BitPay Seeks to Decentralize Digital Identification with BitAuth
Georgia-based bitcoin merchant processor BitPay has launched a project that leverages bitcoin technology to facilitate a decentralized authentication system. Called BitAuth, the system uses cryptographic signatures in place of server-side password storage. This solves a common security problem for IT administrators, because a breach can potentially leak customer authentication information. Bitcoin core developer and BitPay employee Jeff Garzik conceived some of the concepts that made BitAuth a reality. Garzik told CoinDesk: "Replacing passwords with digital signatures is not a very....
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Decentralized Authentication. Chew on that for a bit. But why is it needed? Here’s what Bitpay said about this: But how? How is a decentralized authentication system possible? Inspired by the same elliptic-curve cryptography as Bitcoin, Bitpay proposes to use SIN, or system identification number. Originally proposed by Jeff Garzik, Bitcoin Core Developer, SIN is intended to be a fully decentralized, anonymous, secure identity. SIN also has the following features: On top of these, there is the chance for two SIN’s, type-1 and type-2.
Atlanta, Georgia-based BitPay today introduced a new password-less means of authentication dubbed BitAuth - designed to reduce (or even eliminate) the storage of passwords on server-side, and thus decreasing the impact of a compromised server. "We've given long and careful thought to how best to protect the security of our customers' data, of especially critical importance when dealing with financial information. Existing authentication schemes that you might be familiar with include username and password, client-side SSL certificates, or even shared secrets - in the end of our review, we....
Some news coming this evening from the BitPay camp. The Atlanta-based bitcoin processing company announced Thursday a new cryptographically-secure API that makes use of previously-announced authentication protocol BitAuth. Without getting to specific (largely due to the fact that I am not a programmer/developer), BitPay's new API offers a number of features that certainly sound like they are useful. This includes the implementation of refunds to any bitcoin address (as opposed to requiring a BitPay account). here's what BitPay has to say on the feature: [The refund API] will allow all of....
BitPay has launched 'Labs', a discussion forum for all of the firm's open-source bitcoin projects. The bitcoin payment processor announced the news on its blog, saying that it believes that reliable, open-source bitcoin infrastructure is crucial to widespread adoption. The post described BitPay Labs as the perfect place to ask questions, get feedback, and discuss ideas for improving on open-source bitcoin projects. It continued to explain that "each project has a Lab, and project maintainers are actively working with the community to answer questions, find solutions, and guide....
The Cirus Identification Framework is designed to address the many flaws of current approaches to online identification, data management, data sharing, ad targeting, and data monetization. Here we discuss these flaws and how the Cirus Identification Network overcomes them. The Evolution of Online Data Tracking Systems The advertising industry has long sought to create a […]