APIs are just an example of certain private systems that face a lot of obstacles regarding security. Public authentication via the Hydro public blockchain is a powerful tool that can be used to support security for the private systems. This tool from Hydro is referred to as Raindrop. In this article I will explain how it works.
What is Raindrop?
When it rains, what we see essentially are small packets of water that is condensed. These water packets can measure between 0.001cm to 0.005cm in diameter. Now, depending on the intensity of the rainfall, we can have as much as billions of these water packets, all having varying sizes and shapes at different velocities falling down from the skies. As a result, it becomes complicated to try to determine the specific nature of rain. This is the same way Hydro authentication is built on. Every transaction via Hydro is difficult and impossible to decrypt. Thinking they occurred by chance would be reckless and insignificant. Thus, the unique name, Raindrop.
Because the Ethereum network operates on blockchain technology that is capable of allowing other applications run on it, Hydro Raindrop will utilize the ERC20 network. The Hydro API platform will give its users access to interact with the blockchain in a way that is similar to how financial services platforms, notably public ledgers, are run. Raindrop is the blockchain-based authentication service that will be integrated onto this Hydro public ledger to add a clear, undiluted and open layer of security which will verify whenever an access request is made from an authorized source.
There are certain private authentication protocols popularly used today and one of them is OAuth 2.0 which has been found to be quite effective and efficient when used. By making use of Hydro, these existing authentication protocols can be improved upon using blockchain as a vital component of their working process. This integration with blockchain will undoubtedly increase security and deflect any data or system breaches that may arise.
Problems of Data Hacks and Breaches on Financial Systems
Technology has brought a lot of virtues to humanity but each time a new technology is developed, it always comes with its vices. Data has become a very important component of financial institutions and over the years it has been stored in various means from analogue through digital. While storing it via digital means is more economical and comprehensive, it is however prone to hacks and breaches. Because financial platforms hold vital information regarding customers’ data and assets, they are often targeted on a regular basis. The effects of hacks and breaches on these financial businesses can be devastating to the unsuspecting customer. It is getting increasingly difficult for all the financial systems to effectively prevent and secure their platform as cyber criminals keep innovating different techniques at breaching their systems.
Raindrop Blockchain Solution
Having gone through the background of Hydro’s Raindrop, it appears to be the number one solution to effectively and continuously strengthen the existing security of private systems. Ethereum network, on which Hydro operates on, is notable for collectively validating transactions on the network and as such, attempts at unauthorized access to the network, is rendered futile. The days of being worried about breaches and hacks are over with Hydro’s protocol. What more do you need to safely secure user data on private systems? For more information you can refer to the website below.
Website – https://www.hydrogenplatform.com
Writer – Coltpython
