SHIFTBTC is looking good coming out of the new year's market correction. Stoch RSI and MACD are bullish. Short term trend lines are showing a possible breakout on the 1 and 4 hr asymmetrical triangle as the long term trends lines are showing fast, albeit volatile growth. SHIFT maintained its previous support levels throughout this downward trend, while only just managing to break that resistance last month. Shift is up about 420% over the past 3 months, most of that growth occurring over the last 8 weeks. While the crypto market will now start to become a bit more saturated as it continues to grows, barriers to entry rise, and competition consolidates, the charts are looking promising for Shift while it sits at at small mkt cap of ~$70M.
Fundamentals will play a key part for Shift as well considering their background and use-case. It's a short term play, but a long-term hodl as well for sure. See below for more. BTFD!
SHIFT
Shift began in August 2015 as the first Ethereum fork ever created (note their split logo variant). A main reason for the fork was their differences with Buterin's Proof of Stake consensus algorithim. Shift's vision was to create a dApp platform more secure than Ethereum with a stronger network through better incentivization for node operators using a consensus algorithim known as Proof of Delegates which combines elements taken from the Proof of Work (PoW), Proof of Stake (PoS), and Delegated Proof of Stake (DPoS) consensus algorithms. There was no ICO. Just the devs’ passion for pushing the technology of decentralization to new limits.
October 2016, over one year later: Ethereum’s consensus protocol was susceptible to attacks on lower hashrate networks, such that private chain miners could obtain too much network power. Lisk’s delegated Proof-of-Stake method offered an excellent solution, and the Lisk codebase was very promising – but it was not ready. That didn’t stop Shift: the project was migrated as the first Lisk fork ever created, with a forging mainnet that was operational even before the original Lisk platform.
By November 2017, as is the nature of a decentralized grassroots collaboration, team members had come and gone. But Shift is stronger than ever. The torch is now carried by a pair of lead developers, the chief of which has been with the project since 2016. Outpacing massive ICO-funded projects, Shift has become a market Leader through the team’s passion and cumulative first-mover advantages: the first ever dApp to successfully decentralize web hosting, called Phantom, is testnet operational. You can store files using IPFS right now, connect IPFS hashes to top level domains (TLDs), and before 2018, you will also be able to host dynamic websites and content.
The Shift Team achieved this thanks to also creating the first ever transparent layer to dynamically translate hashes to DNS, called Jenga. This is critical to mass adoption; unlike platforms such as Maidsafe which require the use of subdomain web addresses, a decentralized website hosted through Shift and Phantom can use a Regular “www” URL without requiring the user to install third-party extensions or browser plugins. Thus Shift for the first time ever makes the power and potential of IPFS accessible to anyone: because Jenga continuously monitors all nodes within the cluster to populate DNS records, the resulting setup is nearly impossible to attack by DDoS, and one domain can point to anywhere from ten to one thousand servers that serve your files.
Shift’s new website, which launched NYE 2017, is now the first working proof of an uncensorable internet. No other project, to my knowledge, has come this far.
Numbers: via coincodex.com/crypto/shift/
Today's 24h High: 6.29 | 24h Low: 5.30
24h Vol: 429,391 | Mkt Cap: 68.80M
Supply: 11.66M
References:
dWeb: www.shiftnrg.org/
Explorer: explorer.shiftnrg.org/
Docs: shiftnrg.nl/
/r/ShiftNrg
T.me/@shiftnrg
Fundamentals will play a key part for Shift as well considering their background and use-case. It's a short term play, but a long-term hodl as well for sure. See below for more. BTFD!
SHIFT
Shift began in August 2015 as the first Ethereum fork ever created (note their split logo variant). A main reason for the fork was their differences with Buterin's Proof of Stake consensus algorithim. Shift's vision was to create a dApp platform more secure than Ethereum with a stronger network through better incentivization for node operators using a consensus algorithim known as Proof of Delegates which combines elements taken from the Proof of Work (PoW), Proof of Stake (PoS), and Delegated Proof of Stake (DPoS) consensus algorithms. There was no ICO. Just the devs’ passion for pushing the technology of decentralization to new limits.
October 2016, over one year later: Ethereum’s consensus protocol was susceptible to attacks on lower hashrate networks, such that private chain miners could obtain too much network power. Lisk’s delegated Proof-of-Stake method offered an excellent solution, and the Lisk codebase was very promising – but it was not ready. That didn’t stop Shift: the project was migrated as the first Lisk fork ever created, with a forging mainnet that was operational even before the original Lisk platform.
By November 2017, as is the nature of a decentralized grassroots collaboration, team members had come and gone. But Shift is stronger than ever. The torch is now carried by a pair of lead developers, the chief of which has been with the project since 2016. Outpacing massive ICO-funded projects, Shift has become a market Leader through the team’s passion and cumulative first-mover advantages: the first ever dApp to successfully decentralize web hosting, called Phantom, is testnet operational. You can store files using IPFS right now, connect IPFS hashes to top level domains (TLDs), and before 2018, you will also be able to host dynamic websites and content.
The Shift Team achieved this thanks to also creating the first ever transparent layer to dynamically translate hashes to DNS, called Jenga. This is critical to mass adoption; unlike platforms such as Maidsafe which require the use of subdomain web addresses, a decentralized website hosted through Shift and Phantom can use a Regular “www” URL without requiring the user to install third-party extensions or browser plugins. Thus Shift for the first time ever makes the power and potential of IPFS accessible to anyone: because Jenga continuously monitors all nodes within the cluster to populate DNS records, the resulting setup is nearly impossible to attack by DDoS, and one domain can point to anywhere from ten to one thousand servers that serve your files.
Shift’s new website, which launched NYE 2017, is now the first working proof of an uncensorable internet. No other project, to my knowledge, has come this far.
Numbers: via coincodex.com/crypto/shift/
Today's 24h High: 6.29 | 24h Low: 5.30
24h Vol: 429,391 | Mkt Cap: 68.80M
Supply: 11.66M
References:
dWeb: www.shiftnrg.org/
Explorer: explorer.shiftnrg.org/
Docs: shiftnrg.nl/
/r/ShiftNrg
T.me/@shiftnrg