LoginID receives grant to boost blockchain security

LoginID, a FIDO-certified authentication provider, has received a grant from blockchain developer The Algorand Foundation to boost security on the blockchain.  

With the grant LoginID will deploy its APIs and SDKS into the Algorand ecosystem. This will empower Algorand developers and enterprises to access strong authentication for smart contracts, without the need of plugins.

LoginID ‘s tool also includes a digital signature and receipt that binds an individual’s biometric into the transaction.

Algorand has built a blockchain protocol, Pure Proof-of-Stake, which offers a unique combination of high-performance, scale, security and guaranteed transaction finality. It also boasts being carbon negative.

Currently, the network has 13 million accounts and supports more than one million transactions each day. It hopes that by leveraging LoginID, allits customers will be able to execute a smart contract by using the biometrics on their device.

LoginID CRO and Co-founder Jim Brown said, “Algorand has really started to accelerate, helping businesses in the DeFi and commerce space, areas where we have expertise and can add a lot of value.  LoginID will help lower friction, and make blockchain technology easier to interact when developers integrate our solution.

“We have recently seen attacks on standard forms of authentication such as SMS.  Our solution will help give Algorand developers the tools to create the most frictionless, secure interactions for their customers” says.

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