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Single sign-on for decentrelized applications patented by Blockstack

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1 year ago

Blockstack patented single sign-on for decentralized applications

Blockstack has patented a single sign-on mechanism for all dApp systems - Blockstack Auth. The management of the patent is planned to be transferred to the independent Stacks Foundation.

The patent describes a Blockstack method for cryptographically logging into dApps using a single digital ID without the need for third party authentication. The system was approved by the United States Patent Office (USPTO) on March 24, eight months after the application was filed. The developer version of Blockstack Auth has been released

back in 2017.

Based on the patent, Blockstack Auth's goal is to become a single digital identity system for all Web 3.0 applications. It is functionally similar to the popular one-click login processes of Google and Facebook, which integrate with hundreds of thousands of websites.

"But the main data flow is not like authentication services based on the OAuth protocol," says the patent description.

These third-party platforms eliminate user control over information by verifying all data on their centralized servers. The off-server Blockstack Auth takes back this control using public key cryptography.

The process is carried out by exchanging JSON web tokens between the dApp and the Blockstack browser. At login, the dApp generates a "dynamic transit key", the open part of which it sends to the browser via the "authRequest" token. The browser, in turn, encrypts the "application private key" with this public part, which it then returns to the dApp using the "authResponse" token.

“This ingenious implementation removes the need for a server-side identity service,” the patent says.

A well-known investor recommends buying bitcoin

Renowned American investor and bestselling author of Rich Dad Poor Dad and Cash Flow Quadrant Robert Kiyosaki supported cryptocurrencies and called bitcoin a "currency for the people." Such a post appeared on Kiyosaki's personal Twitter page.

In particular, he calls for saving money in the face of the global financial crisis caused by the coronavirus epidemic. And, according to the investor, savings should be kept not in fiat currency, but in bitcoins.

A few months ago, Kiyosaki created several tutorials on personal finance, in which he named bitcoin as the most valuable investment asset. As Kiyosaki teaches, you need to invest in bitcoin today in order to achieve financial freedom and independence. As Kiyosaki says, cryptocurrency has a number of advantages, and most importantly, it can generate money quickly.

And if earlier Kiyosaki taught in his books to invest in assets and build a business, today bitcoin can become the main investment tool, since its popularity will only increase.

Another well-known investor and crypto enthusiast Tim Draper has repeatedly expressed a similar opinion. He has repeatedly reported that the existing banking system has outlived its usefulness. High interest rates for using bank cards and payment fees make the financial system ineffective. It is much more convenient and profitable to use cryptocurrencies both as a means of payment and as an investment asset.

According to Draper, the next few decades will erase the financial boundaries in the world. With the help of blockchain and cryptocurrencies, people will be able to pay for goods and services anywhere in the world using a mobile application. In this case, transactions will be free or have a minimum commission. Users will not need to convert one currency to another. Cryptocurrencies will become a global means of payment. Therefore, already now, generation Z and the generation of millennials should start actively investing in bitcoin in order not to have financial problems in the future.

Augur will launch the second version of the platform

Ethereum-based decentralized prediction market platform Augur announced plans to launch the second version of the platform .

Augur v2 will receive several new features, including a DAI-denominated token, support for ERC-777 tokens, and a new mechanism to address the risk of incorrect prediction markets.

The first version of the platform will be suspended on May 15, although users will still be able to create predictions through the user interface.

“When the v2 platform is rolled out, all user balances will be transferred to the new REP token contract. In the near future, we will provide all the necessary details about how exchanges and users can manage the migration process, ”- noted in a blog post on Augur.

For now, the development team has focused on improving the platform's user interface, testing smart contracts, and preparing for integration with the Uniswap v2 DeFi protocol, due in Q2 2020.

“We are in constant contact with the Uniswap team and are assessing the situation to determine the best course of action,” the message says.

In March last year, a vulnerability was discovered in the Augur architecture that allows fraudsters to create prediction markets and later forcefully close them using various techniques, such as spoofing the end date and time.

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Comments

Wonderful

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1 year ago

Yess developing what you have at hand is a first strategy, very good and perfect one here

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1 year ago

Very well planned this days servers are not a huge help as they are easily hacked so ur this can use specification for each it will be a very good and nice upgrade definitely

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1 year ago

I think the third parties will definitely be an added advantage which is a very good and perfect idea by the way so great idea for them to develop the application

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1 year ago

Then they should have keep that in a very tight and close place at least to escape problem of much work to be hold and cant really focus in which to actually do anymore

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1 year ago

Great information about this article my Dear

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1 year ago

data flow is the last thing needed in every blockchain to begin with which is a very good and at same time curious event

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1 year ago

i really will love to know about how to use dapp so as not to be on a side with full temptation that stuff i am getting it with so much confusion that i can not even start to even think on for so long

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1 year ago

at the end you may be broken to know that it is never about generating money quickly in the first place we all need to be cautious of the type of token we buy bitcoin also included especially in this era of election we just need to be focus before going for a coin

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1 year ago

if the main data flow isn't like the main the protocol and such is happening then why cant them easily just get things in other way round since a system without a protocol is no system at all to begin with at first

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1 year ago