<\/p>\n
Blockchain builder <\/span>Algorand<\/span><\/a> has debuted a tool for decentralized authentication and communication called LiquidAuth.\u00a0<\/span><\/p>\n As the company said in a <\/span>news release<\/span><\/a> Wednesday (June 26), LiquidAuth is an open-source solution for \u201cauthenticated peer-to-peer communication between wallets and apps\/dApps,\u201d designed to end the \u201coverreliance\u201d on centralized wallet communication provider <\/span>WalletConnect<\/span><\/a>.<\/span><\/p>\n \u201cWhile it emerged in response to the centralization vulnerability of WalletConnect, LiquidAuth can be deployed in any other traditional web applications (including identity and authentication) for more secure and private authentication,\u201d the company said.<\/span><\/p>\n PYMNTS has contacted WalletConnect for comment but has not yet gotten a reply.<\/span><\/p>\n \u201cDigital assets (including personal data) make online accounts and wallets a frequent target of attacks. Ways to mitigate this risk include using a password manager, adopting two-factor authentication, adding physical security keys, and using passwordless logins.\u201d<\/span><\/p>\n But in Web3 and Web2, the company added, the process in which this information is communicated isn\u2019t always private or secure, and communication that isn\u2019t secure can be exploited, leading to stolen data and information.<\/span><\/p>\n According to the release, LiquidAuth is \u201ccontext and chain-agnostic,\u201d able to be used in any Web3 or Web2 application (for example, logging in with a wallet rather than an email or social media account).<\/span><\/p>\n \u201cIts decentralized, secure design reduces the attack surface,\u201d the release added. \u201cLiquidAuth does not require a central server to relay messages between wallets and apps. It uses open standards such as FIDO2 \/ Passkeys for authentication and does not store <\/span>any<\/span> user data.\u201d<\/span><\/p>\n Elsewhere in the crypto space, PYMNTS wrote last week about the possibility of the digital currency\u2019s use in the <\/span>eCommerce space<\/span><\/a>.<\/span><\/p>\n \u201cFor consumers, the process of setting up wallets, securing private keys <\/span>and<\/span> understanding <\/span>blockchain technology<\/span><\/a> can be daunting,\u201d that report said. \u201cFor merchants, integrating cryptocurrency payment systems requires technical knowledge and resources, which can be a barrier to adoption.\u201d<\/span><\/p>\n