos team welcomes with open arms the onset of Shyft to its network and couldn’t be prouder to have them part of the wider Cudos Vision. The partnership is symbolic of what is to be a strong future for both parties in an exciting and exponentially growing space.
Shyft Network is a public blockchain protocol designed to aggregate and embed trust, validation and discoverability into data stored on public and private ecosystems, and permissioned and permissionless networks. By facilitating bridging across siloed datasets, Shyft allows for layering of context on top of data, ultimately turning raw data into meaningful information.
For more information on the Shyft Network, please visit our website: https://www.shyft.network/
The Cudos Network is a layer 1 blockchain and layer 2 computation and oracle network being designed to ensure decentralized, permissionless access to high-performance computing at scale and enable scaling of computing resources to 100,000’s of nodes. Once bridged onto Ethereum, Algorand, Polkadot, and Cosmos, Cudos will enable scalable compute and Layer 2 Oracles on all of the bridged blockchains.