Microsoft engineers have stated that security-conscious innovations like the Tectum Multi-factor authentication technology (MFA) could have averted 99.9% of recent account compromise cases. Unfortunately, the standard MFA solutions, like 2FA (Two-factor authentication), prove inadequate in today’s scenario as malicious actors have found ways to overcome their security hurdles.
The best alternative solution available today could be the TECTUM 3FA (Three-factor authentication)technology. Below is a deeper look at the benefits of three-factor authentication and TECTUM that can keep your personal and sensitive information assets’ confidentiality, integrity, and availability intact.
Secure your crypto transactions with the Tectum Multi-Factor Authentication Technology (3FA™)
The Need to Have MFA or Multi-Factor Authentication
MFA is an electronic authentication feature where users provide multiple credentials for identity verification, usually through different devices, before allowing access to an application, network, or website. Malicious actors find it more challenging to break through various security layers and access the user’s systems than single authentication systems.
Different types of MFA are possible. All these multi-factor authentication methods involve one common aspect, which is the user.
- The basic authentication method involves something you know, such as your password and PIN.
- The second type involves something you possess. It can be a physical device through which you receive the authentication message, such as an SMS. It can also be a key or a smart card.
- The third type of authentication is something you are. The ideal examples are facial or voice recognition, biometric identification, speech recognition, retina scanning, etc.
Issues with Current MFA Technologies
Current MFA is mostly 2FA (Two-factor authentication,) where you usually use two authentication methods. They could be a password and an OTP. While there are no disputes concerning the fact that 2FA enhances security levels, one cannot deny that issues persist with such technologies. The following are common threats and loopholes that can compromise the security of the current MFA systems.
- Infiltrating phone systems: Threat actors can break into smartphones using SIM-jacking techniques and steal OTPs received on the phone, rendering the 2FA security useless. Once they access the phone, they can also assign your phone number to another device temporarily to take full control of your phone communication through their device.
- Duplication of SIM cards: Malicious actors can use sinister methods to duplicate SIM cards, which leads to their having total control over the phone identity of the user, which again dilutes the security of the 2FA system.
- Inadequate awareness: In authentication systems where MFA is optional, many people overlook the advanced security advantage and bypass the option.
- MFA module manipulation: This threat employs a denial-of-service attack to manipulate the MFA module in certain systems to direct an OTP to the attacker’s device.
The above details show how information systems can be vulnerable to attacks even if they use traditional 2FA techniques. It necessitates additional protection with more layers of security, like the TECTUM 3FA Technology.
What Makes TECTUM Multi-Factor Authentication Technology (3FA™) Unique?
The TECTUM 3FA technology is a mobile and desktop authentication platform that combines human and machine logic to offer the highest authentication security. TECTUM’s 3FA can efficiently do away with the inherent vulnerabilities of 2FA and even biometric authentication. The following are the features that make TECTUM 3FA unique.
- Quantum-Proof Authentication: TECTUM 3FA takes authentication to the next level with quantum-proof login encryption. Quantum-resistant encryption can be the highest authentication security possible today.
- SwapWire on-device encryption: ‘SwapWire’ is the proprietary encryption method TECTUM uses to transport the PIN of any user with high security. Since the PIN is never stored openly, malicious actors cannot access it even by compromising the server. Since they cannot intercept the communication channel between the user and the server, the user data stays safe with the server.
- Additional Protective Measures: The TECTUM 3FA can protect your device and data against SMS and QR-code compromise. Besides, it provides DTMF (Dual-tone Multi-frequency) fallback protection for lost or legacy devices.
The TECTUM Wallet
The TECTUM multi-factor authentication technology helps provide a secure crypto wallet, which is a blockchain-based wallet and hence, different from other crypto wallets. It has a more extensive utility, whereas crypto wallets are restricted to exchanging digital currencies alone. The TECTUM crypto wallet is highly secure as it incorporates the TECTUM 3FA technology. It works as an interface to allow users to transfer and convert BTC (Bitcoin) into other cryptocurrencies and digital assets instantly.
The TECTUM wallet interface is simple, and sending cryptos is easy. Users can input their wallet addresses and the amounts to send money instantly. Receiving money into the wallet is equally easy. Users can track their transactions on the TECTUM network using the protocol’s ‘Explorer’ option. Currently, TECTUM allows transactions for Bitcoin and TECTUM’s native token, TET.
The benefits of using the TECTUM wallet are as follows.
- Instant registration process without any KYC requirements
- Easy-to-use interface allowing users without any prior experience to use it
- Low operational cost
How the Future Looks for TECTUM Wallet
As of today, the TECTUM wallet is compatible with two cryptos. It’s on the way to facilitating mass P2P adoption. Thus, it envisages a practical solution to the problems in the crypto-finance ecosystem. The TECTUM protocol has various features that address existing challenges for a better future. Besides, quantum-proof authentication ensures the highest security from quantum computer threats that could occur in the future.
Final Words
Though the present-day MFA has its plus points in enhancing security, it has also proved inadequate. Malicious actors have found ways to break its walls. They can infiltrate smartphones and laptops to compromise user credentials and render 2FA useless.
Under such circumstances, tools like TECTUM 3FA, with their unique combination of human intelligence and machine logic, offer an ideal solution to provide the highest levels of safety. For crypto users, TECTUM also has a highly secure wallet backed by the strength of its 3FA capabilities.