Introducing The Sesame: A New Digital Key Standard with Blockchain Network
Hi community,
We are excited to announce the introduction of our project — The Sesame. This project has been in the works for some time, and we are thrilled to finally be able to share it with all of you.
We’ve briefly touched on the background and the introduction of blockchain technology to the digital key platform in the last post.
As you can see, we are a group of passionate individuals who have come together with a shared vision of creating a better digital key platform for everyone.
Mission & Vision
Our vision is to be the ultimate key in everyone’s lives.
Digital keys are not limited to opening and closing doors; their potential scalability is endless. Existing devices communicate with each other using their unique keys and are connected to the users. These cloud-managed devices have the problems of transparency and sustainability of digital keys. No one has yet come up with a concrete solution for this problem that everyone in the IoT industry faces. This was the starting point for ‘the Sesame project’.
Sesame focuses on providing a clear recipe to solve the problem of data transparency and data sustainability and developing it into a tool for users to prove their identity by connecting devices with them. As a result, multiple devices owned by each user will eventually be utilized as proof of identity, resolving most existing inconveniences, such as two-factor authentication. Several services will be built and expanded from this as a next step for the Sesame project.
The Sesame: Introduction
With the growing use of smartphones and digital devices, the demand for digital keys is increasing rapidly; however, the digitization of keys is not keeping up with the pace for the following reasons. First, a large number of distributed applications for the use of each digital key. Some applications require fingerprint authentication, some require NFC, and others need passwords. Second, there are several manufacturers who use their own digital key modules and authentication in a private way, so it’s hard to integrate. To solve the problems, companies manage digital keys online, but they also manage them through their centralized server, causing cost and vulnerability issues.
The Sesame project team used blockchain technology to solve the problems of distributed digital keys, non-transparent digital key management systems, and the high cost and sustainability of centralized services. Through this, we aim to develop and provide a decentralized digital key solution. This is a project connected with a total of three organic layers. 1) Development of a digital key wallet application to integrate distributed digital keys into one, 2) Provision of a decentralized digital key management solution based on NFT, and 3) Establishment of the digital key blockchain network. Through this project, we will provide ownership of digital keys of devices held by users transparently, and provide a digital key solution by integrating distributed keys into a single application. Businesses can use blockchain solutions for digital key management in easier ways and at lower cost, and can develop various devices on the basis of it and provide services, enabling to provide more secure and scalable customer convenience.
Goals of The Sesame Project
Digital Key Integration
Unlike the centralized Cloud server-based digital key management systems, our blockchain-based network provides transparent and secure services. We integrate digital keys into our main network by ‘Sesame SDK’, a blockchain SDK for digital keys only, to device providers and service providers. We also allow users to use the integrated digital key through the Keyring application. For the integration of digital keys, we will provide tailored SDK to various types of services (automobile, home door lock, hotel, shared office, etc.) and devices(Wi-Fi, Bluetooth, NFC, QR, barcode reader, fingerprint recognition system, etc.) inside Sesame SDK.
Sesame SDK aims to be an open platform for digital keys, giving sufficient scalability and flexibility. It offers essential functions for device providers to develop and distribute their key registration and authentication systems by using a unique format within the blockchain network anytime and anywhere.
Transparency
Basically, a digital key is stored in the Sesame Network in the form of NFT, which proves unique ownership of the key. Data stored in the form of NFT contain the unique information of each device, encrypted data that can be verified by the key owner only, electronic authentication data, validity setting data for single-use, etc.; and such NFT is configured to prevent forgery/falsification or modification of data from hacking forces. In addition, we want to maintain the inherent reliability and transparency of the digital key itself by making it difficult for users to easily modify and tamper with data. Finally, the illegal history of the key is recorded, which also enhances the inherent reliability of the digital key.
SUSTAINABILITY
Sesame Network provides incentives to the network members and end-users of services built on Sesame SDK, and controls the circulation of coins through continuous coin burning. This achieves the stability and continuity of the network by building sustainable tokenomics. With the growing number of network members who voluntarily participate in the ecosystem, the stability of the network will increase, and eventually lead to the expansion of the ecosystem. Furthermore, we will introduce a delegated proof-of-stake method to reduce the SDK delay caused by too many verification node activities in the network. Ultimately, we intend to build an independent server so that device providers and service providers can use Sesame SDK with trust, enabling them to overcome the server limitations such as service interruption or server downtime that can inevitably occur in centralized services.
Cost
The cloud service providers’ key management services such as AWS KMS and Google Cloud KMS are charged with high costs. For example, building 10,000 keys will cost US$12,000. They are designed to charge higher with a bigger number of users. If the charge is not paid, the data on the key is lost, which requires a cumbersome procedure to re-register. On the other hand, a decentralized network provides an open environment and standard protocols for both device providers and service providers. Therefore, Sesame Mainnet, which bridges between them, will significantly reduce the operation and maintenance costs as well as the development cost of the company. Accordingly, we can expect that the network ecosystem will be expanded continually with increasing users and decreasing costs borne by companies. Ultimately, we aim to reduce the total quantity of coins by burning the coins periodically as the network usage charge, as well as adjusting the number of coins in a timely manner in response to price fluctuations and various market conditions.
We can’t wait to share more information about The Sesame such as token economy and architecture. Keep an eye out for more information on our official channels!
Thank you for your support, and stay tuned for updates.
