The ShareRing platform contains three parts:
- The ShareLedger Blockchain
- The ShareRing Backend
- The ShareRing Application
We built the ShareLedger blockchain on Tendermint and CosmosSDK, with the application blockchain interface (ABCI) for communication between the two components. The consensus algorithm is Proof-of-Stake (PoS), and users can participate in the consensus mechanism by staking SHR and receiving staking rewards upon a validated block. ShareLedger provides digital identity verification. ShareLedger communicates to the ShareRing backend and application via the TendermintRPC and the Cosmos RESTFUL API interfaces.
ShareLedger has also integrated the CosmWASM smart contracts module that allows smart contracts to be executed on ShareLedger to perform various functions, such as NFT minting, DeFi contracts, soulbond tokens, etc.
ShareRing Software Development Kit
ShareRing provides a set of SDKs allowing third-party developers to interact with and build on the ShareLedger blockchain. The three available SDKs are Signup, Login and Vault. The signup SDK is used to create a new ShareRing account, and the login SDK is used for logging in to the ShareRing platform. The signup and login SDK support the Vault SDK, which interacts with the ShareLedger. The Vault SDK is used to perform functions related to identity, such as:
- Manage identity documents
- Import new identity documents
- Optical character recognition
- Face match
- NFC reader for passports
The Vault SDK is currently the SDK with the most functionality. These will soon be split into components, such as identity, wallet, and document identity, to separate use cases.
The ShareRing backend takes API calls from the ShareRing application. The backend uses an authentication service for incoming requests. The authentication service takes a document and uses the app backend to query the blockchain. The blockchain will verify the identity of the individual through ShareLedger. The backend supplies various services that provide functionality for the ShareRing platform, such as:
Staking - puts your SHR currency as collateral to create new blocks on the blockchain. You receive cryptographic rewards when you've been able to validate.
Wallet - Stores blockchain currency
Firebase Cloud Messaging - Cross-platform messaging solution
The ShareRing application lets users upload and store digital identity documents on their devices. The user owns these documents; third parties can validate digital identity information through ShareLedger without exposing the entire document. The verification is done through the SDK and serviced through ShareRing Link.
ShareRing Link represents specific identity queries of an individual in QR code format. The query could be a simple over-18 age check or a more complex one that chains multiple queries like age, address, passport number, etc. Each query can be a QR code or direct request via the ShareRing Vault SDK. This information is only queried and shared with the users consent. The response from the API will be a verifiable credential.