Digital transactions require secured yet user-friendly solutions. This applies all the more so for Blockchain applications where the user credentials are one of the most critical security aspects of the system. With its new Blockchain Security 2Go starter kit, Infineon Technologies provides FinTechs and blockchain designers a fast and easy way to build hardware-based security into their systems.
The starter kit contains five NFC smart cards based on Infineon’s security controller with blockchain crypto features for several blockchains. Additionally, an open source android app for Ethereum and Smart contract examples is provided. The NFC smart cards help blockchain system designers to easily integrate hardware-based security and quickly develop first prototypes of the blockchain application. The security tokens – whether smart cards, dongles or solutions for mobile devices – allow users to securely generate their unique public and private key pairs, authenticate with PIN and sign their data and digital transactions. All the user credentials can be stored in the security controller and hence be protected from remote attacks on software or the micro-architecture and especially from physical attacks in case the token is stolen or lost.
A blockchain is a decentralized digital ledger system of data (chain of blocks) that are cryptographically linked to the previous one. Though convenient, storing blockchain user credentials on a computer or a cellphone can be extremely risky: an attacker may identify and read out sensitive information such as the highly confidential private key of the user. This could even be done remotely – through software attacks – so that the attacker would have full control over that blockchain identity and its currency, assets, ID, contracts, etc. Similarly, if a user forgets or loses the credentials, the usage of the assets is lost as credentials typically cannot be centrally restored. It is essential to increase access security by integrating a token based on hardware security into the application that protects from software and physical attacks alike.