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Usually, when people come across “two-factor authentication”, they think of emails, one-time passwords (OTPs) and SMS codes. In fact, two-factor authentication or 2FA means any way of enhancing security using not only passwords but other methods as well. The main goal of 2FA is adding extra protection to your account.
If you enter both a password and an OTP to log in your online bank account, this is 2FA. Other widespread examples such as fingerprint scans and screen patterns on smartphones, passwords and encryption keys for crypto marketing, are probably familiar to you as well.
2FA: look before you leap
In theory, all the mentioned above ways of securing sensitive information are quite solid. However, our expectations often differ from reality. That is to say, many up-to-date 2FA solutions have serious flaws.
The first flaw is the inconvenience. The more inputs the user makes to log in, the more cumbersome 2FA becomes. If there is a possibility to use an app or service without 2FA, people will likely do so. For instance, Google launched 2FA in 2011. However, less than 10% of consumers use it today. Forcing users to adopt the 2FA system is not an option, as they will probably just switch to a different and more convenient service.
The second flaw is the vulnerability. Many so-called “second factors” can be phished. 2FA often inspires a certain trust in its methods, which makes people set weak passwords. In this case, cybercriminals can easily take over an account.
One of the most vulnerable second factors existing is an SMS verification code. NIST (National Institute of Standards and Technology) states that this security method is unsafe due to serious flaws in SS7 (Signaling System 7).
On May 7, 2019, Binance exchange reported hackers withdrew 7,000 BTC because of security breach. Hackers got access to large number of 2FA codes (probably, Google Auth).
Many popular second factors have other disadvantages. It often takes time to receive an SMS or email with a verification code and sometimes you do not get one at all. If you lose your phone, you will not get access to your account (e.q. Google Authenticator system). Moreover, these second factors are often costly and unreliable. Not mentioning that some of them can be used on certain devices only.
Blockchain is the answer
The ADAMANT team develops an exceptional 2FA solution based on blockchain. It is a cheaper, safer and more solid option any other known security methods. ADAMANT messenger is an alternative to regular second factors.
With ADAMANT 2FA, you can use existing and well-tested libraries. The system works just the way you got used to it in other services, except that you will receive codes via ADAMANT messenger rather than SMS or emails.
The messages are encrypted, so that no third parties can take over, read or implement them. Code’s delivery is always verified in blockchain. Each code request is rated as a regular ADAMANT message and costs only 0.001 ADM (approx. 0.00025 USD). Moreover, you can receive a code via PC, tab, smartphone or laptop — just make sure you are connected to the Internet (your service needs it anyway).
Have a look at the comparison chart below:
How it works
ADAMANT 2FA is suited for any Internet-related service, such as crypto exchanges, online-banks, and email. In order to activate 2FA, you need neither your phone number nor your personal information but an account’s identifier. As soon as you enter your identifier, you will receive a message in ADAMANT, containing a verification code. This will activate 2FA. Hereafter, you will get a verification code via ADAMANT messenger every time you wish to sign in this service.
In a while, ADAMANT 2FA’s components will be available in popular 2FA libraries on GitHub.
Get 2FA for free
If you are interested in the ADAMANT 2FA solution, we will be glad to help you and compensate tokens spent on sending verification codes.
This offer is limited, so do not hesitate to contact us in ADAMANT: U15677078342684640219 (msg.adamant.im).
ADAMANT TECH LABS is also looking for partners in other aspects of work: https://adamant.im/partners/