Shift SHIFT to Paxos Standard PAX Exchange

Crypto Pair Details: SHIFT to PAX

Shift SHIFT

Shift is cryptocurrency that was launched in August 2015 based on Ethereum by a group of cryptocurrency enthusiast. Shift Storage Cluster - The default state of the IPFS infrastructure is represented as a globally shared network. This can lead to problems when it comes to verifying data integrity, availability, and custom implementation details such as earning token rewards for running a storage node. For this reason, Shift runs a private swarm. The storage nodes use a custom swarm key to ensure that they can only talk to other nodes using the same key. This also prevents Shift nodes being used to host and deliver content that was added outside of the Shift network which should improve reliability and performance. In order to store data permanently, IPFS implements a concept called pinning. Pinning content means that the content will be available permanently (or until it is unpinned). By default the pinning only applies to a single peer that it is pinned to, but that means if that machine goes offline, the content can be lost. The way around this is by using an IPFS cluster: a subnet (or private net) running the IPFS daemon, containing only Shift peers. The Shift cluster runs as a wrapper around the IPFS daemon. It allows the end user to connect a group of IPFS nodes together so that content can be stored and replicated within the group. The cluster elects a leader to be in charge of keeping track of which content is available in which locations. Shift is meant to disrupt the web hosting industry. The company has created Phantom which is a decentralized app to host websites. It does so through the Shift IPFS rather than the normal way a website is hosted. By using this ‘killer dApp’, the company is of the opinion that a business gets a chance of succeeding in the current competitive world. Because Shift is an open-source platform, developers of dApps are free to use the company’s script. This is made even easier by the fact that Shift Company has used Javascript which is popular language among dApp developers. According to the company, every dApp created using the Shift script can access the IPFS cluster to store data. This will be made possible by the use of a P2P hypermedia distribution protocol, an interplanetary file system which the company created. Even though the Shift has been around since 2015, the team only released the whitepaper on March the 5th 2018. The whitepaper is a bit technical but well detailed. Remember that the crypto is built with dApps developers in mind. It might not be a very good investment opportunity for a person who doesn’t understand dApps and Javascript. But at the end of the day, it is a volatile crypto which is one of the most important features to look for as a trader.

Paxos Standard PAX

Paxos Standard (PAX) was created by Paxos, a financial technology company on a mission to modernize finance by mobilizing assets at the speed of the internet. Paxos was the first virtual currency company to receive a charter from the New York State Department of Financial Services. As a chartered limited purpose trust company with fiduciary powers under the Banking Law, Paxos is able to offer regulated services in the crypto-asset and virtual commodities space. The Paxos team comes from a wide variety of backgrounds with a diverse array of experiences ranging from Wall Street to Silicon Valley. It’s led by CEO and co-founder Charles Cascarilla, who has spent his career as a customer, analyst, investor and now creator of financial technology. Paxos describes itself as “the first regulated Trust company with blockchain expertise”, and it is using that expertise to create a modern settlement solution that can eliminate risk and simplify settlements. What many people may not know about Paxos is that it was actually founded in 2012 as Paxos Trust Company, and that for most of its life it ran the cryptocurrency exchange itBit, which is still operates. The creation of Paxos was a pivot from an exchange platform to a company focused on creating a modern settlement platform using blockchain technology. Paxos has become the most widely adopted cryptocurrency in the fastest time frame, with support from over 20 exchanges and OTC desks in the first five weeks of its existence. It’s been picked up and listed by six of the top ten cryptocurrency exchanges, Binance, OKEx, Gate.io, ZB, KuCoin and DigiFinex. These exchanges are offering PAX as an alternative to the controversial Tether. Unlike the controversy surrounding the people who control Tether, there is no such obscurity when it comes to the people behind Paxos. The CEO and co-founder is Charles Cascarilla. He has over 15 years in financial services and has co-founded Cedar Hill asset management back in 2005. He has also worked and Bank of America and Goldman Sachs prior to that. The Paxos Standard (PAX) is the first digital asset to be issued by a financial institution and to be fully secured by the U.S. dollar. While other similar stablecoins have existed, there has been no proof of full U.S. dollar reserves, nor have these earlier assets been issued by a financial institution. The Paxos team has been fairly clear in declaring the different base that PAX is working from.

SOURCE: COINGECKO

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