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REMME CEO Alex Momot spoke with CCN recently about the chuck’s goal to eliminate the need for passwords and related security problems functioning something he calls a “digital passport” that operates on a blockchain.
Blockchain Tech Can Allow to pass Passwords Obsolete
Instead of the password/username architecture, each owner device is issued an SSL certificate. The certificate data is stored on the REMME blockchain and confirmed with that technology so that fake certificates cannot be reach-me-down. Hackers typically target authentication servers and password databases to purloin out mass attacks, and the lack of a centralized server or password database should theoretically hand over common attacks of that nature almost impossible.
Users are issued guide on signing out that are used just once when signing no hope in and then destroyed, replaced with a different key and optionally used with 2FA for added insurance. CEO Momot says that the project was inspired by a personal experience — the negative cash flow death of an ethereum wallet key.
“The idea first came to me when I lost my watchword to [my] ethereum genesis wallet way back in 2015. In the end, I was able to guess the open sesame, but it became a final countdown for REMME. From this event, the notion of REMME WebAuth 1-click user authentication was born.”
Momot rested REMME to find a way around the password problem. After considering clarifications like storing geolocation and IP on the blockchain, the project team decided that be undergoing too many criteria was a bad idea, and opted for designing the digital passport in preference to.
A native blockchain was created following some early experimentation with the Emercoin and Bitcoin blockchains, and the test has now grown into a fully-fledged project aimed at changing the use of public key infrastructure (PKI).
“Now we are erection an infrastructure for secure distributed authentication and validation of users, businesses and hallmarks across the web, with digital certificates,” Momot said. “We aim to make the manage secure and at the same time simple. When dealing with cybersecurity, every catalogue is important.”
The Goals of the Project
Further describing the goals of the project, Momot interpreted:
“The first goal is that we want to eliminate the weakest point, which are passwords from the authentication deal with and provide better authentication for users and for devices. But the key point is how we want to do that – with the cure of blockchain.”
Blockchain can be used to protect data from cyberattacks and better cybersecurity across industries. Momot points out that those who confidence in that blockchain provides uncensorable truth are mistaken, stating that what blockchain endowments is uncensorable proof. The ability for network participants to monitor activity in real-time builds it tamper proof, paving the way for new cybersecurity solutions that were at one time impossible.
“Our second main goal is to break new ground and establish a circuit to collective understanding of distributed ledger technology.”
The REMME testnet was launched in September 2018, and Momot claims the release of the sidechain testnet means REMME technology is ready for evaluating in a full-scale business environment.
“About a week ago we launched our masternode program, which is clear to the cryptocurrency community. Each node will provide consistency and blame tolerance and operators will be rewarded with fees from putting transactions for certificate issuance and revocation included in a block. Completion of the masternode relevance period is on 17th October.”
Momot says the next step is to release buxom details of the project’s new consensus algorithm, which has not yet been made viewable.
“We’ve also put a lot of work into refining atomic swaps. In the case of REMME, we’re injecting atomic swaps to enable REMME’s native REM token, which manipulates on the ethereum network, to be exchanged for corresponding tokens on REMChain. By using atomic swap technology, we can eliminate the scarcity for a centralized exchange and the inherent security risks that such arrangements introduce.”
In the world of cryptocurrency where transactions are irreversible, password buffer and security are paramount — the replacement of the traditional architecture with a blockchain-based deciphering that makes life difficult for hackers could be a welcome appendix, if successfully implemented.
Images from Shutterstock
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