Tired of remembering your multiple usernames or passwords? Read this Guide to know Sign-in-with Ethereum. (SIWE)
Why You need Sign-in with Ethereum ? (SIWE)
Are you concerned about the security and privacy of your personal information when signing in? Additionally, are you looking for a better way to access your online accounts and services?
Thats where sign-in-with Ethereum comes in. So , lets understand what it is?
Sign-in-with Ethereum Explained ?
First, in simple terms, Sign-in-with Ethereum is a new standard form of authentication. Again, it enables you to access resources on the internet using their Ethereum account.
Additionally , Instead of relying on traditional authentication providers such as Google , Facebook and the like.
Historically websites, web applications and mobile apps were not built with blockchain technology.
They relied on centralized identity providers. Equally important, with centralized control over user’s information.
For example – Google provides you with an email address to send vmails . And sign up for services on the internet.
In return, you agree to provide them with data they can use to tweak their algorithms to track you.
Also, serve you ads and subconsciously your decisions. Equally important key question needs to be raised.
What then happens with data in the event of a data breach ? At one of these centralized services with millions of customers ?
Or what happens if you simply wants to cut the cord with one of these centralized entities?
Enter “Sign-in-with Ethereum “.
In this post , you will learn what is sign-in-with Ethereum . Additionally , you will learn how it works? How to use it? Besides, comparison with other Web 2 logins.
Release of Sign-in-with Ethereum (SIWE)
Released a sign-in with Ethereum (SIWE) integration on the Auth0 marketplace. Now any Auth0 client can leverage SIWE in their applications.
a. It is a way to securely and privately verify your identity online.
b. Instead of using a username and password ,you use your unique Ethereum address and private key.
c. Your Ethereum address and private key are generated and stored on a decentralized network.
d. No one can see or track your Ethereum address and private key without your permission.
Sign-in-with Ethereum – How it works?
a. Create an Ethereum wallet to store your Ethereum cryptocurrency (like Metamask)
b. The wallet will provide a unique Ethereum address and private key.
Which can be used to verify your identity.
c. If you want to access a website / service on Ethereum.
Provide your Eth address and private key to verify identity.
d. The website grants you access to your account.
Using your Eth address and private key to authenticate your identity.
Benefits of Sign-in-with Ethereum
1. Avoid remembering multiple usernames & passwords
2. One Sign-in for all apps on Ethereum
3. More secure and private than traditional login methods.
4. Seamless and secure decentralized apps interaction.
5. You can take control of your online identity and data.
6. Protect your personal information from being stolen.
7. More flexibility and customization
8. Helps promote the Ethereum ecosystem.
Sign-in Eth vs Web2 Sign in
|Signing in with Ethereum||Traditional Web 2 sign in|
|Uses a decentralized blockchain network||Utilizes a centralized server or database|
|Makes use of a unique Ethereum address and private key||It will use a username and password|
|Offers stronger security and privacy||Can be vulnerable to hacking and data breaches|
|Allows you to take control of their online identity and data||Requires you to trust third parties with personal information|
|Can be more convenient and user-friendly||Can require you to remember multiple usernames and passwords|
Eth Ecosystem of Apps /services – You can use sign-in with Eth to access any of these services with just 1 login. That’s it.
Auth0 sign-in-with Ethereum
The debate rages on the value of cryptocurrencies, non-fungible tokens (NFTs), and decentralized autonomous organizations (DAOs),
it’s clear that Web3 technologies have the potential to change the way we authenticate.
Signing with Ethereum is a secure and private alternative to Web 2 logins.
Furthermore, for it to grow , the cryptocurrency & Web 3 adoption is needed at large scale.
But you can always start today by testing it.
Currently, Metamask, WalletConnect, Torus, and Coinbase are all supported in the integration.
What is an Ethereum account?
There are 2 types of accounts in Ethereum . Extremely Owned Accounts (EOA) and control Accounts. Further, an EOA is controlled by a private key .
Again, It has no associated code . Furthermore, it can send transactions . Moreover, a contract account has an associated code. Finally , that executes when it receives a transaction from an EOA.
Which Wallet is best for Ethereum?
a. Best for Security – Guardia Wallet
b. Ideal for Beginners – Exodus
c. Good for Convenience – Metmask
d. Suitable for a wide variety of Assets – Trust Wallet
e. Suits for Smart Contracts – Myetherwallet
Is Ethereum free?
First, Ethereum services are open by default. again, you just need a wallet.
Secondly, these are free and easy to set up. You can create tokens you can transfer . And use across applications.
Do you need Ethereum in your wallet?
ETH is the native crypto of Ethereum. Again, you will need some ETH in your wallet to use Ethereum applications.
How to make money with Ethereum?
Lending is another popular way for investors to generate passive income from their ETH investment. Additionally, this can be done either through centralized or decentralized lending platforms.