LoginID and Algorand partner for FIDO-certified biometric authentication
LoginID and the Algorand Foundation have entered a new biometrics-focused partnership. LoginID will research and prototype changes to their application programming interfaces (APIs) and software development kits (SDKs) to facilitate Algorand developers’ integration of FIDO-certified biometric authentication solutions.
LoginID’s efforts will be funded via a grant of an unspecified amount provided by the Foundation. Algorand developers will, in turn, be able to create biometric solutions integrating LoginID’s technologies.
“The Algorand Foundation is delighted to welcome LoginID to the ecosystem of the Algorand network,” said the Foundation’s CEO Sean Lee.
These include plugin-free FIDO-certified authentication for one-touch execution of smart contracts, as well as ‘Transaction Confirmation,’ a digital signature feature linking the individual’s biometrics to specific transactions.
“Given there are over (four billion) devices globally that support FIDO today, this is a significant step in making Algorand available to all,” Lee added.
From a technical standpoint, the Algorand blockchain is based on the Pure Proof-of-Stake protocol, designed to provide high-security features while also aiming to stay environmentally sustainable.
The Algorand network reportedly counts 13 million accounts at the time of writing and supports over one million transactions per day.
“Algorand has really started to accelerate, helping businesses in the DeFi and commerce space, areas where we have the expertise and can add a lot of value,” explained LoginID Co-founder and CRO Jim Brown.
The Foundation’s goal is to use this public blockchain to build a robust and innovative ecosystem, which thanks to the partnership with LoginID, will now feature one-touch smart contract execution.
“We have recently seen attacks on standard forms of authentication such as SMS,” Brown warned.
“Our solution will help give Algorand developers the tools to create the most frictionless, secure interactions for their customer,” the CRO concluded.
The partnership comes months after LoginID raised $6 million in a seed round aimed at accelerating the adoption of biometric FIDO authentication solutions.