As we progress more and more in this century , we discover the need to be more security conscious of our data. Revolution is taking over in every aspect of our lifes , ranging from Fiat currency to Cryptocurrency , Artificial Intelligence , just name it. With all this in play , we may and may not get cut up with the insecurity that comes with them.
This brings about the question ARE WE SECURE ?
All these innovations needs us to sign up with our details , even Identity cards which makes us vulnerable to attacks by hackers. These vulnerability has even maneuver it way into our financial sector . Are we secure if we wake up one day and find out all our hard earned financial assets are gone ?
With all these been said , we need no soothsayer to tell us we need a new form of security to protect us from all the aforementioned exploits of breaches in our security. Allow me to introduce to you , the innovative solution to our safety ONLINE !
INTRODUCING HYDROGEN RAINDROP
Hydro Raindrop -Public Authentication Implemented On The Ethereum Blockchain!!!
The innovative technology is called Raindrop - a transaction performed through a smart contract that validates private system access publicly, which will complement existing private authentication methods. The innovative technology is intended to provide additional security for sensitive financial data that is increasingly at risk from hacking and breaches.
Hydrogen gives new and existing private systems means to integrate and leverage the immutable & transparent dynamics of a public blockchain to enhance application and document security, identity management, transactions, and artificial intelligence.
Hydrogen is an innovative 2 factor authentication (2Fa) on a blockchain.
The rise of the data age has brought with it a vulnerability, and this needs serious attention, particularly in financial services. Financial platforms are often gateways to large quantities of private and sensitive data such as government ID numbers, account credentials, and transaction histories. Therefore, if there is a breach in the system it is always catastrophic.
Hydro authentication transaction is unique and virtually impossible to have occurred by chance - that is why we call them Raindrops. Financial services platforms commonly utilize micro-deposit verification to validate client accounts , the platform makes small
deposits of random amounts into a user's claimed bank accounts. Now the user will then have to deposit exact amount back to prove ownership of the account which afterwards will be validated.
Raindrop-based verification with Hydro is simple , rather than sending the user an amount and having it relayed back, hydro will define a transaction and the user must execute it from a known wallet. The user can only validate the transaction by accessing the wallet .
Both the system and the accessor of the wallet can monitor authorization attempts on an immutable public ledger. The transaction is decoupled from the basic system operations, occurs on a distributed network, and depends upon the ownership of private keys . Thereby , serving as a means of validation .
The authentication process is classified into three stages
Initialization
Raindrop
Validation
Hydrogen RAINDROP exists to fix a lot of the issues with current authentication frameworks, including poor security, centralization and recovery .
-Mike Kane
Hydogen is here to prove that Public blockchains can add value to financial services.
The Hydro Raindrop can enhance provide adequate security for private systems.
There are immediate applications of the Hydro Raindrop within the Hydrogen API platform on the blockchain.
The Hydro Raindrop will be made available to the world developer community as open source software, to allow developers to integrate the Hydro Raindrop with any REST API.
CONCLUSION
The word security is an illusion will be countered by HYDROGEN RAINDROP , thereby reducing the leaks and breaches in datas and provide adequate security for financial assets across the blockchain to financial institute that implements it.
For more information visit the links below :
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