Dynamic Biometrics Technology by Optherium Labs

Dynamic Biometrics Technology by Optherium Labs

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PINs and passwords, passports and driver’s licenses, as well as private keys can be forgotten, stolen, or lost. Did you know that lost or stolen private keys were responsible for more than $4 million in lost Bitcoin last year alone?

But don’t worry, Optherium Labs’ revolutionizing product, the Optherium Ecosystem, is putting a stop to this. As a matter of fact, Optherium’s Ecosystem, a Multi Decentralized Private Blockchains Network, (already featured on Worldwide Business with Kathy Ireland) comes with a set of world-beating technologies, such as a Key Recovery Service (KRS) and Dynamic Biometrics verification. Let’s take a more detailed look at what Optherium has to offer and how it can allow blockchain technology to prosper.

Dynamic Biometrics: The Basics

Dynamic Biometrics, or “biometric systems of identification”, is based on the development of pattern recognition systems. Biometric technologies are said to be the most convenient and safest way of verifying identity. Here’s why: people don’t have to remember numbers, codes or passwords.

Seeking to leverage this technology along with the necessity for a strong authentication method become inevitable, a range of banks have turned to testing biometrics on limited audiences. It may not take long until the industry makes biometric authentication mainstream and ditches passwords once and for all, turning the Optherium Ecosystem’s infrastructure into the fuel that powers global finance. 

Needless to say, there are numerous forms of biometrics now being used, but all of them are divided into two groups:

1)    Physical Biometrics, which covers the following:

  • Fingerprint: inspecting fingertip patterns
  • Facial recognition/face location: evaluating facial characteristics
  • Hand geometry: correlating the shape of the hand
  • Iris scan: checking characteristics of the eye colored ring
  • Retinal scan: verifying blood vessels in the eye 
  • Vascular patterns: auditing vein patterns 
  • DNA: inspecting genetic makeup.

2)  Behavioral Biometrics, which covers the following:

  • Speaker/voice recognition: correlating vocal behavior 
  • Signature/handwriting: exploring signature dynamics
  • Keystroke/patterning: determining the authenticity of a user when the user is working via keyboard. 

Thus, the key advantages of Dynamic Biometrics:

  • Unlosable/unforgettable: Biometric traits cannot be lost or forgotten (while passwords can). 
  • Uniqueness: an identical trait won't appear in two people.
  • Almost impossible to copy: Biometric traits are extremely tough to reproduce share and distribute (passwords can be announced on crackers’ websites). 
  • The presence of the data owner: the person being authenticated has to be present at the time and point of authentication. 
  • User friendliness: it is easy, comfortable, fast, trendy, and almost always fun to use.

The technology of the future

Dynamic Biometrics are expected to replace PINs and password usage as they can potentially prevent unauthorized access or fraudulent use of the following: 

  • ATMs 
  • Mobile phones, tablets, laptops, and computers
  • Workstations 
  • Computer networks

Due to Dynamic Biometrics technology, an individual will be able to pay without actually using their wallet/mobile or card. This technology will make it possible to travel without a passport. In short, Dynamic Biometrics can become a person’s all-access pass. Meanwhile, it will dramatically reduce the number of transaction frauds and security breaches. 

The total biometrics market is expected to reach $30 billion by 2021. That will probably make cybersecurity the world’s hottest industry by 2020. 

Optherium’s Key Recovery Service (KRS)

Key Recovery Service (KRS) is a special feature that allows users to recover their assets in the event that their keys are lost or stolen. Users can reclaim any assets contained within their associated wallets, no matter what circumstances they were lost in, and the system ensures that users will never lose their funds due to the loss of private keys. 

How it works:

Private keys are kept securely in cold storage that is shared between multiple air-gapped computers. This ensures that the keys cannot be hacked without physical access to Optherium hardware. When first setting up a wallet, users are requested to enter personal information and answer security questions. This information is stored on the MultiDecentralized Private Blockchains Network™ and forms the basis for the KYC service. At this time, users can also establish their Dynamic Biometric template. Because Optherium generates these keys in an air-gapped computer, the computer is never connected to any network and the keys are completely secure. The public key alone is then provided to the user. Should a user wish to recover any of those keys, the user can access their wallet via multi-factor verification, which includes their Dynamic Biometrics as an additional security level option. 

Moreover, together with the Key Recovery Service (KRS), Optherium’s Dynamic Biometrics form the most cutting-edge blockchain technology standard to date, with its trademarked MultiDecentralized Private Blockchains Network.

Key Considerations

Indeed, biometrics technologies are gaining popularity in the financial service industries worldwide since they provide more reliable and efficient means of authentication and verification. The technology ensures high reliability and speed of biometric identification even when using large databases.

Optherium Labs is doing a lot to leverage the technology of blockchain by implementing Dynamic Biometrics and Key Recovery Service (KRS) into one powerful system, forming the basis of the Ecosystem’s Multisecure Blockchain Network, a world first and light years ahead of its competition. Stay in the know with the latest blockchain related news by subscribing to the Optherium Telegram channel.

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