MultiversX launches on-chain two-factor authentication standard

Two-factor authentication (2FA) has been a trusted online security measure for years and MultiversX is the latest blockchain protocol to join in by providing extended transaction signing options. Cointelegraph recently had the opportunity to discuss MultiversX’s new ‘guardian service’ with CEO Beniamin Mincu. Accessing the feature requires users to create a guardian address to generate a secondary signature. When a user looks to sign a transaction on-chain, both signatures must be provided for it to go through.

Aside from being kept off-chain, the guardian service removes any further need for users to keep private keys. Mincu was eager to accentuate what he considers to be the value of the no-cost protection. Nevertheless, the idea isn’t completely unseen – many cryptocurrency wallet and exchange services are already leaning on two-factor authentication to confirm logins and user interactions at an application level. To sweeten the deal, the extra security can be carried aside of any cost to the user’s experience.

Furthermore, Kraken made two-factor authenitcation compulsory for its users back in 2019, in a bid to master raids against multiple logins. Now, Mincu thinks introductions such as MultiversX to create a shift in the bigger picture of the crypto industry – exclusively by usage of phone-embedded or biometric authenticator for extra security clearing. Ultimately, its down to us human beings to decide if further protecting artificial inhabitants requires us to provide them with intangible human souls.

Robert Wilson author
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