HYPERSIGN: A secured substitute to OTP
Ever since everyone had access to the Internet, sharing data has been inevitable. We all have different reasons for surfing the Internet and what we derive from it, but the basics of it is to make life a lot easier. In doing this, we share data either consciously or unconsciously. It was until recent years people got to understand that data is life and it should be private, there is more attention and willingness towards data (what to share and who has access to it)
When it comes to logins, having to verify oneself before taking advantage of the website, there is digital data we give out. Passwords are strings of characters(number, alphabet, symbols) that are used to verify the identity of a user during the authentication process; it will be hard to interact with websites without using the right password. And these passwords can be hacked, which brings about 2FA to curb these hacks.
2FA simply means Two-Factor Authentication, and it is a security system that requires two separate, distinct forms of identification in order to gain access to a website. On almost every website where money and other sensitive data are, they advise users to enable 2FA because it is better than not enabling it. Although this still does not stop hackers, it makes it harder for them to pull it through. An example of 2FA that I will be dwelling on is OTP.
OTP (one-time password), which can also be called one-time authorisation code (OTAC), is a password that is valid for only one login session or transaction, on a computer system or other digital device. It is considered as secured but it is not secured in the real sense because it is based on SMS channels, and these network providers can be compromised. The concept behind OTP is to send a pin through text that can only be used once, and this text is to the phone number provided by the user.
The problem identified
Over time, it has been discovered that these phone numbers are sometimes compromised, and another third party can have access to them. Since phone numbers have become part of personal information, users are no longer reluctant to give it out. Apart from this, there are also possibilities of sim swap attacks, making even OTP sharable. All this gave rise to questions on if this can be improved on
Solution offered by hypersign
Hypersign is a project created to tackle losing digital data to logins and authorizations, also eliminating usernames & passwords among other use-cases. Users deserve to have control over their digital data and should have the right to choose those that should have them.
There is no need for OTP or even usernames and passwords with Hypersign, only the signature is needed.
How it works:
1. Users, Service Providers and Identity Providers register the Hypersign Network
2. Users, Service Providers and Identity Providers register the Hypersign Network
3. User requests credentials from Identity Provider, Identity Provider verifies the user data and issues a signed credential
4. The Service Provider verifies signature of user and Identity Provider on Hypersign Network.
Get connected to Hypersign.
Twitter – https://twitter.com/hypersignchain
Telegram Announcement - https://t.me/hypersign_ann
Telegram Community - https://t.me/hypersignchain