In the previous article on Hypersign, Information on what they do, their mission, and problems they solve for their customers were explained. Now I will be telling you how it works, Tokens Utility, Features of Hypersign, and how to register.
How Hypersign Works
The Hypersign protocol works in three steps, they are;
1. Onboarding Actors
2. Credential Issuance
3. Registration and Login
Onboarding is the process of registering public keys on Hypersign network.
All actors i.e, Users, IDP, and SP needs to be onboarded on the Hypersign Identity Network.
Once an onboarding request is made, the blockchain stores their public key and issues them an identifier called, decentralized identifier(DID).
Moreover, one can also store information other than the public key which might be made public. For example; website URL, IFSC code, etc, can be stored in a bank.
In this step, the users make a request for a verifiable credential from an identity provider by providing their data. The user data can be an email or phone number, address, etc.
The IDPverifies this data and issues a cryptographically signed credential also called Verifiable Credential(VC).
The VC contains verified users data, some metadata , such as issuance date, expiration date, and a proof object which contains a signature of the issuer along with the algorithm used to produce the signature.
Registration and Login
This process uses “One Step” and Users Registration by providing credentials to service providers. The service provider verifies the signature of the user and identity provider on Hypersign Network.
How To Register and Login
1. As a user, use a Pin or Biometric to unlock Hypersign.
2. Once the QR appears on the website, scan your QR and Digital -Signature for it to be sent to Authserver.
3. Authserver will validate the signature using a smart contract on a blockchain.
4. After that, it connects with the blockchain to validate your signature.
5. The User is authenticated.
Tools and Software
Hypersign offers 4 main tools for any enterprise to deploy decentralized passwordless authentication solutions with a low total cost of ownership(TCO).
These tools are:
1. Hypersign Identity Wallet — For users to store and manage private keys and verifiable credentials.
2. Hyper Studio — For Identity providers to manage connections, credentials, etc.
3. Hypersign SDK — For Service providers to show QR code, connect with Hypersign blockchain network to verify credentials.
4. Hypersign Adapters — For Centralized IDP to covert existing IAM solutions into decentralized password-free systems.
The Hypersign network comes with a basic payment infrastructure for any party to set up a payment layer.
- HID Coin — Native currency for Hypersign.
- Payment Channel — It helps sets up the pay-per-usage configuration.
- Dashboard — To manage transactions.
The token utility can be used for;
1. Paying for credentials by the end-users to the issuer directly from the identity wallet without needing to go through any signup process.
2. Incentivizing Identity and Service Provider(IDPs) — IDPS are earning revenues through verifying transactions and maintaining the network instead of selling their data.