8 months ago
Mike Sires, a subject seasoned from Dublin, Ohio, has developed AuthLN, a proof-of-work authentication protocol that aims to trim cybercrime by introducing a fiscal outgo to unauthorized login attempts. Drawing connected his acquisition with Bitcoin and inspiration from Jason Lowery’s “Softwar” thesis, Sires seeks to marque cyberattacks unprofitable by leveraging the Bitcoin Lightning Network.
Sires was introduced to Bitcoin successful 2023 aft speechmaking Lowery’s thesis, which presents Bitcoin arsenic much than conscionable a fiscal innovation but arsenic a captious exertion for nationalist information and powerfulness projection successful cyberspace. The thesis argues that Bitcoin’s proof-of-work mechanics allows for the projection of carnal powerfulness into the integer realm, converting real-world vigor into integer security. This conception resonated with Sires, who saw the imaginable for applying proof-of-work principles beyond integer assets.
Understanding that cybercriminals often look nary outgo erstwhile attempting to breach systems—a origin contributing to cybercrime’s profitability—Sires developed AuthLN to code this vulnerability. The protocol requires users to involvement a denomination of Bitcoin to validate their individuality earlier accessing a system. By introducing a fiscal deterrent, AuthLN aims to displacement cybersecurity from a reactive to a proactive stance.
AuthLN operates utilizing Lightning Hold Invoices. During the authentication process, a idiosyncratic reserves Bitcoin successful a clasp invoice. If the idiosyncratic successfully logs in, the invoice is canceled, and the Bitcoin remains with the user. If authentication fails, the idiosyncratic forfeits the staked Bitcoin, which is transferred to the assets owner. This mechanics imposes a outgo connected unauthorized entree attempts, perchance deterring cybercriminals who trust connected the onslaught contact.
Initially targeting endeavor organizations, AuthLN seeks to regenerate accepted multi-factor authentication methods and heighten cybersecurity measures. By integrating with existing systems, it aims to forestall brute-force attacks and compromised credentials, important vectors for information breaches. Sires emphasizes that authorized users acquisition minimal changes to their login process, portion unauthorized users look fiscal barriers.
During a caller Bitcoin meetup successful Columbus, Ohio, Sires demonstrated the AuthLN prototype. Before logging in, users scan a QR codification and involvement Bitcoin via the Lightning Network. The strategy focuses connected verifying idiosyncratic intent, adding a furniture of information by leveraging proof-of-work. Sires highlighted that the protocol introduces a outgo to imaginable attackers, making cybercrime little profitable and, therefore, little attractive.
In discussions with imaginable clients, Sires focuses connected the occupation of cost-free cyberattack attempts and presents AuthLN arsenic a solution that introduces proof-of-work arsenic a deterrent. He often describes the strategy without explicitly mentioning Bitcoin to debar preconceived notions that immoderate executives mightiness person astir crypto.
AuthLN represents a displacement toward what Sires presumption “cyber sovereignty,” wherever individuals and organizations specify and support their integer territories utilizing proof-of-work mechanisms. By applying Bitcoin’s foundational principles to cybersecurity, AuthLN aims to pioneer a merchandise class that enhances integer information done economical incentives.
Sires acknowledges the challenges of gathering a startup and integrating analyzable technologies but remains focused connected the imaginable interaction of making cybercrime unprofitable. He believes that by introducing a outgo to cyberattacks, AuthLN tin lend to a much unafraid integer environment.
According to the presentation, Sires is successful talks with assorted companies and organizations funny successful implementing AuthLN. He views AuthLN arsenic a mode to service a origin greater than himself, overmuch similar his subject service. By leveraging the concepts from Lowery’s thesis, Sires hopes to laic the instauration for a digitally unafraid world, yet realizing Bitcoin’s imaginable arsenic a planetary reserve monetary system.
Lowery shared Sires’ presentation, stating,
“It begins… Love to spot US veterans gathering PoW-based cybersecurity solutions.”
The station The Bitcoin SoftWar begins arsenic Lowery highlights veteran’s PoW information solution making hacks unprofitable appeared archetypal connected CryptoSlate.
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