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Blockchain Technology Could Make your Passwords Obsolete

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Privacy, and by association passwords, has never been more important. In the internet age, people are more concerned than ever about how others use their data.

Most days the news mentions some form of data breach. Everyone spends so much of their time online that it is important to take the required steps to safeguard their sensitive data. A lot of people use sub-par accessing information that are easily hacked.

The majority of breaches occur due to a human weakness. The password might be very guessable. Studies show that 10,000 of the most used passwords will access 98% of all accounts.

Furthermore, most people know how to make there passwords secure, but fail to do so.

They can’t remember complicated passwords so they keep them simple as it is a lot easier to do. The fear of not knowing is a password seems to be greater than the fear of a hack.

Notable data breaches

Password protection systems have improved immensely over the years. These days computers use a process for hashing called salting. However, the use of weak passwords undermines these strong underlying systems. This means people remain vulnerable to hacks.

For example, in 2011 hacker stole 77 million passwords on the PlayStation Network. A breach compromised 400,000 Yahoo email addresses in 2012. There were numerous hacks of Apple iCloud storage services which saw the leak of celebrity photos. The list goes on.

Cryptocurrency and Your Passwords

The cryptocurrency sector didn’t take long to utilize logins that doesn’t require passwords. The Trezor Connect cold storage wallet was one of the first of these. They allowed a user to log in just by plugging in their hardware wallet. Now people can use Secure Quick Reliable Login (SQLR) for the same purpose. This combines public key cryptography and QR codes for logins without passcodes.

These cases show how passwords and usernames are no longer vital for having secure relationships online.

Moreover, there are numerous startups in the space looking to offer a solution to this problem. REMME aim to make passwords obsolete in the near future. This eliminates human weakness from authentication. Therefore, most hacks will never occur.

Their solution is to provide every device with a specific SSL certificate. This is managed through a blockchain so a fake document won’t work. There will be no central server the hacker can target. Therefore, there are no weak points in the system.



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