2.1 MFA and Blockchain
Last updated
Last updated
Authentication is the process of verifying the identity of a user or system before granting access to a resource, service, or application. It is a foundational component of most security systems, ensuring that only authorized users can interact with protected systems.
The standard method of authentication is using combo of Username and Password
Process:
The user enters their username and password.
The system checks the entered credentials against stored data (often stored in a hashed format to ensure security).
If the credentials match, access is granted; otherwise, access is denied.
Security Considerations:
Weaknesses: Passwords can be guessed, stolen (phishing attacks), or exposed in data breaches.
Improvements: Stronger passwords, password hashing algorithms, and salting techniques can enhance security.
Mechanism: Adds an extra layer of security by requiring the user to present two distinct forms of authentication:
Something the user knows (like a password).
Something the user has (like a phone, hardware token, or an authentication app that generates one-time passcodes).
Process:
After entering a password, the user must also provide a code sent via SMS or generated by an authentication app (e.g., Google Authenticator, Authy).
The system checks if the provided second factor matches what is expected before granting access.
Security Considerations:
Benefits: Reduces the likelihood of unauthorized access because an attacker would need both the password and the second factor (e.g., the user's phone).
Weaknesses: 2FA can still be compromised if the second factor is intercepted, for example, through SIM swapping or phishing.
Blockchain-based MFA systems aim to overcome limitations of traditional MFA by decentralizing authentication data and improving privacy.
1. Decentralized MFA
Self-Sovereign Identity (SSI): Users store their identity credentials securely in a blockchain or decentralized storage, eliminating reliance on centralized authentication servers.
Smart Contracts: Automate the verification of multiple authentication factors within the blockchain.
2. Blockchain MFA Features
Tamper-Proof Authentication Logs: Transactions or login attempts can be recorded on the blockchain for auditability.
Tokenized Authentication: Blockchain can issue unique, time-sensitive tokens for MFA.
3. Benefits of Blockchain-Integrated MFA
Enhanced privacy: User data is encrypted and decentralized.
Improved resilience: No single point of failure.
Simplified cross-platform authentication: Works across different applications using the same credentials.
Shield Protocol is a blockchain-based security platform that enhances user authentication by integrating decentralized MFA systems. It aims to provide a higher level of security for blockchain and Web3 applications.
Key Features
Decentralized Authentication
Shield Protocol eliminates reliance on centralized systems for managing authentication credentials.
4-Layer Security
Provides four layers of authentication for secure access:
PIN: A primary access code.
Biometric Authentication: Fingerprint or face recognition.
Phrase Authentication: Recovery or seed phrases.
Blockchain Authentication: Uses decentralized identity or tokens for verification.
Mobile-Based MFA
Shield Protocol supports blockchain-based MFA on mobile devices through an app, making it accessible and user-friendly.
Cross-Chain Compatibility
Supports multiple blockchains, enabling seamless integration across different platforms and networks.
Key Management
Allows users to securely store and retrieve private keys, ensuring a balance between security and convenience.
