The blockchain is a shared, digitized record of data that cannot be changed once a transaction has been logged and verified.
All parties involved in the transaction, as well as a significant number of third parties, maintain a copy of the registry (i.e. the blockchain), which means that it would be virtually impossible to modify or delete each copy of the registry globally to falsify a transaction. This makes blockchain technology super secure.
Decentralized Identifier (DID)
The Decentralized Identifier (DID) is a globally unique identifier that does not require a single centralized authority to issue and verify personal information as the verification of personal data is registered in a decentralized manner.
With DID, users manage and own their personal information.
After the users verify their personal information, mobile-based DIDs can be used in online or offline environments with a simple biometric authentication.
KEEPIN Authentication provides a high level of security utilizing blockchain technology and dPKI cryptographic algorithm.
When a service provider requires a user to authenticate itself, the service provider sends a randomly generated nonce value to the user who authenticates itself with biometric data, triggering a digital signature.
Compared with 2 Factor Authentication (2FA) which usually requires seven steps, KEEPIN Authentication reduces the process to only four steps and provides an in-app authentication experience.
Single Sign On (SSO)
Single sign-on is an agreement between different companies
to allow their subscribers to use the same identification data
to access each other's network. The user's identity is linked in different domains which allows the user to authenticate in one of them and access resources in another without having to log in again.
Cryptocurrency is a digital or virtual currency designed to work as a means of exchange. For easy understanding think of it as diamonds, gold or other means of exchange that is utilized in games. While the value of in-game assets are designed by centralized game publishers for users to enjoy games, cryptocurrencies are used as an incentivized method for nodes to securely run the blockchain network.
Public Key Infrastructure (PKI) and Decentralized Public Key Infrastructure (dPKI)
PKI Algorithm is a cryptographic algorithm that provides a secure method to transfer digital data. PKI uses Asymmetric Key Algorithm, meaning that in one set of keys there are two keys; Private and Public Key.
Private Key is a key that only the owners themselves must know.
If stolen or shared with others, asset can be lost. Public Key is a key that is shared within the network.
When a sender needs to secretly and securely send digital data to a recipient, sender encrypts the digital data with the recipient's public key which can be found from the network.
Once the recipient receives the message, recipient decrypts the encrypted file utilizing the recipient's private key.
In decentralized PKI, blockchain acts as a decentralized key-value storage. It is able to make the whole process transparent, immutable, and to prevent attackers from breaking in.