INTRODUCTION
Cyber crime has been a threat to the success of internet. There has been some wide-spread vulnerability in some financial services and platforms. Some financial data have been hacked and others have gotten unwarranted accesses that have threatened such financial platforms.
I discover that most of the financial platforms and public blockchains do not have adequate protection of their data. So most times, there have been data breaches that were not well-recorded.
Protection of sensitive data is very important, especially on platforms like public blockchains where many users can easily gain access to another’s .
A technology from Hydrogen platform called 'Raindrop' will provide a better solution to the problem on public blockchains.
The Hydrogen Raindrop technology integrates the Ethereum blockchain technology which allows users collectively be part of a transaction and also eradicates the unwarranted access to data.
LITERATURE REVIEW
Hydrogen
Hydrogen is a blockchain application built on top of Ethereum.
Hydro has developed a product around blockchain technology that offer more benefit to financial services application.
Hydro rely on developers across the globally that are working to make blockchain technology more important faster and more effective.
Ethereum
In Ethereum, all block header contain merkle tree which is used to distribute systems for efficient data verification.
This makes it easier for a client to get verifiable
Smart contract
Hydro use smart contract as a tool for building on the Ethereum infrastructure.
The smart contract is a self-executing blocks of code that multiple
parties can interact with.
The smart contract has a length of time a program takes on Ethereum using a tools called Ethereum Virtual Machine.
This help in preventing Denial of Service attack, and ensure communication not to be interrupted.
This is what we do called gas. Therefore each transaction has a limited gas allotted to it
Public Ledger
In a private private system, public ledger is a medium for flow of data for any entity. This system is used to power financial services platforms, websites, and applications.
Hydrogen’s API Platform.
Hydro has aimed to allow Hydrogen users to interface with a blockchain in ways that are seamlessly integrated into the fundamentally private Hydrogen
ecosystem.
Hydro can exist independently and layer around new or existing systems without requiring
systemic change. Hydro aims to add more value to blockchain. Any platforms that plug into the Hydrogen APIs can automatically access the
blockchain.
Raindrop
Raindrop is a blockchain-based authentication service built on top of Hydro public ledger (Hydrogen API).
Raindrop offers a distinct, immutable, globally
viewable layer of security that verifies an access request is coming from an
authorized sources.
Hydro
offers a way to enhance them by incorporating blockchain mechanics as a
component of an authentication procedure. This can add a useful layer of
security to help thwart system breaches and data compromises.
Entities that involved in Hydro authentication process
Accessor:: The party attempting to access a system, i.e a financial institution or app utilizing the
Hydrogen APIs for its core digital infrastructure.
System:: The system that is being accessed by the Accessor, I.e the Hydrogen API itself.
Hydro:: The module that is utilized by the System to communicate and
interface with the blockchain.
Blockchain:: This is the distributed public ledger that processes HYDRO transactions and contains the Hydro smart contracts, through which information may be pushed, pulled, or otherwise operated upon
METHODOLOGY
Hydro Raindrop
Hydro authentication transaction is unique and virtually impossible to have occurred by chance.
Raindrop-based verification with Hydro is analogous; Instead of sending the
user an amount and having it relayed back just as case of financial services platform, they define a transaction and the user
must execute it from a known wallet. The only way the user can conduct a valid
transaction is by accessing the wallet in question.
By using Raindrops, both the system and the accessor can monitor authorization
attempts on an immutable public ledger. This blockchain-based transaction is
decoupled from the basic system operations, occurs on a distributed network,
and depends upon the ownership of private keys.
Raindrop in all possible way has a set of five transactional parameters:
Sender: The address that must initiate the transaction.
Receiver: The transaction's destination.
ID: An identifier that is associated with the system.
Quantity: A precise number of Hydro to send.
Challenge: A randomly generated alphanumeric string.
Outline of authentication process
Initialization
Initialization begins with a System registering to use Hydro
and obtaining credentials, enabling the system to communicate with the
blockchain via the Hydro module. The System onboards an Accessor who registers a public address, and then passes the registered address to Hydro. This address is immutably written onto the
blockchain to a whitelist stored in a Hydro smart contract. The System receives
a confirmation that the address was whitelisted, which can also be verified as
a publicly viewable event. System registration need only occur once, while
Accessor whitelisting need only occur once per Accessor.
Raindrop
After Initialization is complete, the core of the Hydro authentication process
begin. The Accessor, who must execute a Raindrop transaction, jumpstarts
this process by requesting Raindrop details from the System, and the System
routes the request to Hydro. Hydro generates a new Raindrop, stores certain
details immutably on the blockchain, and returns the full details to the Accessor via the System. The Accessor, equipped with all required information,
conducts a transaction from the registered address to a method in the Hydro
smart contract. If the address is not whitelisted, the action is rejected -
otherwise, it is recorded in the smart contract. It is important to note that
this transaction should occur outside of the System, directly from the Accessor
to the Blockchain, as it must be signed with the Accessor's private key which
only the Accessor should be able to obtain
Validation
Here, the Accessor officially requests access to the System via the System's established
mechanism. Prior to implementing any of its standard authentication protocols, the System asks Hydro whether or not the Accessor has performed a valid Raindrop transaction. Hydro interfaces with the smart contract, checks for
validity, and responds with a true/false designation. The System is able to decide how it should proceed based on this designation - if it is false, the System can deny access, and if it is true, the System can grant access.
Overview of how Hydrogen implements Hydro authentication as a security layer in its overall API security framework:
Hydrogen API partners must first have the IP addresses of their various
environments whitelisted.
Partners must request to whitelist a public Hydro address.
All calls to the Hydrogen APIs and transfers of data are encrypted and
transmitted through the HTTPS protocol.
Partners must complete a valid Hydro raindrop transaction from the
registered Hydro address.
Partners must use OAuth 2.0 validation. OAuth (Open Authorization) is an
open standard for token-based authentication and authorization. Hydrogen
supports the “Resource Owner Password Credentials” and “Client
Credentials” grant types, and each API user must provide credentials for
an authentication requesting.
If none of the five elements above are violated, the Hydrogen partner is
granted a unique token, to be checked and verified with each API call.
The token is valid for 24 hours, after which the partner must validate
themselves again.
For more enquiry, visit
Website: https://www.hydrogenplatform.com
Github: https://github.com/hydrogen-dev
Medium: https://medium.com/hydrogen-api
To meet and interact with other members of the hydro community, join the Hydro Telegram Group
Telegram Community:https://t.me/joinchat/H3uDdQ9JBFyV1UL35xX4VQ
Other Social Media:
Twitter: https://twitter.com/@hydrogenapi
Reddit: http://www.reddit.com/r/projecthydro
Discord:https://discordapp.com/invite/gxAUagw
YouTube:https://www.youtube.com/channel/UChDPAVs_qKREy9zAQsc6VVw
PROMOTE
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