Do you know you can actually secure your business without the use of a password?
After getting so much audience, Brian’s website got hacked and that got him devastated. He kept wondering what to do and how to rebuild his site but the painful thing is starting all over again. So many people have been in Brian’s state before or are presently in his shoes wondering what can be done.
Virtually all we do requires a password for security purpose, both as an individual or a corporate organization and by this, we are left with no choice but to share those details that are meant to be personal with others. Aside from sharing our password, hackers are always there to intrude our privacies, and so many other factors like you having the same password with someone else, or even have your password guessed rightly.
According to Forbes, the cost of internet fraud will amount to $2 trillion by 2019 confirming how it is an ever-growing password problem. Thanks to this issue, companies all over the globe have lost billions of dollars to hackers. Despite all of these, the most discouraging thing to know is that we live in a digital world where almost everything happens online.
In fixing this password problem, the software called ‘password manager’ was introduced to secure the use of passwords but it was later discovered that this approach was not the best because it was secured by a single master password. Due to the failure of the password manager, the two-factor authentication was introduced for the partial solution and testing of password problem. The two-factor approach was carried out through three (3) different means:
• One-time password implemented with TOTP protocol
• A one-time password used via SMS
• Hardware tokens
The public/private Key Infrastructure was created to support the creation, distribution and adoption of the two-factor authentication via an SSL/TLS. After so many trials and failed approach to fixing this insecurity issue, REMME introduced its no password system on blockchain through a decentralized public key infrastructure.
REMME technology looks forward to eliminating every human error or break-ins from the authentication process. How possible is this? The platform considers phishing, brute force, bucket brigade, server breach, keylogging, password breach, and password reuse attack in keeping businesses safe.
REMME, unlike other technology companies, have been able to solve this password issues using its distributed PKI that will enable infrastructure companies to perform better. The following are ways the platform has come handy for different fields:
• Internet of Things: Anything can be hacked including a vehicle and Uber has been identified as the new latest transportation system in the world which requires a lot of our personal details including our banking information. In fixing this, REMME uses its decentralized blockchain processing system with high level of security that applies also to car networks.
• Financial: Especially in cryptocurrency exchange where hackers know how much people are investing in the business daily. Hacking such business can cost hundreds of millions and most times, such happens in bitcoin and other cryptocurrencies due to it irreversible nature, unlike credit cards where you can report any fraudulent charge and have it corrected. REMME came up with the idea to secure transactions with the use of a user-friendly one-click 2FA system.
• Medtech: The issue of intruding one’s health records is very sensitive. Most people, especially with special health cases, always want their records private but yet the protocol guiding this is on the high side which automatically, limits some users from having their records properly secured. REMME developed an online solution for users to easily access their records with the use of a simple 2FA.
• Critical Infrastructure: It is shocking to know that a single cyber-attack on a nuclear power station can be disastrous as it can create a new Chernobyl. Critical infrastructure was naturally created on a secured and enclosed system but, lately, it has suffered much more interconnectivity leading to different security threats. REMME has invented an improved authorization network adopted by different energy organizations in order to enhance security.
Why Should I Adopt REMME?
The following are some of the features present in the use of REMME and absent in other platforms:
• Unlike others that run a Private Key Distribution, REMME adopts a fast and secured Public Key Distribution process
• It uses a decentralized database of certificates and keys
• No technology lock-in and API limitations
• No additional fees for different certificates
• Full anonymity
• No legal limitations and government issues
To ensure a perfect functioning of REMME’s decentralized system of solving password problem, the team created a matching financial system that entailed:
• The pricing policy must be associated with an existing currency, for instance, US dollar
• The blockchain must sustain a speedy certificate management
• The integration of different firms through a private blockchain
To maintain the information required by the system, the following must be considered:
CERTIFICATES SUPPORT
The first version of the system X.509 certificates was used for self-signed certificates and certificates signed by an organization. To improve REMME-based certificates, the system aims at integrating server-side software that ensures regular check of the certificate on the blockchain.
2FA
If a system requires the physical presence of the users, going for a two-factor authentication system is advisable. For a local sensor, this approach is best suitable as it connects perfectly with every local network and if the system is remote-based, it is ideal to use a phone or personal computer.
CONSENSUS ALGORITHM
REMME in solving password problem requires the use of an algorithm network called ‘proof-of-service’. The main focus of the algorithm is the network of masternodes. Masternodes are absolutely used for producing new blocks and processing every transaction.
For proper processing of the algorithm with the use of masternodes, the following activities are carried out:
• Submit a Request to Join Masternode: A special transaction is needed for proper checks on the candidate’s available tokens, accessible IP address and many more information. Once these details have been verified, the masternode is created and tokens are automatically blocked.
• Creation of New Block on Masternode: Once the masternode has been successfully created, the next stage is creating a new block that is sent to the network within a set time.
• Failed Masternode Process: In a case where masternode was not successfully created or is invalid, the node will be taken out of the list.
• Offline Masternode: It is important for every node to periodically send ‘heartbeat’ package to the system if not, it will be removed from the global list.
• Unsubscribed Node Owners: Sometimes, node owners decide to stop their activities on the system and by doing that, they are automatically listed out of the network.
From the above breakdowns of REMME, it is seen that the company is ready to resolve every password problem through the distribution of Public Key Infrastructure (PKI) system built on an X.509 certificate protocol that adopts SSL/TLS network. For future growth, the company runs an ever-improving technology that fixes every existing and rising password problem.
TOKEN
The Remme token (REM) is an ERC-20 standard token and will function as a multi-utility token to fuel the REMME ecosystem. For example, it serves as a license key which enables users to have access to the REMME PKI and DApps. In addition, the REM token can also be used for other activities such as certificate generation, node production e.t.c.
50% of the total tokens will be sold. However, 20% will be allocated to team and founders, another 20% to the partners and advisors and the remaining 10% goes into the reserve fund for future use.
Kindly visit https://remme.io/for more information.
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