Signature Chains

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Applications are accessible through Nexus Signature Chains. Signature Chains are blockchain accounts that facilitate an ability to login the blockchain from any device with a username, password, and pin, without the need for a wallet.dat file or constantly rescanning the database. They are comparable to a personal blockchain that allows access through a login system, removing the need to store a private key. Sigchains deterministically create a mathematical ‘lock’ that only certain login credentials can unlock.

Sigchains provide the foundation for features such as digital identity and managing assets, whilst maintaining pseudo-anonymity for privacy. In our opinion, they are a very important step for mainstream business adoption of blockchain technology. Contrarily, legacy blockchain designs rely on the safe keeping of the private key. This renders these systems susceptible to human error, boding for the need for complex hardware designed specifically to store private keys securely.

Fundamentally, a Sigchain decouples the private key from the user account, therefore one is unbound by the possession or security of a single private key. The private key becomes obsolete when the next transaction is generated, producing higher levels of security compared to the continual reuse of a private key, as is the case with other blockchain technologies. Additional benefits are the efficiency gained by reducing the requirement of storing a large amount of signatures on disk, and the ability to use a variety of key types such as FALCON for increased Quantum Resistance.

© Copyright 2019 Content by www.nexus.io

Secure Digital Identity

An End Point Identifier (EID) is similar to an Internet Protocol (IP) address, and is a form of identity on the network layer. Through the use of LISP (Location Identifier Separation Protocol), the EID becomes the identifier, while the RLOC (Routing Locator) becomes the location. This decoupling enables a device to freely roam between networks as only the RLOC changes, not the EID. This is contrary to how the Internet currently functions, where both the identifier and location are bound together in a single IP address.

This is a critical security feature, as an EID can be linked to a Sigchain which makes the network identifier cryptographically associated with the Ledger. EIDs, Sigchains and the use of reputation combined create an elevated layer of trust to the Internet, as one can verify with certainty that the other party is who they claim to be without the need for third party services like Certificate Authorities (CA). A reduction in fraud, hacking, fake accounts, and identity theft are the expected outcomes of Signature Chain use in blockchain applications.

© Copyright 2019 Content by www.nexus.io