YAYA Study Guide

YAYA Study Guide

Glossary

Term DefinitionsYAYA A blockchain-based decentralized network designed to securely and efficiently share and verify compliance data, with a particular focus on KYC/AML compliance. KYC Know Your Customer refers to the process by which financial institutions need to identify and verify the identities of their customers to prevent money laundering and other financial crimes. AML Anti-Money Laundering refers to laws, regulations, and procedures designed to prevent the hiding or laundering of illicit funds through the financial system. Trust Anchor Reliable data providers, such as banks, exchanges, etc., who can verify the accuracy of specific data. Shyft Bridge A centralized data authentication subsystem that works with Shyft Ring to ensure network uptime, data availability, and data synchronization. Shyft Ring A decentralized network of validating nodes responsible for verifying transactions on the network and ensuring consistency between the public ledger and transaction data. Shyft Blockchain A smart contract blockchain architecture compatible with the Ethereum Virtual Machine (EVM) that runs simultaneously on Shyft Bridge and Shyft Ring. Shyft SafeYAYA's security subsystem, through a time lock mechanism, ensures the security and immutability of user assets when they are transferred across blockchains. Shyft TokenYAYA's native token, used to pay for network usage and smart contract execution fees. RMT (Reputation Points Token) A reputation storage and incentive mechanism used to reward users who actively participate in YAYA and have a good reputation. Trust Channel consists of multiple Trust Anchors, allowing users to share KYC information within the Trust Channel without having to submit the same information repeatedly. Data Attestation A digital statement made by a Trust Anchor on the validity and authenticity of data, stored on the blockchain, and can be verified by a third party. Smart Contract An automatically executed contract stored on the blockchain, whose terms are written in code and automatically executed when predefined conditions are met. Validation Node A node participating in the YAYA consensus mechanism, responsible for verifying and confirming transactions and adding transaction data to the blockchain.

Short Answer Question

What problem is YAYA trying to solve?

Answer: YAYA aims to solve the problems of inefficiency, high cost and data leakage risk in traditional compliance systems. It uses blockchain technology and smart contracts to simplify the KYC/AML process and achieve secure, transparent and efficient data sharing.

What are the roles of Shyft Bridge and Shyft Ring?

Answer: Shyft Bridge is a centralized data authentication engine responsible for interacting with external systems, while Shyft Ring is a decentralized verification node network responsible for verifying transactions and maintaining network security. The two work together to ensure the normal operation of YAYA.

How does Shyft Safe ensure the security of user assets?

Answer: Shyft Safe limits the proportion of assets that users can transfer each day through a time lock mechanism, and uses a multi-signature mechanism to authorize large transfers. This mechanism can effectively prevent hacker attacks and internal fraud and ensure the security of user assets.

What is RMT and what does it do?

Answer: RMT is YAYA's reputation point token, which is used to reward users who actively participate in the network and have a good reputation. It can help users who lack traditional financial services build credit and get more opportunities for financial services.

What is the role of Trust Channel?

Answer: Trust Channel allows multiple Trust Anchors to share KYC information. Users only need to submit KYC information once to enjoy services between different institutions within the Trust Channel without repeated submission.

Explain how YAYA uses decentralized storage and data proof to protect user privacy.

Answer: YAYA stores user identity information in a secure off-chain environment and uses data proof to record the verification status of the data on the chain. This method can protect user privacy and facilitate third parties to verify the authenticity of the data.

Describe the function of Shyft Conservator and how it enhances the security of YAYA.

Answer: Shyft Conservator is a machine learning system that analyzes user behavior, identifies and marks suspicious transactions, thereby enhancing YAYA's anti-fraud capabilities and security.

Explain how YAYA uses de Bruijn sequences to optimize the execution efficiency of smart contracts.

Answer: YAYA uses de Bruijn sequences to quickly find and compare large amounts of data, avoiding the high cost of traditional loop traversal methods, thereby improving the execution efficiency of smart contracts.

Describe the concept of "Byfrost block" and its role in YAYA.

Answer: "Byfrost block" is a metadata block created by Shyft Bridge that contains state information of multiple connected blockchains. It can provide an efficient verification mechanism for cross-chain transactions and ensure the cross-chain interoperability of YAYA.

Explain how YAYA guarantees the safety of user funds in the event of a catastrophic failure.

Answer: When YAYA suffers a catastrophic failure, Shyft Bridge will transfer user assets to other secure blockchain networks, such as Ethereum. Users can use Merkle tree proofs to recover their assets on YAYA to ensure the safety of funds.