The blockchain cybersecurity firm’s new decentralized solution provides a secure and cost-effective alternative to traditional authentication methods
Unbound Tech, the global leader in cryptographic key management and protection, has announced the launch of a new login solution to enable businesses to go ‘password-less’. The Crypto-of-Things (CoT) platform is an endpoint security solution based on Unbound’s NextGen Key Orchestration Platform to remove the dependency on traditional authentication methods, yesterday’s press release stated. The decentralized key management system meant to replace hardware tokens can also be used to access blockchain wallets.
The system is aimed at enabling businesses to secure high-risk operations and authenticate transaction approvals without security, usability and cost-trade-offs, the firm explained. Unbound is looking to businesses relying on hardware tokens, software tokens and passwords, and trying to provide a ‘passwordless experience’.
Though the concept of going password-less has been explored for years, highly secure authentication systems are cumbersome or are not secure enough, Unbound CEO Yehuda Lindell claimed. “The biggest source of cloud breaches today is actually due to breaking authentication mechanisms. As such, this aspect of security is quickly becoming one of the most central and critical issues in achieving security,” he added.
The system is secured by ensuring that secrets such as cryptographic keys, credentials, or other private data never exists anywhere in complete form. They are stored through decentralization techniques across multiple devices, the firm revealed. Further, the authentication solution uses secure multiparty computation to sign a message. This is done to guarantee that the key is never fully revealed to any involved party.
“Unbound’s CoT leverages our advanced software that seamlessly integrates and leverages a business’s existing security policies while providing a unified interface with the highest degree of security for all types of devices,” explained Unbound Tech’s
