MAXIMUM SECURITY GUARANTEED BY HYDROGEN

Security is needed in our everyday life. It can be needed in different forms. But sometimes individuals today pay little or no attention to the security of their day to day activities but when it comes to financial assets, they become very demanding for more and more security.

Hacks, breaches and stealing of data is no news to us. There are always headlines about them on the news and the papers. The innovation of the Internet led to the rise of data age. And this rise in the data age also brought about a rise in the vulnerability of data. For the financial service providers, this is bad news.

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THE PROBLEM

Security of data is getting more and more important due to hacks and breaches happening in all parts of the world. Our data online is not safe enough.

Usernames and passwords today are not safe enough. Including private keys. You could easily be robbed off all your financial assets simply by clicking a phshing site. All these has shown that we need an extra layer of security to be safe online.

INTRODUCING HYDROGEN RAINDROP

Since the problem is extra security, Raindrop , is the solution. It is the first phase of the development of the hydrogen ecosystem.
Raindrop is a blockchain-based authentication service built on the hydrogen blockchain.
Using the blockchain, raindrop will create an authentication service that offers a clear-cut, immutable and globally viewable layer of security that verifies an access is coming from an authorised source to help prevent hacks, data theft and breaches.

It is simply a two factor authentication (2FA) service built on the blockchain.

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We have good 2FA services available to all users. But they still have some limitations and this does not guarantee maximum security in financial services. There are some limitations they face and these include:

• Centralization
• Backup and recovery
• Not Gloabally accessible
• Etcetera.

Raindrop will solve these major drawbacks.

Financial platforms are warehouses for large quantities of private data. Ranging from government ID numbers to as low as transaction histories. Yet, they are not free from these hacks and breaches and the results are catastrophic.

Most financial platforms commonly utilize the micro-deposit to validate their clients account. It involves the bank sending small deposits of random amounts to the authorised owner of an account; and for the bank to verify that the user actually owns the said account, he or she has to relay the amount back to the platform and if it is a match, it is then validated and then authorization is granted to the user.

Hydrogen Raindrop uses a similar methodology.

But, rather than sending a random amount and having the user relay the transaction back to the platform, validation is done like this:

1. A transaction is defined by the hydrogen blockchain.

which can be likened to the codes we receive when a 2FA enabled request is initiated(for existing 2FA services).

2 . And then, the user in question executes this transaction from a known wallet.

which can be likened to the inputting the code we receive in the dialogue box where it is required(for existing 2FA services).

Without access to the wallet in question, the transaction cant be validated. To access the wallet, you need its private key.

By using Raindrops, both the system and the accessor can monitor authorization
attempts on an unchangeable public ledger. This blockchain-based transaction is decoupled from the basic system operations, occurs on a distributed and uneditable network,
and depends fully upon the ownership of private keys.

This represents the extra layer of
security Raindrop offers.

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According to the co-founder and ceo of Hydrogen Platform, Mike Kane, “Hydrogen RAINDROP exists to fix a lot of the issues with current authentication frameworks, including poor security, centralization and recovery”.

• Talking about security, we have seen how it is demonstrated using the micro-deposit method but this time, all done using blockchain and smart contracts. This method will be difficult to breach even by the most skilled hacker as he does not have your private keys.

• In terms of centralization, Raindrop will be built on a blockchain and it shows that nobody will have consensus over it.

• In the case of recovery, in cases where a device goes missing , the hydro raindrop is encrypted with a seed regeneration feature. With this seed the authenticator can be recovered. Unlike the regular 2FA where no encrypted backups are created.

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CONCLUSION

Hydrogen Raindrop will revolutionise the financial service providers by utilitizing the blockchain technology. With Hydrogen’s Raindrop, you can be certain of a largely automated, high-security process that leaves an immutable paper trail whenever any unauthorized party tries to access your account. Raindrop can be easily integrated into financial platforms both new and existing ones and this will help increase transparency and strengthen the layers of security of our financial assets.

Send a request ot your banks, financial institutions etc where your financial assets are stored and ask them to integrate the raindrop immediately it is launched. So we can get full poof security of our financial assets.

For more information, visit the website here: https://www.hydrogenplatform.com
°Raindrop Whitepaper can be downloaded here
°Reddit